The Aon Wrap Handbook is a comprehensive guide designed for employers, trustees, and scheme administrators to navigate the complexities of group risk insurance and employee benefits. This essential guide provides an in-depth overview of the Aon Wrap platform, its features, and its benefits, as well as practical advice on how to implement and manage a successful employee benefits program.
Introduction to Aon Wrap
Aon Wrap is a flexible and innovative platform that enables employers to provide a wide range of employee benefits, including group life insurance, income protection, critical illness cover, and health insurance. The platform is designed to be highly customizable, allowing employers to tailor their benefits package to meet the specific needs of their organization and employees. With Aon Wrap, employers can choose from a variety of benefits, select their preferred insurance provider, and manage their benefits program online.
Key Features of Aon Wrap
The Aon Wrap platform offers a range of key features that make it an attractive solution for employers looking to provide a comprehensive employee benefits program. These features include:
- Flexibility and customization: Aon Wrap allows employers to choose from a wide range of benefits and select their preferred insurance provider.
- Online management: The platform provides a secure online portal where employers can manage their benefits program, including adding or removing employees, updating benefits, and accessing claims information.
- Automated administration: Aon Wrap automates many administrative tasks, such as premium payments and claims processing, to reduce the burden on employers and scheme administrators.
- Employee engagement: The platform provides a range of tools and resources to help employers engage their employees with their benefits program, including personalized communication and online benefit statements.
Benefits of Aon Wrap
The Aon Wrap platform offers a range of benefits to employers, scheme administrators, and employees. These benefits include:
Aon Wrap can help employers to:
- Attract and retain talent: By providing a comprehensive and flexible employee benefits program, employers can differentiate themselves from their competitors and attract and retain top talent.
- Improve employee engagement: Aon Wrap provides a range of tools and resources to help employers engage their employees with their benefits program, which can lead to improved job satisfaction and reduced turnover.
- Reduce administrative burden: The platform automates many administrative tasks, reducing the burden on employers and scheme administrators and freeing up time to focus on other priorities.
Case Study: Implementing Aon Wrap
A large UK-based employer with over 5,000 employees was looking to review and refresh its employee benefits program. The employer wanted to provide a more comprehensive and flexible benefits package that would meet the diverse needs of its employees. After careful consideration, the employer decided to implement the Aon Wrap platform, which allowed it to choose from a wide range of benefits and select its preferred insurance provider. The employer was able to tailor its benefits package to meet the specific needs of its organization and employees, and the online management portal made it easy to administer the program.
| Benefits | Provider | Premium |
|---|---|---|
| Group Life Insurance | Aviva | £500,000 |
| Income Protection | Unum | £2,000 per month |
| Critical Illness Cover | Legal & General | £100,000 |
Technical Specifications
The Aon Wrap platform is designed to be highly secure and compliant with all relevant regulations, including the General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI DSS). The platform is hosted on a secure server and all data is encrypted to ensure the confidentiality, integrity, and availability of employee benefits data.
Performance Analysis
Aon Wrap has been designed to provide a high level of performance and reliability, with a robust infrastructure and comprehensive disaster recovery procedures in place. The platform is regularly tested and updated to ensure that it continues to meet the evolving needs of employers and employees.
The performance of Aon Wrap can be measured in terms of its:
- Uptime and availability: The platform is designed to be available 24⁄7, with a minimum uptime of 99.9%.
- Response times: The platform is optimized to provide fast response times, with an average response time of less than 2 seconds.
- Security: The platform is designed to be highly secure, with robust security protocols and procedures in place to protect employee benefits data.
What is Aon Wrap and how does it work?
+Aon Wrap is a flexible and innovative platform that enables employers to provide a wide range of employee benefits, including group life insurance, income protection, critical illness cover, and health insurance. The platform allows employers to choose from a variety of benefits, select their preferred insurance provider, and manage their benefits program online.
What are the benefits of using Aon Wrap?
+The benefits of using Aon Wrap include the ability to attract and retain talent, improve employee engagement, and reduce administrative burden. The platform also provides a range of tools and resources to help employers communicate the value of their employee benefits program to their employees.
