In an unusual move in the
competitive insurance market, US insurer Prudential Financial’s
Prudential Group Insurance unit and Swiss insurer Zurich
Financial’s (Zurich) Zurich American Life, have joined forces to
service American multinationals.
Spearheading the joint
initiative is Prudential Zurich Global Benefit Solutions, which is
described as a referral programme to help US multinationals meet
their local, international, and expatriate employee benefits
needs.
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“Our new global offering
addresses a growing need in the US for large and mid-market
employers,” says Lori High, president of Prudential Group
Insurance.
“Multinational companies are
looking for solutions to help them manage the complex issues
related to administering employee benefit plans for mobile
workforces.”
Providing Zurich’s
perspective, Sherif Zakhary, head of the insurer’s North American
corporate life and pensions operation, says: “By entering into this
referral programme, Zurich and Prudential are leveraging each of
our unique capabilities and providing customers with a single point
of entry and combined reporting for their domestic and foreign
risks.”
Products available through
the joint initiative will include group term life, accidental death
and dismemberment insurance, long-term disability insurance,
emergency evacuation and expatriate pension plans.
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