why work with us?
a complete guide for advisers
10 reasons why you should work with Ellipse.
1. Full range of group risk products, for all employers
All group risk products offered - group life, critical illness and income protection - so you have one provider for all your group risk needs. We provide the right mix of people and technology, so we can deliver smarter insurance to companies of all sizes.
Our processes at a glance
2. Competitive premiums
Working smarter means we are more efficient, which helps us to offer cheaper premiums. We don't need to charge policy fees or minimum premiums either, so our premiums for small businesses are especially competitive.
3. Top rated online services for SMEs
In the 2017 ORC International adviser survey, our online quote system was ranked 1st amongst group risk insurers. Better systems means it's easier and cheaper for you to get quotes, go on-risk and administer schemes.
4. A complete commitment to service, so you can trust us with your clients
We consistently receive good scores from advisers and are the only insurer to publish Key Service Indicators (KSIs), which show how good or bad we are at serving our customers.
"Good customer service is so important, advisers must be able to trust us with their clients."
- Lee Lovett, Chief Executive
5. Expert advice and support for large, complex schemes
By investing in technology to automate simple administrative tasks, our team can spend more time supporting larger, more complex schemes. We can offer bespoke policies for these employers to meet their requirements, both with scheme design and ongoing administration.
Rated 4/5 stars for customer service by advisers.
6. Smarter processes so SMEs can administer their own policy
Once a policy has been setup, clients with less than 200 employees can administer their own scheme online. This works well for small schemes where the cost of administration for you is too high.
7. Business processes that reduce operational risk and keep you safe
We are clear about the information we need to setup and administer our policies and we always ask employers to sign an application form before starting the policy. This provides contract certainty for you and your client and mitigates operational risk. Advisers new to group risk should take comfort from this.
8. Financial strength
Being wholly owned by Munich Re, our financial ratings are amongst the strongest in the group risk market. This gives you and your clients the confidence that we will pay claims when we say we will.
"We will continue to innovate to make group risk processes smarter, helping advisers to reduce risk and improve productivity"
- Chris Morgan, Chief Marketing Officer
9. Award winning products with added value services
We design our products to provide more than just insurance, helping to meet the broader needs of employers and employees. Our group income protection product can include an online absence management service, while our group life product includes bereavement support and an online beneficiary nomination service.
We have won Best Group Life at the COVER Excellence awards most recently in 2016 and our critical illness product was recently rated Gold standard 8/10 by Protection Review. We have also been Highly Commended as the Best Group Risk Provider for the last three years in the Corporate Adviser Awards.
10. Flexible and voluntary benefits
We also provide flexible and voluntary variants of our group life and critical illness products, uniquely available for companies of all sizes, so SMEs can set up these schemes too. You can even get quotes online. Employers will need an online benefits platform to administer the scheme.
- Over 370,000 employees covered
- 4,448 employers insured
- 1,458 UK financial advisers signed up
(As at June 2018)
P.S. If you're not, others will be!
We've grown a lot since we started in 2009, now working with 1,458 UK adviser firms, so if you are not using us for group risk, be aware that other advisers will be...
End of Q1 2018
In a nutshell...
Great products, smart processes and top service so you can trust us with your clients.
our offer for SMEs
why we're a great fit for your small business clients
By innovating and introducing new technologies we are able to offer smarter, faster and better value products for SMEs.
We recognise that SMEs value simplicity. They are usually short on time and resources, and expect their insurance products to give them everything they need.
So we've designed all our products to provide a package of insurance and non-insurance benefits that gives employers everything they and their employees need.
For example, our group life product includes a MasterTrust so employers do not need to set up their own trust and an online nomination of beneficiary service so they don't need to manage paper forms.
Our group income protection insurance cover options include Sick Pay and Sick Pay Complete. Both are administered in the same way with Pay Direct available for both. The key difference is that Sick Pay Complete includes an integrated absence management tool, TeamSeer, so the employer can better manage absence. Sick Pay does not include TeamSeer and is well suited to those employers who are already managing absence well.
Lower costs, cheaper premiums
Automating simple administrative tasks helps us to be more efficient, which lowers costs. Not only is it quicker and more convenient for you to manage your policy online, it reduces our costs so we can provide cheaper premiums. We also don't need to charge minimum premiums or policy fees, handy for micro businesses.
Easy to use admin systems
Our online quotes system is rated top in the market (ORC International, 2017) and we consistently get good feedback from advisers about our administrative systems too.
Not only does this make it easier and quicker to set up a policy, you can leave your client to administer their own policy online with confidence.
For policies with 100+ employees data can be uploaded annually, with a quarterly update required for smaller policies.
We also complete all medical underwriting online too, with a quick and simple online assessment for employees.
Read up on our group life, critical illness and income protection products and sign up here.
we're well suited for big businesses too
Our first policy in 2009 covered over 1,000 employees. Since then we've been trusted with some of the UK's biggest employers. Here's why.
Market experience and financial strength
Our parent, Munich Re, is one of the largest global reinsurers with many years experience in UK employee benefits. This underwriting expertise means we can bespoke our policies to cover even the most complex schemes.
The financial ratings of our parent company are such that you can be confident that we will pay claims and pay them quickly.
We can offer catastrophe cover of up to £500m at any single postcode, with large limits routinely still available in the City of London.
Consultative quote and on-risk support
All quotes are provided offline by our expert underwriters, with our Distribution Consultants on hand to guide you through the process to make sure we meet all of your requirements.
"For large complex schemes, we focus less on technology and more on people and process. "
Chris Morgan, Chief Marketing Officer
Dedicated administration support
We'll appoint an expert in our Client Service team to manage your scheme. They'll handle the annual data refresh and answer any questions you may have about our invoice process. Read more about group life, critical illness and income protection, and our processes here.
helping you grow
the group risk opportunity and how we can help you maximise it
Now is the perfect time to get involved in group risk.
We believe that workplace pensions reforms and the introduction of auto-enrolment is a big opportunity to offer group risk products to new employers who don't have these benefits.
While benefits are commonplace amongst larger employers, few SMEs buy these products. With all employers now compelled to offer a pension, the most basic workplace benefit, we think many of those will be interested in supplementing this with complementary protection such as group life insurance.
Advisers are well placed
If you're already providing pensions advice, why not broaden your product offer? If you advise high net worth individuals, why not talk to them about their business needs?
Simple products and online services make it easy to get involved
We work with lots of advisers new to group risk. Our online services put you in control, giving you more time to find new clients. Finally, check out our Knowledge Hub for best practice advice too.
Is there a growth opportunity for group risk in the next 3 years?
a bit more about us...
In a nutshell.
We are a group risk insurer. We provide group life, critical illness and income protection insurance for all employers, small, medium and large.
Protecting people is our reason for being. It's what motivates us to challenge and innovate and look for new ways to do this business.
Our market leading online systems provide speed, convenience and efficiency through automation. This makes it easier and cheaper to get more people covered. It also gives our people more time to focus on delivering great service that truly adds value, so you can trust us with your clients.
The right mix of people and technology to deliver smarter group risk insurance.
We were founded in 2009 to do things better in the group risk industry. So ever since we’ve been pioneering innovation to offer companies of any size smarter, faster and better value group life, critical illness and income protection products.
We achieve this through the dynamism and expertise of our people, amplified by continual innovation in technology, processes and automation, all backed by the financial strength of Munich Re, our parent company.
Our approach to protecting people allows us to deliver better value, more accurate cover and prioritise giving great service to every adviser, employer and employee in our care.
A Munich Re company
Ellipse is wholly owned by Munich Re. They are one of the largest global reinsurers, with 47,000 employees worldwide and 49bn annual premium revenue in 2017.
Financial ratings for Munich Re group:
- Standard & Poor's AA-(Very strong)
- Moody's Aa3 (Excellent)
- Fitch AA (Very strong)
In everything we do we believe in challenging ourselves to find better ways to protect and care for more people, more efficiently, more seamlessly and more affordably.
Because protecting people is our business.
Ellipse is the trading style of the UK Branch of ERGO Lebensversicherung Aktiengesellschaft, which is registered in England. Registration Number: BR010594. Registered office: 15 Bermondsey Square, London SE1 3UN. ERGO Lebensversicherung Aktiengesellschaft is authorised by BaFin (the German Federal Supervisory Authority), registration number 1184 and is subject to limited regulation by the Financial Conduct Authority.
Details of the extent of our regulation by the Financial Conduct Authority are available upon request.
More information about our corporate structure and financial ratings can be found on our website.
This presentation is for financial advisers only and has not been designed for use by employers or employees.