MAXIS GBN to enhance global pool solution
MAXIS Global Benefits Network (MAXIS GBN) has announced that it will be enhancing its MAXIS global pool solution. Its updated solution, designed to support multinational employers at every stage of their pooling journey, includes a multi-employer pool (MEP) methodology, complementing its single-employer pool (SEP) offering.
Under this new model, smaller MAXIS pool programmes will become part of the MEP, transitioning to a SEP if and when their pool grows. MAXIS GBN said that the MEP approach helps reduce the volatility of smaller pool programmes and make the experience more predictable for multinationals looking to manage employee benefits (EB) via a pool.
Nicola Fordham, chief solutions officer at MAXIS GBN, said: “We’re delighted to be offering multi-employer pool as part of MAXIS Global Pool Solution. Pooling has been an important part of the global EB landscape for over 50 years and I’m pleased that our enhanced pool solution makes this a viable option for more employers to manage their EB risks.
“Volatility can be a key issue for smaller pool programmes, making it hard to recover the programme after a loss. By introducing a MEP methodology, we can improve the experience for pools with a smaller premium, reduce volatility of the programme and minimise the impact of any losses.
“The addition of MEP helps make our pooling portfolio more robust, meaning we can continue to service our multinational clients to the highest standard and provide a solution that really suits them.”
Fordham told Captive International that by adding MEP to the MAXIS Global Pool Solution, the company hopes to lower the barriers to entry for global management of EB risks, enabling multinationals with smaller portfolios to start a global programme and take a more centralised approach to EB. The MEP approach aims to help reduce the volatility of these smaller programmes and help multinationals grow their EB programmes more sustainably.
“We often see multinationals looking to grow their pool programme and then transition to a captive to manage EB risks, so a less volatile start to their global management journey should only help the multinationals that aspire to an EB captive programme,” she said.
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