Are You Paying too Much for Group Benefits?
Though an RFP process is a critical tool for evaluating and selecting the right insurance carrier, it can also be complex, time consuming and overwhelming.
Our transparent online auction simplifies the purchasing of group employee benefits and is more efficient, accurate and non-disruptive to HR and your employees than a typical RFP process.
Key features of the online reverse auction:
- Streamline the purchasing process by inviting a select group of carriers (up to 20) to participate in a live, online secondary pricing phase over a 48-hour period.
- Create a competitive, transparent bidding environment where carriers can revise plan design and price for each coverage while your team monitors the process until bidding is closed.
- Evaluate and interview finalists based on product offerings, benefit features, customer service, disability claims management, reporting, cost and more.
- Empower your company to achieve rate reductions, enhanced provisions and longer rate guarantees.
- Reduce HR impact with an auction process that typically takes less than 2 hours of their time and results in no carrier change 30% of the time.
- Available for Group Life, Group AD&D, Short Term Disability, Long Term Disability and Optional Life.