The benefits of group risk products are not widely recognised by HR professionals, Canada Life Group Insurance has suggested.
Over a quarter (27%) of those surveyed know little about group income protection, 18% know little about the typically more straightforward group life assurance; 32% were unsure of the cost or value of the propositions to their organisation.
The insurer said growing awareness of Group Risk in the business community is a goal which could benefit both employers, and employees.
Paul Avis, marketing director at Canada Life Group Insurance, said: "Group Risk in the 21st century is a collaborative benefit which protects employees, employers and insurers.
"However, there is a wide gap between what employers think group risk should do, what they think it does in reality and the way the modern market actually operates.
"There is a concern that Group Income Protection may encourage employees to abuse a system provided for their benefit. An assessment carried out by an insurer before paying a claim would be far more in-depth than the employer would be likely to implement themselves without any specialist support, however.
"Improved education on group risk benefits among HR professionals will ensure organisations do not miss out on the opportunity to show their employees they are valued and cared for."
