Snap-On, the automotive tool manufacturer, has appointed Jelf Employee Benefits to oversee its private health insurance benefits.
Following the Jelf review, Snap-On is now able to provide its staff with a better benefits package and save considerably on costs. The price reduction enabled the company to provide a new Employee Assistance Programme (EAP) for its staff. The EAP offers a confidential service so employees can benefit from advice on relationships, stress, debt and law should they need it. Jelf has also been advising Snap-On Business Solutions on its pension scheme for approximately 3 years.
Paul Clarke, Director of HR, of Snap-On UK Holdings said, “We’ve achieved significant savings by switching to Jelf, and employees have been more than cared for in the transition. They have been carefully informed about the changes, letting them know the background to the switch, including the benefits to them and the business, including letting them know about cost savings. In this day and age, people accept we’ve got to change if we can get the same value at a better price.
“Whilst we didn’t want a massive broker, where we’d be a small fish in a big pond, we did want to feel secure that we were working with a company which has buying power and influence to get good quotes from the market. Jelf also broker pensions for Snap-On Business Solutions; it was their recommendation that we talk to Jelf about our healthcare needs.”
Jane Knight, Director of Jelf Employee Benefits, adds, “By investigating thoroughly, we found that Snap-On’s loss ratio was low and they would be better off in a claims-related contract. The company is now benefiting from the better medical benefits, continuous underwriting terms, and a significantly lower premium. Employees have also provided positive feedback about the new EAP service which offers unlimited telephone counseling and 6 face to face sessions, offering help with stress, financial management, employment, consumer and property law”.