Process

Lockton is your day-to-day partner for the long-haul because implementing an effective benefits strategy is an ongoing process, not an annual event.

We provide you with comprehensive, customized service and advice including:

1. Analysis: Goal setting, needs assessment
2. Strategic Planning: 3-5 year strategy
3. Tactical Management: 12 month plan fitting the strategy
4. Implementation: enrollment, employee education, ongoing support
5. Renewal Planning: plan performance analysis, trend review, design-update

Below is an in-depth look at each phase of the process that we will implement along with your staff and employees:

Phase 1: Analysis

The process starts with a complete look at where your company has been, where it is today and where it wants to go tomorrow. Our experts will analyze claims data from your existing carriers along with industry performance data from other companies in your industry. While we assemble this data we will be asking about your corporate goals, expectations and budget requirements. We’ll conduct employee surveys and analyze your demographics. From financial objectives to employee perceptions, we want to understand every aspect of your business where benefits are involved.

Phase 2: Strategic Planning

After taking a hard look at your past performance, present situation and future objectives, we will create a 3- to 5-year forward-looking strategic benefit plan. We will share our industry trend projections with you and discuss how to best prepare today for changes that will affect your plans in the future.

Phase 3: Tactical Management

Using the long-term strategy as a guiding road map, we now integrate plan components drawn from experience with our national network of carriers and service providers into a comprehensive plan designed to meet your employee needs and operational budget. The plan design will reflect your anticipated growth and potential changes in your competitive landscape. This highly-customized plan will consist of the most innovative services available today with a constant eye on where we see these services and your company evolving in the future.

Phase 4: Implementation

The plan we design for you includes an integrated suite of services and a comprehensive timeline that ensures that the rollout is smooth for your HR team and employees. Your Benefits team will make sure your employees are informed about any changes or choices they will face. We’ll assist with initial enrollments and make sure that ongoing claims are being handled efficiently. Your Benefits team will be right there with you to answer any questions that come up during the transition and throughout the year.

Phase 5: Renewal Planning

Well before the year runs out and it is time to renew or modify your benefit plan, your Benefits team will begin assembling claims data from your carriers and comparing your plan performance to certain industry benchmarks. This is where the process begins again.

Your Full Time Partner

As you can see, we expect to be more than a vendor. We want to be a corporate partner that shares in your challenges and is a part of your success.

Success Stories:
	Retailer Achieves Savings Goal Through Renegotiation Lockton Benefits was appointed broker for a firm that employees 7,000 people just two and half months prior to their January 2008 renewal date. The employer, one of the nations largest tool and equipment catalog retailers, owns more than 315 stores nationwide. Lockton needed to market, negotiate renewals, provide superior communication for open enrollment in December and save the client 10% of projected costs in 2007. By leveraging Lockton’s position with the incumbent carrier, Lockton renegotiated and restructured the financial agreement with the current carrier. This allowed the company to reach their savings goal on time. The renegotiated agreement earned the retailer a net savings of $900,000 for 2007. The new agreement is in place for 2008, with projections of similar savings.