Ellipse Group Income Protection

January 2019 Ellipse: GIP


Ellipse has updated its Group Income Protection proposition, Sick Pay, which is now available to firms with as few as two employees and there is no maximum number that can be covered. In addition, Ellipse has added the capability to provide flexible benefits.

Other improvements include a lump sum payment option following a limited term, a higher maximum benefit, more options when covering pension scheme contributions and greater flexibility to accommodate different State benefit deductions.

The improvements build on the existing GIP proposition, which includes an employee assistance programme, day one early intervention and vocational rehabilitation.

Comment: In June, AIG Life announced that it would be acquiring group risk insurer Ellipse from Munich Re. The move allows it to complement its existing individual protection offering, giving it access to the thriving group risk space, and with an insurer that also has a reputation for innovation.  Ellipse CEO Lee Lovett said, when announcing these product changes: “As we work towards our integration with AIG Life, improving our products so that they appeal to more employers is a top priority, and GIP is first on the list.”

That sounds encouraging and, to launch within half a year of the takeover announcement is also a positive.

The changes themselves are also good news, allowing employers to add flexible benefits and to have more scope to include benefits that previously were not available or to tweak cover to best meet their needs. It adds up to a good package that should help Ellipse to appeal to more employers.

Plus points: The first major product changes since Ellipse’s becoming part of AIG; Can now effectively cover most employers with two or more employees; Adding flexible benefits will appeal to a growing number of employers.

Not so plus points: Any takeover can be a worrying time, as the new organisation has to prove itself with new developments while also managing becoming part of another organisation and continuing to provide high service levels.


Rating (max 10): 8. Gold

Tags: GIP; Ellipse

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