When employees request a new type of benefit or if the service of a carrier becomes substandard and needs replacing, employers have to find new providers. This presents opportunities for upgrades, but doing so entails a great deal of work and may be more difficult that companies expect. One of the most detailed and time-consuming efforts comes in the form of requests for proposals (RFPs).
An RFP must be sent to carriers and providers when an organization wishes to consider receiving a benefit or insurance coverage from them. It essentially asks what the pricing, billing procedures, reporting procedures, customer service options and performance standards will be like with that particular company. These variables, in addition to requiring a great deal of technical knowledge, may not make sense to an employer who isn't well versed in their terms and definitions.
That is why the services of a employee benefit specialist are so often desperately needed. Such a professional can write an RFP efficiently after quickly narrowing down the list of potential vendors to a more manageable number. She can next understand the terms of the proposals and explain them to an employer, who can make an informed decision and will be able to provide top-notch benefits to a deserving workforce.
