80+ Locations

in East Africa

2000+

Staff Members

KES 5 Billion +

Annual Turnover

Client Background
We recently consulted for a large multinational that employs 2600+ staff and operates in the telecommunications industry. The brief was to advise whether they should continue to self-insure their medical scheme or approach insurers to obtain a Group Medical insurance policy.
Our Approach

The starting point for the project was to complete a high-level analysis of their current medical structure, the limits provided, and the current cost to the company.

The company had approached the insurance market but the quotations received were far outweighing the current cost of claims, making a shift to insurance unattractive.

We fully analysed the claims history of the company to check their historical claims utilisation and thus what cover limits would be suitable.

The Client received revised premium quotations based on the revised cover limits. We compiled a comprehensive comparison for the Client which enabled the Client to get a better understanding of the pros and cons of remaining self-insured vs. obtaining a Group Medical policy from an insurer.

Impact

We discovered that the Client’s medical benefits were either under or over utilized for different employee categories. Thus, by restructuring the cover limits for different employee categories, the premium quotations were more in line with the Client budget.

The Client saved over KES 30m based on the initial premium quotations that the Client had received.

Raised awareness on the importance of the fine print within policy documents, enabling them to ask the right questions to their insurance providers in the future.