Company: Foreign multinational

Sector: Food industry

Employees: 10,000, spread across 12 subsidiaries.

Situation: Each of the subsidiaries has its own collective workers agreement with different risk coverage in amount and guarantees. Some of the subsidiaries have different employment level peaks due to the seasonality of the product that they worked with.

Furthermore, the holding company had planned to offer retirement savings guarantees in its social welfare system.

Problems of the risk policies: The problem of the seasonality of the demand for the client's products involved a high turnover of workers and a complex management of employee additions and deletions.

Solution: The policy model that gave cover to all the collective workers agreements was unified and a management protocol with a yearly review was agreed upon, which established a number of insured workers per subsidiary, with agreed upon variation in numbers that greatly simplified the programme's management.

Problem of the social welfare system regarding retirement: Since the promotion of a pension plan had been agreed upon, for certain executives higher contribution amounts than is allowed by law were required.

Solution: A specially tailored excess policy was designed, which reproduced the cover and conditions of an occupational pension plan, in which payments were made to the plan that could not be made otherwise.

"The solutions here described correspond to real cases presented to VidaCaixa, with certain details that have been altered to protect the confidentiality of our clients and their business. They are given merely as a general guide and are not necessarily applicable in similar cases."

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