In this exclusive interview for Lonsdale Avenue Magazine, we sit down with Marcus Acaster, the visionary founder of Benefy Group Solutions. After spending a decade in the insurance industry, Marcus noticed a gap in the market for a service that blends comprehensive employee benefit solutions with a personal, relationship-focused approach. His insights lead to the creation of Benefy Group Solutions, a firm dedicated to redefining the way employee benefits are handled, with a special focus on the unique needs of the North Shore community.
Interview: Lonsdale Avenue Magazine: Can you tell us about yourself and the story behind the founding of Benefy Group Solutions? What inspired you to start this business?
Marcus Acaster: After nearly a decade in the industry, I saw that most independent employee benefit brokers had been purchased and amalgamated with large institutional insurance brokerages. These institutional insurance brokers focus on volume, cross-selling, and shareholder returns, rather than providing personable service, unbiased advice, and long-term relationships. We started Benefy to help businesses optimize their employee benefit programs without sacrificing the relationship-focused advice that ensures employees are well looked after even when their situations and needs evolve.
LAM: What are the primary services that Benefy Group Solutions offers to both individuals and businesses, and how do these services set your firm apart from others in the industry?
MA: Benefy works with incorporated individuals and small businesses to set up tax-effective health spending accounts (HSA) and employee benefit programs. Unlike many brokerages, we’re able to offer plans from all major insurers as well as a number of specialty insurers, but we take the time to get to know our clients and build long-lasting relationships. This approach helps us create employee benefit programs that grow and evolve with our client’s businesses.
LAM: How does Benefy Group Solutions cater to the specific needs of the North Shore community, and are there any local initiatives or partnerships you are involved in?
MA: At Benefy we firmly believe in giving back. In addition to volunteering in our community and supporting NPOs, we have also recently announced our Policy for Paws program. With this program, for every new Benefy client, we make a donation to the BC SPCA to help support our furry friends! Learn more about the program here.
LAM: How do you ensure a high level of client satisfaction and manage long-term relationships?
MA: We always strive to under-promise and over-deliver. Insurance companies are notoriously slow to respond to customer service issues, so we try to take a hands-on approach with client issues whenever possible.
LAM: What are some emerging trends in the benefits sector that you find exciting, and what future projects or goals does Benefy Group Solutions have?
MA: Like many industries, artificial intelligence is going to have a significant impact on the benefits sector. At Benefy, we embrace innovation and constantly look for new partners that can help bring innovation and efficiency to our clients.
LAM: What advice would you give to someone seeking guidance on group benefits, and what should they consider when choosing an advisor?
MA: As with many professional services, we always suggest working with someone you trust. At Benefy we are fully independent and always put our client’s interests first.
LAM: What motivates you personally as an advisor and business leader?
MA: I’m motivated by my drive to innovate and create long-term relationships with my clients and partners. The insurance industry can be very transactional, but we prefer to build meaningful relationships with our clients, so the work feels more fulfilling.
LAM: For someone interested in your services, what’s the best way to get started with Benefy Group Solutions?
MA: We try to make the barrier of entry extremely low to begin working with us. Our introductory meetings are an opportunity to learn about our clients and their businesses and identify goals and create a roadmap of how we can help.
Thank you for joining us for this enlightening conversation with Marcus Acaster of Benefy Group Solutions. His dedication to innovation and personalized service in the employee benefits sector is truly inspiring.
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