Insurance Business What’s behind the Medavie Co-operators deal?

What’s behind the Medavie Co-operators deal? The Co-operators has entered a joint venture with Medavie Blue Cross to offer group health coverage in Quebec, and Medavie’s president Eric Laberge said the two companies have a similar vision for their relationship with brokers.

“We’ll see a seamless transition for clients from Co-operators which is important from the broker’s side,” Laberge said. “When we had the discussion with Co-operators we saw that we had the same vision for clients, service, employees, the community. We shared common values - which is quite important.”

No changes are expected to policies or offerings other than Co-operators’ customers gaining access to Medavie in Quebec.

“We already serve plan members and clients across the country through the Canadian Association of Blue Cross Plans, so really this transition is to administer Co-operators new clients in Quebec,” Laberge said.

“The long term focus on partnership, the high engagement of our employees is something that’s important to both The Co-operators and Medavie.”

Though Laberge said he’d observed increased synergy between P&C and group benefits programs, this venture wasn’t an example of one.

“On the distributors’ side of things with brokers or consultants, there’s more and more discussion about partnership between group insurance consultants and P&C advisors,” he explained. “I know some transactions have occurred in the last two years, whether it’s a merger or partnership benefits client. But this joint venture with Co-operators isn’t linked to that.”

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