Balancing cost, care, and community in group benefits

Understanding the importance of financial protection in uncertain times is something Sunil Hirjee, vice president, group sales and partner experience, Ontario, Western & Atlantic Canada at Beneva, has always held close. Hirjee’s approach to group benefits is deeply personal, influenced by his own family’s experience with Canada’s healthcare system. As the child of first-generation immigrants, he witnessed firsthand the challenges of navigating social assistance and private insurance. This personal insight fuelled his passion for making group benefits clearer and more accessible to Canadians. “There’s a huge need to protect yourself from situations that can impact your financial situation when it comes to your health and well-being,” Hirjee emphasizes. Hirjee’s journey in group benefits insurance started unexpectedly – simply trying to pay for university through a temp job at a major insurer –

What sets Beneva apart is its focus on mutualism – a business model that prioritizes the well-being of members and communities over shareholders. Both Hirjee and Beneva share a deep-rooted belief that group insurance should not just be about offering policies but about helping people understand and use the protections available to them. “Knowing where to go for what you need is key, and private plans can help facilitate that with the right communication strategies,” Hirjee says.

At a recent Benefits Canada Healthcare Survey seminar, key challenges like drug plan costs and inflation were highlighted as major concerns. Another challenge is the increasing utilization of benefits – people are using more of what’s available to them, and expectations are rising across the board. People have diverse needs, and what works for one employee may not work for another. However, Hirjee maintains, “None of the survey results we saw came as a surprise, which is great news because it shows we’re on top of what’s happening. We know the biggest pressure point for plan sponsors is delivering high-quality benefits within the constraints of tight budgets. There isn’t a one-size-fits-all solution, but we offer a range of strategies to help, whether you’re focused on drug cost management, reducing absences from chronic conditions, or offering more flexibility in coverage.”

While managing costs is a critical part of Beneva’s approach, the company’s broader mission goes far beyond financial considerations. Hirjee emphasizes growth concerns acquiring new clients but also maintaining strong relationships with the ones you already have. “I want to start by focusing on our existing clients,” he says. “It’s not just about expanding our reach but ensuring that those who adopted us early on become ambassadors and advocates for their experience with us. “That’s why we emphasize a very close service model, where every group is assigned both an account executive and a service representative. We believe strongly in delivering a proactive service, consistently reaching out and engaging with our clients. It is much more expensive to acquire a new business partner than to keep an existing one.” Hirjee’s approach to client retention emphasizes the importance of prioritizing service and meeting evolving needs. He recalls a question he loves to ask when recruiting: “What’s more important – the acquisition of a new client or keeping a happy client?” His answer is clear: “An unhappy client can really tarnish your brand. It has a real impact on new business acquisition.” A leadership style that is driven by a strong belief in diversity, equity, and inclusion (DEI) stems from Hirjee’s own experiences. His immigrant background, hailing from a fairly small town in Ontario, and being a member of the LGBTQ community give him a unique perspective on the importance of fostering an inclusive environment. “I want to have the biggest perspective on the diverse needs of the market,” he explains, stressing that without inclusivity, diversity alone isn’t enough. Building a culture of equity and inclusion is not just a personal mission – it’s a business imperative. “If you haven’t created a culture of equity and inclusivity, then you’re not going to get that open willingness to share opinions that are so valid,” he says. At Beneva, this approach is helping the organization better understand and meet the diverse needs of its clients. Beyond service, as a mutual organization, Beneva is deeply committed to giving back to communities. The insurer is involved in several philanthropic initiatives, particularly around mental health and anxiety, including one with York University.

Beneva is helping organizations take proactive steps to prevent certain issues from becoming costly in the first place. This includes promoting health and preventing conditions through active, healthy habits. By taking a strategic approach, plan sponsors can achieve small but impactful gains in managing these challenges.

Spotlight

For both Hirjee and Beneva, group insurance is about creating sustainable solutions that work for both employers and employees. Small and medium-sized enterprises often face the greatest challenges in this area, with rising healthcare costs making it difficult to provide comprehensive benefits. There’s a huge opportunity to have an impact, Hirjee says, especially when it comes to balancing employee expectations with budget constraints. “In my opinion, most employers genuinely want to offer this kind of comprehensive support and ensure their people feel safe, valued, and well taken care of. The challenge is that none of it comes without a cost, and those costs can be significant and ever-changing. “My vision is to help position plan sponsors in a way that allows them to truly support their most valuable asset – their human resources – while ensuring they can do so sustainably over the long term. This requires navigating the dynamic pressures of rising costs, tight budgets, and the evolving needs and expectations of employees.” Hirjee sees these challenges as opportunities for Beneva to innovate and improve. Simplifying communication and providing better tools for members to understand their coverage are key focuses for the organization. “We’ve been creating a state-of-the-art IT ecosystem for the last four years,” Hirjee shares, noting that this investment is designed to address emerging trends in the industry. Beneva’s approach focuses not only on managing costs but also on promoting wellness and preventive care. By helping plan sponsors navigate the pressures of inflation and rising healthcare utilization, Beneva can offer flexible solutions that work for both sides.

Created by the coming together of La Capitale and SSQ Insurance, Beneva is the largest insurance mutual in Canada with more than 3.5 million members and customers. Beneva employs over 5,500 dedicated employees: people looking out for people. Its humane approach is rooted in mutualist values that are shared by its employees: caring, collaboration, client focus, performance, and innovation for the future. With $25.2 billion in assets, Beneva positions itself as a major player in the insurance and financial services industry.

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1941

La Capitale was founded

3.5 million+

members and clients

5,500+

employees from coast to coast

$25.2b

assets

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“Live as if you were to die tomorrow. Learn as if you were to live forever” – Mahatma Ghandi

Sunil Hirjee

Vice president, group sales and partner experience, Ontario, Western & Atlantic Canada at Beneva

How Sunil Hirjee and Beneva’s people-first approach is helping employers manage rising costs while supporting employees’ diverse needs

Read on

My vision is to help position plan sponsors in a way that allows them to truly support their most valuable asset – their human resources – while ensuring they can do so sustainably over the long term”

Sunil Hirjee, Beneva

“It’s not just about expanding our reach but ensuring that those who adopted us early on become ambassadors and advocates for their experience with us”

Sunil Hirjee, Beneva

The Art Of Listening

Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai. That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members. “Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all

Another recent initiative Adams has been happy to spearhead tackles an issue the entire world is seeking to address: racial justice.

While she’s proud of the strides Fundserv made in 2020, Adams acknowledges that it was a challenging time as a leader. Not only did she have to ensure Fundserv kept running efficiently as her team transitioned to working from home, but she was also filled with concern for her team members. “I just worried about our employees, their mental health and if they would be OK,” Adams says. “I like to see people, so I set up one-on-ones just to connect with them. Moving forward, Adams says Fundserv’s goals remain aligned with those of its members, and her team will continue listening and understanding what members need so the organization can evolve accordingly. She adds that she wants Fundserv to be so good at providing a secure and reliable service that members forget it’s there – and she wants the company to continue to inspire change in the industry. “It is sad that it took a pandemic to recog-nize the cheque issue and solve it,” Adams says. “What we will do in the future is root out those things in the industry and not wait for a pandemic to ignite change. There is no reason we can’t change. Change, like auto-mation, will accelerate from now, and we’ll do our part to keep it going.”

Spotlight

During her time at Fundserv, Adams has had the opportunity to work on projects that have left an impact on both her and the financial industry. One of the ones she’s most proud of began this past year as a result of the COVID-19 pandemic. “Serving the purpose we do, as this technology platform that connects people in the industry, one of the most exciting things has been listening to our members and responding with solutions,” Adams says. “Early in the lockdown, we started Industry Forums, a space where members could connect on resolutions to common issues caused by the changing work environment.”

Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products. Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members. We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards. By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.

Company Profile

1983

YEAR FOUNDED

100

MANPOWER

43%

PROPORTION OF WOMEN AMONG FUNDSERV EMPLOYEES

60%

PROPORTION OF WOMEN IN LEADERSHIP

63,514,128

NUMBER OF ORDERS PROCESSED IN 2019

“Managing people or a team is about one-on-one relationships – knowing an individual regardless of where they are from, what gender they are or what their background is. It comes down to understanding them individually”

Karen Adams, Fundserv

“The number-one priority [for Fundserv] is to be this indispensable hub at the centre of the investment industry and to truly collaborate with everyone who connects with us”

Karen Adams, Fundserv

Years of Experience

Fast Facts

Gaining international experience and learning about different people and cultures

Karen Adams

President and CEO at Fundserv

Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent

Read on

Another recent initiative Adams has been happy to spearhead tackles an issue the entire world is seeking to address: racial justice.

Spotlight

Company Profile

1983

YEAR FOUNDED

100

MANPOWER

43%

PROPORTION OF WOMEN AMONG FUNDSERV EMPLOYEES

60%

PROPORTION OF WOMEN IN LEADERSHIP

63,514,128

NUMBER OF ORDERS PROCESSED IN 2019

Years of Experience

Fast Facts

Gaining international experience and learning about different people and cultures

Karen Adams

President and CEO at Fundserv

Career highlight

Read on

Karen Adams, Fundserv

“The number-one priority [for Fundserv] is to be this indispensable hub at the centre of the investment industry and to truly collaborate with everyone who connects with us”

Karen Adams, Fundserv

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In Partnership with

Cost pressures and progressing employee expectations

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Published November 04, 2024 4

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but evolved into a fulfilling career. His diverse roles, from operations to client-facing positions, have shaped his leadership in the group insurance sector. In 2020, joining Beneva just weeks before the global pandemic, the role aligned with his values: “I’ve seen how the specific culture I wanted became a lived reality.”

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About

Directories

Resources

Investments

Pensions

Benefits

News

RSS

Sitemap

Privacy

About us

External contributors

Authors

Terms & Conditions

People

Companies

5,500+

employees from coast to coast