Alexander Forbes, Mercer partner to launch Pan African benefits solution “Arrive”

Alexander Forbes, a leading African financial services company, has partnered with Mercer, a global health and benefits consulting firm, to launch 'Arrive,' a Pan African benefits solution that aims to address the challenges faced by corporates and multinationals operating across the continent. The collaboration between Mercer and Alexander Forbes is the first of its kind, offering a comprehensive suite of benefits services spanning health, wealth, and career solutions. Craig Bentley, the Managing Executive of Coverage at Alexander Forbes, discussed the significance of this strategic partnership on CNBC Africa. The key theme of this collaboration is to streamline and simplify benefits for companies operating in multiple African countries. Bentley highlighted the complexities, regulatory differences, and the difficulty in standardizing benefits across various jurisdictions as major challenges faced by organizations in Africa. Through 'Arrive,' Mercer and Alexander Forbes aim to provide a seamless solution that can be implemented wherever a company operates on the continent, offering a single point of contact for all benefit-related needs. Three key points discussed in the interview include: 1. Expertise in Consulting and Advisory Services: Both Mercer and Alexander Forbes bring their strengths in consulting and advisory services to the partnership. Mercer's global health and benefits consulting expertise combined with Alexander Forbes' experience in the African financial services sector allow them to offer a tailored solution to clients operating in multiple countries. 2. Addressing Complexity and Regulatory Challenges: The collaboration focuses on understanding the local market requirements and working with a network of partners in each country to navigate the complexities of varying legal systems and regulations. By coordinating with local entities and providers, 'Arrive' aims to remove the burden of managing diverse benefit structures from the client. 3. Simplifying Benefit Design and Implementation: 'Arrive' aims to simplify the process of designing and implementing benefits by providing market intelligence, understanding benefit structures, and guiding clients through standardizing their benefits across different countries. By leveraging the collective capabilities of Mercer and Alexander Forbes, the partnership seeks to demystify the complexities associated with benefits in Africa. Bentley emphasized the importance of understanding the market intelligence and benefit structures in each country to tailor solutions accordingly. He acknowledged the challenges posed by regulatory issues, social security structures, and the need for supplemental covers in many African countries. However, by leveraging their collective expertise and experience, Mercer and Alexander Forbes aim to deliver a seamless and cost-effective benefits solution for corporates. In conclusion, the launch of 'Arrive' signifies a significant step towards revolutionizing benefits management in Africa. By offering a comprehensive solution that addresses the unique challenges faced by companies operating on the continent, Mercer and Alexander Forbes are pioneering a new approach to benefits consultancy in Africa.