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HR party of one is brought to you by

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Bernie portal when I say Insurance

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probably brings to mind health insurance

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that isn't wrong but your company's

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Insurance renewals Encompass much more

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than health care benefits Insurance

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renewals are also the various business

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qualifications or licenses needed to

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operate at Peak efficiency for example

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I'm prepping for our annual sock 2 audit

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which is a voluntary cyber security

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license for companies handling sensitive

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information some insurance renewals are

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voluntary and some aren't but regardless

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they can be a pain if you aren't careful

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one important renewal can slip through

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the cracks and can decimate your

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business's ability to function before we

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break out the campfire tals this HR

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party of one episode will cover the top

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ways to optimize how you complete

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Insurance renewals to begin organize and

Step 1: Organize & Audit Your Current Insurance Renewal Process

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audit your current Insurance renewal

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process this is a no-break ER but I like

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starting with the basics identify your

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current process and what it does what do

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you renew annually when I think about

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insurance renewals cyber security

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licensing Property and Casualty

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Insurance general liability and workers

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comp are some that come to mind what

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licenses or qualifications mandatory or

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voluntary does your organization need to

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renew on a regular basis needs May

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differ from industry to Industry and

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also between states or other localities

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do you need epli or employment practice

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liability insurance look into your

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compliance needs and create a list of

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annual renewals identify a better

Step 2: Identify a Better Timeline

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timeline think about the time of year

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each renewal occurs and how you go about

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it is the process spread out or Allin

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one month do you have calendar reminders

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does your vendor or broker reach out in

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advance I consider my annual

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responsibilities and input Insurance

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renewals during a slower season I never

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want to touch important renewal

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processes during q1 when I'm dealing

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with ACA compliance Q3 however isn't as

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intense I linked free interactive

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quarterly checklist for you in the

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description you can customize them for

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your org specific needs and find a good

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time of year to plan for insurance

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renewals so your full plate doesn't get

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Fuller in a busy quarter even if you've

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already completed some renewals at this

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time reach out to the vendors and tell

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them that you need a better system that

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happens within a set date range going

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forward and tell them don't ask them you

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can tell them politely of course but

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they want to keep your business more

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than they care about what day you sign a

Step 3: Don’t Be Afraid to Be Aggressive

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contract if they give push back well

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then it's time to critically evaluate

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Insurance vendors and Brokers think of

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your current vendors or Brokers that

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provide the licensing Etc you listed

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pretend you're leaving each of them a

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Google review for other HR folks

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shopping around on a scale of 1 to 10

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how would you rate them on their

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accessibility or support outside of

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communication channels communication

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their responsiveness and if they reach

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out to you with updates future thinking

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or the ability to plan ahead for your

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org's needs industry knowledge

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competitive pricing or if they are

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always seeking the best deal for you

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growth mindset or they act with the

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intention to grow your business

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transparency and Technology offerings

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like if your broker offers a benefits

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Administration platform Like Bernie

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portal that reports on low utilization

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so you can save on benefits there are

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other factors you need to your needs

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flesh out the mus have criteria and then

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rate on a scale of one to 10 as if

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you're recommending a service to friends

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or family compare each vendor's results

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with the first in-class winner who you

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believe is the best out of the bunch the

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10 out of 10 guy what do they do well

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that others are lacking your answer will

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show you how to prepare a battle plan

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for either negotiating better rates and

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service or finding a new person entirely

Step 4: Critically Evaluate Insurance Vendors and Brokers

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don't be afraid to be aggressive there

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are two kinds of people in the world the

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person who is too shy to remind the

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server that they ordered fries with

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their meal and the friend of that person

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who grabs the server's attention to

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remind them that they're owed aside of

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fries when you insist your buddy gets

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their fries you ensure they are given

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what their rightfully owed don't be

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afraid to demand a better price or

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service or refute an incorrect statement

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I must be ready to call my benefits

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broker and say hey this premium can't be

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right can you check these numbers I know

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more about my org than he does and when

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I go to bat for my employees everyone

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wins the business pays lower premiums as

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do the people I work with your cooworker

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ERS in business don't have a voice so

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you must be their voice if your

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insurance carrier for your work bands is

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Raising prices that could impact if your

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employees get a raise new equipment

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extra training and more so step into the

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insurance renewals arena with a smile be

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prepared to voice your discontent to

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provide strategic value to your orgs

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bottom line and ultimately employee

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well-being if someone isn't working

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along with you and seems against your

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goals then break out the corporate

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speech

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request multiple quotes from multiple

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insurance companies and ask how their

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pricing Compares after all you need to

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know your options the difficult vendors

Final Thoughts

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know that you have options they just

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hope you're too busy to switch or are

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happy enough to stick with them would

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you be okay with your buddy ordering a

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large fry and getting a small they'll be

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hungry out the extra money they pay and

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upset unless you do something about it

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remember your role is as strategic as

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you make make