In today’s competitive landscape, Canadian employers are constantly seeking ways to enhance employee satisfaction and retention. Voluntary benefits are emerging as a key solution, offering employees the ability to personalize their coverage based on their individual needs. Segic, through its innovative platform, simplifies the integration, management, and administration of these benefits, transforming the way collective benefits programs are delivered.
Voluntary benefits: a growing trend in Canada
While voluntary benefits are already well-established in the U.S., they are rapidly gaining ground in Canada. According to a LIMRA study, around 14% of Canadian employers currently offer insurance on a voluntary basis, and the trend is rising. Employers recognize that these options provide greater flexibility, allowing employees to select coverage tailored to their personal circumstances.
Segic’s offering: simplification and personalization
Segic’s platform is revolutionizing how voluntary benefits are integrated into collective programs. Here’s how:
Seamless integration
The platform makes it easy to add voluntary benefits to existing programs, offering unprecedented flexibility.
Centralized administration
With Segic’s third-party administrator (TPA) service, employers benefit from simplified management with a single consolidated invoice—even when working with multiple providers from the Benefits Marketplace.
Simplified workforce management
Employee arrivals and departures are efficiently managed, ensuring only active participants are billed—optimizing cost management for employers.
The positive impact of voluntary benefits on collective programs
Integrating voluntary benefits offers several strategic advantages for employers:
Attracting and retaining talent
Offering a wide range of voluntary benefits makes a company more attractive to top talent and strengthens engagement among current employees.
Cost control
Since voluntary benefits are typically employee-funded, employers can expand their offering without significantly increasing benefit costs.
Customized coverage
Employees appreciate being able to choose benefits that suit their personal needs—enhancing engagement and overall well-being.
Key statistics on the potential of voluntary benefits in Canada
90% of Canadian employers
offer at least one voluntary benefit, a slight increase from previous years.
Popular benefits
Life insurance (74%), accident insurance (54%), and critical illness insurance (52%).
15–30% of the payroll
is dedicated to employee benefits, depending on the size of the company.
Conclusion
With the support of Segic’s platform, the adoption of voluntary benefits represents a winning strategy for Canadian employers looking to optimize their collective benefits programs. By offering more flexibility, simplified management, and personalized coverage, companies can not only attract and retain top talent—but also create a workplace where employees feel truly valued and supported.
