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Cliff's Insights Playbook # 6: Know Your Employer

You just received an RFP for a 500-life employer group. How will you quickly identify and seize this opportunity? Proactively identifying...

CM
Cliff Murch
Sep 23, 2024
SalesDistributionStrategy

Table of Contents

You just received an RFP for a 500-life employer group. How will you quickly identify and seize this opportunity? Proactively identifying and understanding your employer prospects is crucial for success in the group benefits market.

The RFP Scenario

When an RFP lands on your desk, time is of the essence. You need to quickly understand the employer's current situation, their needs, and how your solution can address their specific challenges.

The difference between winning and losing often comes down to how well you know the employer before the formal process begins.

Comprehensive Employer Research

To truly know your employer, gather these key insights:

  • Current benefits structure and coverage gaps
  • Employee demographics and risk profile
  • Industry trends and competitive landscape
  • Financial health and budget constraints
  • Decision-making process and key stakeholders

Opportunity Analysis

Use your research to identify specific opportunities:

  • Unmet needs in their current benefits package
  • Cost-saving opportunities through plan optimization
  • Risk management and compliance requirements
  • Employee retention and recruitment challenges

Strategic Approach

To successfully leverage employer knowledge:

Action Plan

Build a comprehensive database of employer information, develop targeted research processes, and create customized presentation strategies. The more you know about an employer before the RFP arrives, the better positioned you'll be to win their business.