Benefits Procurement
At Avant, our procurement approach combines industry-leading expertise and technology to drive accurate, timely, and comprehensive marketing outcomes which, in turn, promotes benefit adequacy, market-driven competition, and fully informed decision making.
How Our Benefits Procurement Process Works
Our procurement practice delivers optimal results by merging expertise, transparent competition, and technology.
Our Expertise
Our Avant team is comprised of long, tenured ancillary insurance professionals from a wide array of backgrounds including brokerage firms, insurance carriers, and corporate HR departments.
Our team delivers collective expertise relative to ancillary insurance to include, but not limited to:
- plan design
- administration
- funding strategy
- plan performance and use
- market trends
- insurance carrier dynamics
Transparent Competition
Avant MarketSource (AMS) is our proprietary procurement platform used to develop, deliver, and conduct electronic RFPs for ancillary insurance programs.
We build RFPs on the platform with two main areas of focus.
- Design — We detail all plan design and benefit feature information on the platform.
- Data — We provide insurance carriers with a complete and thorough data set needed for the market to develop fully informed responses. We have the ability to solicit every major A-rated ancillary insurance carrier to respond to the RFP.
Unique to the Avant process is built-in reverse auction technology. This feature allows carriers to transparently bid against each other in real time resulting in enhanced competition and subsequent employer cost savings. Finalized marketing results detailing carrier rankings and activity are customized and delivered to our broker partners for ultimate customer review and carrier selection.
The Results
Upon project completion, we deliver the following to employers:
- Strategic and comprehensive ancillary program review and design
- Benefit adequacy to meet client commitments, needs, and expectations
- Cost savings and program value
For brokers and consultants, an Avant partnership provides turnkey solutions that deliver:
- Time, resource, and capacity savings
- Quality controlled RFP build and execution
- Enhanced capabilities to bolster sales activity