Manufacturing SME Saves 18% on Group Insurance While Expanding Coverage
Singapore-based manufacturing company, 85 employees
The Challenge
The company was renewing their group insurance annually with the same insurer without benchmarking. Premiums had increased 12% year-over-year. Employee satisfaction with benefits was declining, and two key engineers had left citing better benefits at competitors.
Our Solution
IWA conducted a comprehensive benefits audit, benchmarking their existing plans against 8 insurers. We restructured the benefits package to include enhanced hospitalisation coverage, added dental benefits, and introduced quarterly financial wellness workshops for staff.
18%
Premium Reduction
Annual savings of SGD 42,000 on group insurance
95%
Employee Satisfaction
Up from 67% before restructuring
0
Key Staff Turnover
Zero resignations in 12 months post-implementation
3x
Benefits ROI
Every $1 invested returned $3 in reduced turnover costs
“IWA didn't just save us money — they transformed how our employees perceive our company. The financial wellness workshops were an unexpected bonus that our team genuinely values.”
Operations Director
Manufacturing SME, 85 employees