Globex International offers a wide range of fee-based employee benefits and pension consulting services for multinational clients of all sizes and industries.
Key Consulting Services include
- Global Help Desk
- Global Benefits Assessment
- Mergers & Acquisitions
- Due Diligence (pre-close)
- Transition Planning (post-close)
- Multinational Pooling
Global Help Desk
The Help Desk facility is a flexible, renewable arrangement available to provide ongoing consulting support for other benefits or HR needs (planned or unexpected) that arise from time to time.
Global Benefits Assessment
We have the ability to conduct a comprehensive, customizable Benefits Assessment in virtually any country across the globe. The Benefits Assessment is much more than simply an inventory of local policies and coverages. It includes:
- A local site visit and interviews by a qualified employee benefits professional
- An independent assessment of local needs, trends, customs and regulations
- A review of compulsory and supplementary benefits and pension arrangements
- A review of existing service providers (broker, market, TPA)
- A detailed benefits inventory, benchmark analysis, recommendations and implications from a local and global standpoint
- A cost analysis of recommendations
Mergers & Acquisitions
Globex and our servicing partners have the ability to support clients in two key phases of the M&A process: Due Diligence (pre-close) and Transition Planning (post-close).
Due Diligence (pre-close)
Analyzing existing benefits exposures and liabilities to identify potential red flags and quantify potential costs and liabilities.
Transition Planning (post-close)
Integrating and aligning the benefits arrangements under the new entity with overall corporate objectives.
Globex has the capability to help companies evaluate, implement and manage their multinational pooling arrangements.
Multinational pooling is a method to aggregate financial experience from local insurance arrangements across several operations in various countries. It works by experience rating each group insurance contract that participates in the pool, and then “pooling” the net results in a second stage of accounting. Positive results from some contracts offset negative results from others and the overall outcome is either a surplus or a loss to the pool. The surplus is usually returned to the employer in the form of experience dividends; losses are either carried forward to be experience rated in future years or eliminated using a stop loss arrangement.
Globex International offers a wide range of employee benefits and pension placement and account management services for multinational clients of all sizes and industries.
Key Brokerage Services include
- Overseas Brokerage Services for Local Nationals
- Expatriate Brokerage Services
- Online Quoting Facilities
Local National Brokerage Services
The local benefits environment in each country is driven by a number of factors including:
- Legal and Statutory factors
- National and Collective Labor Agreements
- Cultural norms
- Competitive practices
- The local operation’s industry and headcount
As a result, there is no universal standard benefits package around the world. Local standards and compliance requirements will vary significantly from country to country.
Through our worldwide partnership network of high quality brokers and consultants, we can help clients find, place and manage their coverage for local employees virtually anywhere.
Expatriate Brokerage Services
Expatriates (which we define as US employees who are working abroad typically for 1-5 years) are key employees, often at senior levels within the company. Companies invest a great deal of time and money to train and support these personnel, and they have a vested interest in keeping expatriate employees happy. While expatriates typically receive a number of employee benefits, their medical coverage usually ranks among the most important, and most difficult, to secure.
While dozens of carriers offer some kind of expatriate medical plan, they can differ substantially in terms of cost, coverage, claims processing, and overall service levels. Which plan is most appropriate for your client can depend on a number of considerations, including US compliance, the carrier’s claims adjudication/direct billing capabilities, and their treatment of pre-existing conditions.
Globex can work with you to walk through the process of reviewing their options and obtaining competitive quotes for expatriate coverage that best meets your needs.
We have teamed up with a handful of high-quality international insurers to provide access to an online quoting facility for a range of competitive insurers specializing in individual travel and expatriate products.
Individual Travel and Medical Insurance Products:
- Individual Travel and Medical Plans
- Group Travel and Medical Plans
- International Student and Teacher Plans
- Trip Cancellation Plans
- International Adventure Sports, Marine Crew and Evacuation Plans
Individual Travel and Medical Products
We are constantly striving to expand the range of our capabilities in order to better support the needs of multinational clients.
To enhance our service range we have formed strategic partnerships with a number of international specialty service providers. Contact Globex to learn more about these exciting add-on capabilities:
Key Add-On Services Include:
- International EAP/Wellness
- International Payroll
- International Compensation
- International / Offshore Pensions