Annual Marketing

Annual Marketing, Vendor & Financial Analysis

A key asset to your benefit plan is your broker’s relationship with the top vendors in the market. We continually assess the market and participate in our vendor’s advisory boards. Vital industry measures include cost-containment tools, medical inflation (trend), and best practices. You are ensured that Hammitt Benefits Group brings you the best value by skillfully negotiating your benefit program, using our years of experience and effective underwriting analysis.

Negotiating the most cost-effective rates for our clients is clearly one of the most important aspects of our service model. To find the most cost-effective rates for our clients, we implement a variety of methods:

  1. Examining monthly claims data.
  2. Analyzing the carrier’s renewal underwriting formula.
  3. Analyzing competitive proposals including rate calculations, administrative fees, trend, pooling costs, reserve adjustments, capitation expenses, and retention factors.
  4. Finalizing the renewal process with aggressive rate negotiations and vendor selection.