Group Health Insurance for Oil & Gas Companies
When it comes to benefit solutions for oil and gas companies, there are several options to consider. A main challenge that we run into, whether we are dealing with Upstream exploration and production, Midstream logistic and storage, or Downstream companies working on refining and marketing a finished product, you are all competing for a set group of employees. To encourage these employees to choose your organization many companies offer platinum/Cadillac level benefits. You do this as these employees are used to rich benefit packages. Oil and gas insurance packages tend to be very costly and can put a huge dent on your bottom line.
At iSure we understand the challenges of trying to find an affordable solution that meets the needs of all of your employees and protects your budget. We put in the necessary work to comb through insurance packages that most brokers won’t take the time to review, may not understand, or have knowledge of at all. This intense quoting process includes leveraging the volume of business that we generate, along with relationships we have with every credible insurance carrier in the market. This practice on average saves our clients 20 to 30 percent or more on their current insurance costs. We don’t just use this high-level process to win your business, we repeat it every year to make sure you still have the most competitive rate for the products that best suit the needs of your employees. Get a quote for group health insurance for oil and gas companies today.
Other Benefit Challenges and Needs in the Oil and Gas Sector
In your sector here are some other challenges and needs that we often encounter and assist with, including but not limited to:
- Benefits Administration to help streamline and coordinate, your human resources, accounting and employee experience
- Group Size – small and large companies have unique challenges that we understand
- Compliance and Regulatory Recommendations on a state and federal level
- Multinational and diverse workforce, with unique challenges, including immigration or right to work compliance, language barriers, organizational and payroll structure
- Higher scrutiny during underwriting due to increased risk and traditional claims in the industry
It is important to note that we never charge you for using our services, our commission for assisting you comes from the insurance companies. We act as a broker and run quotes with all of the major carriers guaranteeing you the best rate for the benefits that best suit your needs as an employer.Â
Case Study
70 Person Health Care Organization
If a deal seems too good to be true, it probably is. Especially when it comes to insuring large sized businesses. A medical facility discovered that a package deal on a bundled benefits package might appear pretty on the outside, it could prove empty on the inside.
Details
- iSure negotiated better benefits for their employees saving the company $105,000 on insurance benefits and an additional $50,000 with our payroll and HR benefit partners.
- With our integrated approach, we saved the company 32% off their benefit cost from the previous year or $155,000.
