Plan Marketing & Negotiation

Plan Marketing 

Corporate Benefit Advisors, Inc. intensive marketing process, also known as a request for proposal (RFP) process, begins after establishing a strategic plan and quantifying your objectives and priorities. In the course of the marketing process, our team will:

  • Conduct a line-by-line evaluation of your current vendor renewals
  • Advise your vendors where their renewal analysis is inflated and what the final pricing should be
  • Develop detailed carrier/administration vendor RFPs
  • Act as your liaison/advocate through the RFP process
  • Ensure proposal responses are accurate and competitive
  • Evaluate carrier/vendor responses relative to:
    • Pricing
    • Rating/underwriting methodology
    • Plan of benefits
    • Provider access
    • Provider and facility discounts
    • Employee disruption
    • Implementation considerations
    • Performance and rate guarantees
    • Funding mechanisms
    • Communication/enrollment capabilities
    • Administration
    • Technology
    • Stability and solvency

Once this process is complete, they will present the market survey findings and prepare a comprehensive report that includes:

  • Current cost summaries
  • Alternative renewal proposal cost summaries
  • Plan of benefits comparisons
  • Employee/provider disruption analysis
  • Carrier/vendor financial ratings

At the end of the marketing process, they will present pricing and plan alternatives that are consistent with your objectives and provide the information you need to support your internal decision-making process.  

Negotiation with Vendors

Once carrier negotiations begin, the extensive underwriting, financial and analytical abilities of our staff enable us to identify opportunities and challenges that other brokers miss. Our expertise puts us at a distinct advantage when negotiating with carriers and vendors on your behalf. We have the ability to examine all the financial components driving a rate and to calculate the correct price. We then use our knowledge of underwriting methodologies to advocate the fair rate and to explain the proper risk assessment to the carrier. By placing logical and accurate business cases in front of the carriers, we are able to intelligently negotiate the best possible prices for you.