Canada Life, together with the newly acquired team of ClaimSecure, has launched a new bundled offering for plan sponsors with 25 to 200 plan members.
The new SecurePak bundle combines Canada Life’s pooled products with the claims processing capabilities of ClaimSecure. Its features include Administrative Services Only (ASO) health and dental coverage; out-of-country travel insurance; life insurance; accidental death and dismemberment insurance; and stop-loss insurance.
Plan sponsors may also opt for add-ons to the benefit plan, such as short term and long-term disability and optional life insurance; a healthcare spending account; coverage navigation services; ClaimSecure’s “Formulary Protect” which covers commonly prescribed drugs; and selecting a preferred provider network program (not available in Quebec).
"Through our acquisition of ClaimSecure, we knew we'd be able to collaborate and create an additional channel to provide products, plans and technology solutions, like SecurePak, to even more customers in Canada," said Canada Life group customer executive vice president Brad Fedorchuk. "We're excited to be able to combine ClaimSecure's innovative technology with Canada Life's high-quality pooled products.”
Fedorchuk added that, unlike other ASO offerings, SecurePak offers a comprehensive client experience with a single quote, a single application, and all at a competitive price.
Canada Life closed its acquisition of ClaimSecure in September 2021; at that time, the deal increased the number of Canada Life’s plan members by 1.25 million individuals – including plan members and their dependents – with annual claims payments of more than $1.2 billion.
