Today's business world is complex and companies no longer fit as easily into the traditional insurance "box" that was once a viable option. On a similar note, not all PEOs are created equal- certain PEOs are more competitive in various niches than others.
Our unique process combines the best of traditional insurance agency and PEO offerings to deliver customized, cost-efficient, and scalable solutions to meet the complex needs of our clients. In addition to being PEO brokers, we are licensed insurance brokers which allows us to mix and match traditional insurance with PEO and truly advise our clients.
For Example, many of our clients utilize a PEO for their HR, payroll, and employee benefits needs but have their workers comp coverage carved out and placed with a carrier in the standard market. If in the future, the PEO no longer offers competitive employee benefits to our client, we will carve this piece out as well and place coverage with a major medical carrier. In this way, we are able to customize solutions for our clients as their business needs evolve.
Our agnostic approach
Interview with business owner/ company executive to understand strategic, operational, financial and growth objectives of the company. Discuss current and future challenges and obstacles facing the organization.
Gather required data to understand current human resources payroll and insurance coverages including workers compensation and employee benefits for underwriting and costs associated. Review data and determine submission strategy.
Submit opportunity to respective PEO partners and insurance markets for pricing and terms.
Present proposal with best solutions and iPEO recommendations.
After coverage is bound with PEO and/or Insurance carrier, iPEO continues to monitor and keep touch with the business owner to make sure expectations are fulfilled.
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PEO vs Insurance
Traditionally, business owners rely on their insurance agent to find them the best workers comp and employee benefits plans. Insurance agencies represent a wide variety of customers whose businesses are all very different. Insurance agents pair a business with a carrier.
PEOs absorb businesses into their master health plan and master workers comp policy. This allows small to mid-size companies to achieve better pricing through economies of scale, as well as access the wealth of administration and support services offered.
Naturally, insurance agencies and PEOs view each other as competitors for workers comp and employee benefits.
Because of this, insurance agents and PEO reps compromise their client's best interests by serving their own agendas. Insurance agents often take a reactive approach when having a PEO conversation with their clients.