Read More

The Importance Of Building Strong Carrier Relationships

As a Financial Analyst, I am responsible for putting together client presentations that provide the best pricing and coverage from various insurance carriers for our client’s current insurance plans.

Over the last 9 years, I have formed great relationships with these carriers, which has given us the ability to negotiate and strategize the best possible plans and rates we can for our clients. On a daily basis, I work with representatives from carriers on behalf of our clients updating medical, dental, life and disability policies, reporting packages, and evaluating how we can provide our clients with the best and most cost-effective coverage for their employees.

In order for me to excel in my role, the carrier relationship is extremely important. The renewal process can be daunting, from requesting alternative plan designs, rate changes and rate guarantees having an established relationship with these carriers has made the process not only easier and more efficient, but I am able to negotiate and provide the most competitive plans and rates so our client’s employees see minimal cost impact for the upcoming year. I have been able to guarantee rates for longer than one year in some instances, which helped the client project long-term when evaluating their bottom line.

Recently, I had a client who had a great long-standing relationship with the current carrier. We were given a very competitive quote from a competitor, providing savings from their current carrier’s rates. Through our relationship with the client’s existing carrier, we were able to negotiate down the offer that resulted in a successful renewal and satisfied customers all around. It was evident that our client had a great experience with their current carrier, and we were pleased to be able to negotiate the offer so that they could continue to foster that relationship.

At the end of the day, having a strong connection with the insurance carrier reps we depend on makes my job a little easier. I take pride in the relationships I have knowing I am able to help our clients receive the best benefits possible at the lowest cost, and knowing employees and their families feel less of an impact of the rising healthcare costs.

Share

Top