Old Mutual offers trustees a Risk Policy Statement that helps them navigate the complexities of the group assurance decision environment. It basically enables the trustees to discharge their duties in a comprehensive and transparent manner.
The Risk Policy Statement provides a blueprint for the risk benefit provision by mapping the financial, legal and other constraints of a scheme against its benefit objectives, and then finding possible risk solutions.
Key aspects covered
- Risk benefit objective.
- Benefit affordability.
- Prioritisation of benefits.
- Risk management, self-insurance and alternative risk transfer.
- Benefit flexibility.
- Legal environment.
- Benchmarking.
- Developing meaningful measures to assess the effectiveness of chosen solutions.
HIV/Aids Consulting
Old Mutual Group Assurance offers expert risk management services to assist clients in estimating and managing the impact of HIV/AIDS on their risk benefit arrangements. Combining this service with a Risk Policy Statement, ensures consistency between the benefit objectives of the fund, the estimated impact of various external factors (including HIV/AIDS), and the benefit structures and solutions put in place to meet these objectives.
Disability Consulting
Our aim is to create a sustainable cost-effective approach to disability management in the workplace, taking into account business, legislative and disability dynamics. Customised solutions are developed to coordinate employer practices, the disability benefit structure and all disability claims services
Absence Management
When employees know that sick leave usage is monitored on a fair basis, the usage drops significantly. Productivity thus improves when an organisation uses regular management information on company-specific sick leave trends. For example, when line managers counsel individual employees who frequently use uncertified leave – whether for health or other reasons.
Drivers of sick leave utilisation are identified on group level as well as in relation to factors such as region, type of work, age, etc. Practical recommendations, which are included in the monthly sick leave report, address both the causes of ill health and its effect on productivity.
International Group Programme (IGP)
Multi-national risk pooling offers multi-national companies the opportunity of self-insurance via appropriate profit sharing mechanisms. IGP comprises a worldwide network of major life assurance companies and is the pooling network with the largest market share. As their official South African representative, Old Mutual offers group life assurance and disability products through IGP.
Cell Captive Solutions
Structured insurance solutions can be provided to institutional clients through a cell captive mechanism using Old Mutual Alternative Risk Transfer (OMART), a subsidiary of Old Mutual (South Africa).
These solutions are suited to the institutional client who requires flexibility and control over life insurance activities, where risks could be retained or reinsured, and the insurance risks and rewards resulting from the investment decisions and underwriting activities are shared. OMART is able to provide flexible insurance policies, investment alternatives and reinsurance arrangements.
OMART is able to work together with Mutual & Federal Risk Finance, which offers risk-financing solutions for short-term insurance needs to provide a comprehensive alternative risk transfer offering to institutional clients. OMART is a legal entity in its own right and has a board of directors, ensuring appropriate corporate governance systems and processes are adhered to.
Contact Details
If you require more information, or would like to discuss your company's requirements, please contact one of our Group Assurance Consultants.