Perigon Life launches new platform offering portable group-rate benefits through a unified digital system
A national survey conducted by Environics Research revealed gaps between Canadian employees’ desire for voluntary benefits and their access to them.
The survey found that most employees consider benefits essential to their happiness and job retention.
According to the results, 93 percent of respondents said benefits and insurance options directly influence their workplace satisfaction and decision to remain with their employer.
Despite this, only 2 percent said they would ask their employer for more insurance options, even though 66 percent expressed interest in optional add-on insurance.
About one-third of respondents felt underinsured, with cost cited as the main reason.
Most respondents said they would spend $15 to $50 per month for additional coverage if it were easy to access through their workplace.
Respondents ranked integrated mental health coverage as important, with 83 percent indicating its significance and half rating it “very important.”
Critical illness insurance and group wellness programs were the top choices among benefits that are not widely offered. Younger adults aged 25–34 and women were more likely to prioritise wellness coverage.
Most respondents—88 percent—had a group health plan, and 75 percent said their plan offered optional add-ons. Of those with access to add-ons, more than half opted in.
Only 25 percent said they would look online for additional coverage, showing continued reliance on employer-based access.
Following the release of these results, Perigon Life launched its voluntary benefits platform in Canada.
The online platform allows employers and associations to offer insurance options through group rates.
It includes coverage such as critical illness, life, legal, identity theft, pet, and home system and appliance warranty insurance.
According to the company, the platform combines benefits that would otherwise be accessed through separate providers.
Enrolment is employer-led, and payments can be deducted from pay with minimal paperwork. During open enrolment, critical illness and life insurance coverage is guaranteed with no medical information required.
The platform includes portable insurance. Employees can maintain the same coverage and group rates if they leave their employer. Perigon Life oversees the offboarding process.
Insurance partners include Allstate Benefits, Blue Cross, ICPEI, and Fetch.
Perigon Life was founded by Martin Shaw, former CEO of NFP Canada. Shaw said he launched the company because “Canadians are underserved by current insurance distribution models.”
In a recent article published by Benefits and Pension Monitor, Shaw said the issue with the Canadian insurance model goes beyond inefficiency and is rooted in exclusion, noting that agents tend to focus on higher-income individuals.
He said this leaves average employees assuming their workplace plans are sufficient, despite those plans not being designed for long-term financial protection in catastrophic events.
Perigon’s approach centres on voluntary benefits that remain with employees even when they change jobs, with the company managing offboarding without cost to plan sponsors or members.
He said this portability is key to long-term stability and should be a standard consideration separate from core group benefits.
| This Perigon Life commissioned survey of 975 insured Canadians found strong interest in wellness benefits among women and those aged 25–34. |
