The full article by The Insurance & Investment Journal is available here.
CEO Matt Houghton was recently interviewed by The Insurance & Investment Journal to discuss how keeping offices in the suburbs was the right move for cost savings and quality of life.
One of the highlights in the interview mentioned the following:
The reason to do business from the suburbs is two-fold: first is cost, acknowledged Houghton. “This is a tough industry. It’s an oligopoly. When you are trying to break into that market where the top five group insurers still have 80-plus per cent of the market, you have to have a really compelling differential.”
Then, when GroupHEALTH began setting up outside the big cities it realized something else: the suburbs where they were locating were also home to many of its employees, a good number of whom had already left the long daily commute behind them to live in a less costly neighbourhood.
Leaders in employee benefits plans and group insurance, the GroupHEALTH Family of Companies has more than 400 employees in offices in Vancouver, Surrey, Calgary, Edmonton, Etobicoke, Woodbridge and Barrie. With annual premiums in excess of $500 million and pension assets under management in excess of $5 billion, GroupHEALTH insures more than 3,900 client organizations across Canada in both the public and private sectors, supporting more than 426,000 Canadians and their families.
GroupHEALTH Benefit Solutions® (www.grouphealth.ca) has acquired or holds substantial controlling interest in several exceptional Canadian companies including Disability Management Institute, GroupSource LP, and Manion Wilkins & Associates Ltd.
GroupHEALTH is committed to transforming the way Canadians experience benefits by developing and delivering the most cost-effective benefit solutions for Canadian businesses.