Employee Benefits

Perception

Myth:  The employee benefit business has this perception that product rates are standard and uniform and brokers can do little to influence the market. This is absolutely false and PenBen has proven this numerous times.

Truth:   Good brokers produce better rates and renewals; inexperienced or poor brokers drive rates higher and produce spiraling renewals. An experienced broker with a thought-out strategy can drive the market to the benefit of both employer and competitors. Conversely a poor broker can undermine the process if they are not skilled or work in their own best interests rather than those of the employer.

Process

Our professionals take the time to carefully craft both the benefit plan design and the marketplace.

Your PenBen primary service team is very knowledgeable of new products and strategies. Even though the team interacts with client management on a regular basis during the year, they do not make assumptions when starting the renewal process. We take the time to analyze plan performance data, review and meet with client personnel before making plan design recommendations.

Our approach to the marketplace is planned and reviewed by all team members down to the smallest detail. Our Request for Proposals are carefully crafted and disclosure and timing precisely executed. Our process is driven to secure the best possible financial quotes and terms, not just to check the market.

Execution

Every process requires a clear and concise execution. After defining our process we begin implementation by setting a time line and creating a work flow chart. This provides you the client the opportunity to make timely and accurate decisions.

Once an agreed upon time line is created the work can begin. We find that a work plan insures timely renewals and provides the best experience for you the employer as well as employees.