Co-operators Employee Benefits – Company Review 2024
Co-Operators is a top insurance and financial services cooperative in Canada. They provide group benefits plans to organizations nationwide. Co-Operators has over 75 years of experience serving Canadians. They are a premier source of employee benefits.
Co-Operators History and Founding
Co-Operators was founded in 1945 by farmers who joined to provide fire insurance to rural Canadian communities. The organization was structured as a cooperative focused on serving the needs of members and investors in the communities where they operate.
This cooperative structure remains today, with Co-Operators owned by over 50 member organizations across Canada. As a cooperative, profits are invested in the business to improve service and products rather than maximizing shareholder value.
The organization has grown beyond its roots to become one of the country’s premier property, life, health, travel and commercial insurance providers. Co-Operators employs over 6,000 Canadians, providing coverage to over $56 billion in assets.
Source: https://protectyourwealth.ca/co-operators-life-insurance-review-canada/
Canadian Owned Cooperative Company
As one of the only Canadian-owned insurance cooperatives, Co-Operators distinguishes itself on the values front. The cooperative model aligns the company’s interests with the wellbeing of clients and communities.
Cooperatives often score higher in client satisfaction, trust and transparency. Member organizations in the cooperative elect the Board of Directors, allowing clients to guide the business.
With no shareholders to appease, Co-Operators reinvests profits into improving products, services and social impact initiatives that resonate with Canadian employers.
Co-Operators Group Benefits Offered
Co-operators provide full group benefits options for organizations to build tailored employee packages. Their flexible plans allow businesses to mix and match various levels of coverage across:
- Health insurance: Extended health care, emergency travel assistance, dental plans, health spending accounts, virtual healthcare and more.
- Life and income protection: Life insurance, accidental death and dismemberment (AD&D), critical illness, short-term and long-term disability.
- Health and wellness: Access to employee assistance programs (EAPs), online health resources, second opinion services and health care navigation.
Plan Sponsor Support and Tools
Choosing a supportive group benefits partners and can significantly ease HR administration. Co-operators provides plan sponsors with resources like:
- BenefitsNow is an online portal that allows users to access reports, billing, member info, and support tools.
- Dedicated account managers and client service teams are available by phone, email and chat.
- Onsite visits to review plans and assist with renewals and employee education.
- Quarterly newsletters with benefits insights, workplace tips and product updates.
- Communications support, including posters, presentations and promotional materials.
These platforms and people resources help businesses manage plans seamlessly while engaging employees.