Mercer and Marsh have formed the largest benefits brokerage and related advisory business in the New Zealand market with the launch of Mercer Marsh Benefits.

The launch follows a global initiative by the two companies to collaboratively address employee benefit cost growth around the world.

Employee benefits and health programs are increasing in complexity and cost in New Zealand.  The launch of Mercer Marsh Benefits will offer organisations a single source to manage the costs and complexities of employee benefits and health programs, with the new business maintaining a focus on three core areas of life and disability insurance, international benefits, and health and wellbeing.

“Controlling the costs of employee benefits programs will be increasingly challenging with the New Zealand life market going through a significant pricing correction," Mercer NZ managing director, Martin Lewington said. "Successive and steep premium increases have made benefits like disability insurance, salary continuance and health insurance more expensive to offer but employers are acutely aware of the continuing need to providing them.”

“Our advantage will be in providing a seamless process, from advice on workforce risks and benefit design, to placement, program administration and claims, which wasn’t possible for Marsh or Mercer to deliver in isolation,” he said.