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Learn about VidaCaixa’s success story about its risk cover insurance and pension scheme for a multinational corporation in the food industry.

Situation

• Each of the corporation’s subsidiaries has its own collective bargaining agreement with different risk covers and guarantees.  
• Some of the subsidiaries have hiring surges given the product seasonality.  
• The parent company has foreseen savings guarantees for its retirement savings system.  

Problem

• The seasonal nature of its products means that the company has a high employee turnover rate with the resulting complexities of managing new recruitments and people leaving the company, which is a problem for the risk cover policies. 
• Having agreed to promote a pension scheme, some of the executives were granted sums above the legal ceiling.  

Solution

• We standardised the policy model that provides coverage for all collective bargaining agreements and agreed a management protocol, to be revised once a year, to establish a number of insured parties per subsidiary with variations agreed to make their administration simpler.
• VidaCaixa designed a tailor-made excess liability policy that reproduced the conditions and coverage of the workplace pension plan, into which they also deposited the amounts that could not be deposited to said scheme.