A Game changer for employers
Mercer and Marsh have formed the largest benefits brokerage and related advisory business in the New Zealand market with the launch of Mercer Marsh Benefits™.
The launch follows a global initiative by the two companies to collaboratively address employee benefit cost growth around the world. Mercer Marsh Benefits™ brings together Mercer and Marsh’s existing employee health and insured benefits businesses, which comprise 17,500 benefits professionals worldwide and clients in more than 150 countries. The two companies place in excess of US$60 billion in benefits premiums and equivalencies annually.
Employee benefits and health programs are increasing in complexity and cost in New Zealand. The launch of Mercer Marsh Benefits™ will offer organisations a single source to manage the costs and complexities of employee benefits and health programs, with the new business maintaining a focus on three core areas of life and disability insurance, international benefits, and health and wellbeing.
Mercer’s Managing Director in New Zealand, Martin Lewington, said, “Controlling the costs of employee benefits programs will be increasingly challenging with the New Zealand life market going through a significant pricing correction. Successive and steep premium increases have made benefits like disability insurance, salary continuance and health insurance more expensive to offer but employers are acutely aware of the continuing need to providing them.”
“Mercer Marsh Benefits™ combines Mercer’s expertise in employee rewards and benefits and Marsh’s dominance in the insurance broking market, allowing us to leverage the power of two market leaders.
“Our advantage will be in providing a seamless process, from advice on workforce risks and benefit design, to placement, program administration and claims, which wasn’t possible for Marsh or Mercer to deliver in isolation,” he said.
“Marsh has been providing employee benefits solutions to New Zealand businesses for more than 55 years”, said Grant Milne, New Zealand Country Head for Marsh. “Combining this with the expertise that our sister company Mercer offers means businesses will have access to an even greater pool of resources and expertise to help manage their people risks.”
“We no longer operate in an environment where it is just the employer choosing the employee and this is where benefits and rewards make a huge difference”, says Milne. The new power of Mercer Marsh Benefits™ will really enable forward thinking organisations to stand out from the crowd by offering their people the best benefit and reward options available.”
To learn more about how Mercer Marsh Benefits, visit www.marsh.co.nz/mmb
Mercer is a global leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset – their people. Mercer’s 20,000 employees are based in 43 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With 55,000 employees worldwide and annual revenue exceeding $12 billion, Marsh & McLennan Companies is also the parent company of Marsh, a global leader in insurance broking and risk management; Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a global leader in management consulting. Follow Mercer on Twitter @Mercer_NZ