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Case Study

 
Large Regional Brokerage

"BCC provided incredibly helpful administrative solutions for my client. They alleviated the stress of managing eligibility and receiving multiple bills from carriers with their effective consolidated billing services. My client was extremely satisfied." - Broker Executive
Agency Profile

$50 to $100 million annual revenues
Employee benefits/property & casualty agency
Single location/multiple city & state reach
6 - 12 producers
Agency Environment

In-house FSA administration, 120 - 150 groups/5 - 8,000 lives
Homegrown system, small margins
Multi-vendor COBRA administration
Fragmented use of online solutions, no agency strategy
Competition from local, regional and national broker/consulting firms
Target market: Mid-size to Large ER's (50-3,000 lives), Specialty association plans
The BCC Solution

Results Include:
Strategic Marketing & Training Plan
BCC created collaborative team that includes the Sales Executive, National Account Executive, Client Services Representative and Implementation Specialist to deliver a seamless marketing and training strategy that fits the agency culture.
Efficient Transition of In-House FSA Administration
Implemented plan to shift existing clients to BCC administration over six-month period. Complete process support from collateral materials to on-site meetings eliminated many headaches for the agency.
BCC Customer Service Personnel On-Site
Placing a skilled and knowledgeable professional in the agency's office resulted in a remarkable customer service experience, unparalleled by the competition.
Increased Renewal Opportunities
In addition to transitioning the FSA block of business, BCC migrated the agency's COBRA groups at renewal. Timing this move at renewal opened the door for new sales opportunities, such as offering Consolidated Billing, Web Solutions or Specialty Administrative Services like HRA and others.
Carrier Connectivity
Installed eligibility and premium connectivity with preferred medical carriers so that data flowed quickly and efficiently, also creating significant soft-dollar savings for HR.
Unique "Private-Label" Product Option
Innovated a "private-label" product for employer groups of 50-300 employee lives that included carrier production commitment:

Preferred Carriers: Medical, Dental, Vision, Non-Contributory/ Contributory Life, LTD
Paper, BenXcel Suite options
COBRA, FSA Administration
Consolidated Billing
Preferred Carriers: Medical, Dental, Vision, Non-Contributory/ Contributory Life, LTD
Agency Benefits

Differentiation - created an Agency Technology/Service Strategy

Increase Sales Opportunities - offering more solutions and product at renewal, tandem selling; Sponsor Carrier pricing; created ?private label? product

Retention - offering more services to achieve ER entanglement

Increased Customer Service Capabilities - improved EE access through self-serve tools

Profitability - Outsourcing FSA, COBRA improved margins, enhanced systems offered to clients, compliance protection
   
 
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