Project Human Capital

This leading biopharmaceutical company develops state-of-the art medicinal products and needs a large team of R&D professionals towards this end. The challenge for ADD was to offer all kinds of interesting employee benefits without any dramatic cost increases. Employing a great many R&D professionals, this Belgian pharmaceutical company was keen to reward these highly trained specialists with generous employee benefits. Obviously without overburdening the cost structure.

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Stage one involved having the ADD specialists make an analysis of the pharmaceutical company's existing group insurance. The defined benefit plan could apparently create high costs in the event of new appointments.

Think

ADD converted the Belgian pharmaceutical company's defined benefit plan into a defined contribution plan. We negotiated the appropriate cover options and premiums with various insurers, while developing a simulation model to achieve a transparent and easily budgeted pension solution.

In the final analysis, group insurance is designed for a company's employees, which is why ADD arranged to have information sessions organised and produced a brochure for the people working for the Belgian pharmaceutical company. They unanimously approved the cover.

ADD is also set to continue to be the point of contact for the various insurers taking charge of the pharmaceutical company-related group insurance components.

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Project Human Capital

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