The Empire Life Insurance Company launched this month an all-digital Group Retirement Savings platform targeting small- and medium-sized business across Canada.
Empire Life, established in Toronto more than a century ago in 1923, is today modernizing its fleet of financial services.
The latest example from the Kingston-based insurance giant is its GSR platform, which features advanced technology and a modern digital customer experience, according to a statement from Empire, which renders a company’s GRS plan instantly active and ready to use.
With “Financial stress is on the rise,” Vice-President of Group Product and Marketing Vanessa Lycos suggests that “Canadians are looking to their employers for help.”
“A group retirement savings plan can be a cost-effective way for employers to support employees with their savings goals,” Lycos offers, noting that “When employees pay themselves first through payroll contributions, saving becomes automatic, easier and less stressful.”
Christine Wyatt, Vice-President of Group Distribution for Empire, adds that “Offering a GRS plan can also provide employers a competitive edge in attracting and retaining talent.”
“It’s a key component of a holistic benefits offering,” posited Wyatt.
Empire’s GSR features a flexible plan design, Wyatt says, that allows employers to customize plans to meet both their needs as well as the needs of their employees.
“It’s well-designed, flexible and easy,” early adopter Andrew Noble of benefitsConnect Canada commented. “I don’t think it’s ever taken me more than 10 minutes to get a customer set up, which is really pretty amazing.”
The platform is “Intuitively designed,” according to Empire Life, with “Streamlined investment options” that aim to make it easy for employees with different investor profiles to create a portfolio that suits their goals.
Empire Life boasts assets under management of approximate $20 billion.
Leave a Reply