Professional services company – combined data and benefit rectification

The challenge

The sponsor and Trustees were keen to transact and complete a buy-out of the scheme within 15 months to take advantage of favourable market conditions, alongside completing GMP equalisation. The scheme has thousands of members and a complex benefit structure, with multiple distinct benefit categories.

Our approach

We conducted a detailed data analysis and benefit audit, establishing a clear prioritised plan to make the scheme’s data transaction-ready.

The plan included incorporating elements of the remediation into the GMP equalisation process to deliver efficiently and to support the challenging timescales of the project.

Our outcome

Key deliverables included:

• Remediation of benefits and data cleanse for 4,500 members, and initial GMP equalisation calculations in the first 6 months
• Delivered transactable data within 9 months to enable the buy-in to be completed

Because of Isio’s experienced, transaction-focussed approach, the client achieved a complete set of insurance-ready data enabling a full buy-in, and on track to a buy-out within 15 months.