Numbers We're Proud Of
Solutions that Solve Problems
Property and Casualty
- Commercial P&C
- Specialty P&C
- Exclusive Programs
Benefits & Life
- Employee Benefits
- Executive Benefits
- International Benefits
- Human Capital Solutions
- Life Insurance
Wealth and Retirement
- Business Management
- Retirement Advisory
- Wealth Management
Integrating Diversity, Equity, Inclusion and Belonging into Everything We Do
Advancing a culture of belonging with employees, clients and communities starts with strategy, and continues with learning, acting, refining and moving forward with a belief that we are never done.
We aim to cultivate enterprise-wide systems and cultures of diversity, equity, inclusion and belonging that permeate every aspect of the business and empower all stakeholders — both internally and externally — to succeed.
Innovation drives evolution across every part of our business.
Fueled by unprecedented access to data, advancements in technology, and dynamic changes in customer demographics and expectations, this evolution impacts each industry we serve in a valuable, tangible way.
We believe innovation starts with inclusivity.
While technology brings innovation to life, true innovation brings value to our everyday lives by solving problems, enhancing convenience, reducing cost — by bringing diverse perspectives together, we’re able to solve problems with new solutions every day. Delivering this value requires a disciplined approach that:
Reimagines the way we interact with each other, our partners and our clients so we can be more successful together
Engages with employers to better understand their pain points
Reinforces our growth-focused culture by continuously improving structures for supporting employees and their efforts
Scouts and vets new ideas and solutions in insurance, finance, health and HR technology to keep ahead of market trends
NFP Venture
NFP Ventures targets insurtech, fintech and digital health companies that can benefit from NFP’s distribution, human capital and industry expertise seeking Seed to Series B investments to accelerate their growth.
As expectations for the future of work shift and advances occur in benefit distribution and data analytics, evolving consumer expectations have spurred innovation within the insurance industry at an unprecedented rate.
Our current portfolio spans multiple business lines, including corporate benefits, property and casualty, and individual solutions.
Benefits
Jim Sarych
Relationship Oversight
Rey Velasco
Lead Consultant & Strategic Direction
Mike Schulz
Lead Support & Project Management
Caitlyn Richey
Well-being Support
Benefits and Life
CRF RFP Q & A
Who are your preferred vendors? Or who do you know things about, GOOD and BAD.
Clear view of what IS and what is NOT included in pricing.
What would kickoff and next steps look like?
Can you provide more detail on SLAs as a broker?
What are the biggest misses in transitioning from PEO to broker with HRMS?
Based on the benefits info we shared, What are the top two opportunities CRF can address to save dollars while still delivering value and keeping engagement of staff intact? Example: Move 100% contributions from current plan to new offering . Introduce cost sharing for the current Cadillac plan.
If our implementation timeline shifts out a bit, what could CRF potentially do with current provider to manage costs more effectively related to benefits (until a new provider is in place)?
An Integrated Approach to Client Care
Compliance Resources
Benchmarking
Keeping your benefits program current and competitive is vital to achieving your business strategies. A nonexistent or flawed benchmarking process may lead to poor decisions and costly results.
NFP's 2023 Annual Benefits Trends Report
Comprehensive, Actionable Insights
Despite ongoing economic concerns and other cost-prohibitive obstacles, the need for delivering high-quality, personalized benefit offerings has never been greater. The NFP US Benefits Trend Report is designed to provide insights that help employers better align affordable benefits with employee wants and needs to ensure overall organizational success while fostering higher rates of satisfaction, productivity, well-being, and engagement.
Reporting
We offer our clients a comprehensive reporting package with a focus on actionable outcomes and dashboard/executive reports. Performance is measured versus normative benchmarks and prior year data. Trends, risks, gaps, etc. are identified through this process, and solutions are offered when appropriate.
We have regular meetings (quarterly, annually, and as needed) to discuss claims experience, exposure changes, and general administrative matters that affect overall plan performance. The level of detail included in each of these reports varies depending on the amount of claims experience available.
Well-being
At NFP we want to empower you to foster a culture of total health and well-being throughout your organization.
NFP believes that by transforming a wellness approach to a well-being strategy, your organization will sustain a healthier mental, emotional, financial, and physical state for your employees. We are committed to collaborating with your team to develop an engaging well-being strategy that aligns with your goals, promotes employee participation, and delivers results. Not all organizations will utilize the same approach, as one size does not fill all when it comes to a Wellbeing program. Below is a summary of the three approaches to Wellbeing:
Wellness to Wellbeing
Employee Experience
Employer Experience
For the first time, employers can compare and contrast negotiated pricing across the universal healthcare landscape. NFP’s TPNet tool can benchmark providers, facilities and carriers/payers to compare your healthcare offering against the best-negotiated plans in the country.
Outside of NFP, few in the market have built a functional tool for employers to compare and contrast these new transparency costs against actual claims data paid by the carrier/payer to the hospitals and other providers. By independently validating the data for medical procedures against a comprehensive competitor database, NFP is ahead of the market. Although carriers/payers are posting their negotiated rates across all providers for the medical services they cover, the petabytes of data they’re releasing are too staggering to be useful. They must be normalized and clinically mapped into an intuitive and easy-to-read format; something employers can easily understand and make actionable.
Human Captial Solutions
Overview of Services
International Consulting
Life Insurance Differentiators
Property & Casualty
Property Solutions Analysis
Claims Management Processes
We are an advocate for our clients through our interaction with insurance adjusters, attorneys, appraisers, contractors and surveyors in the handling and servicing of claims. We consistently deliver prompt, fair and reasonable resolutions so that your business avoids financial burdens or experiences unnecessary delays.
Claims Management Services
By joining with us, you can rest assured that our dedicated team will professionally manage claims using our unique methodology while providing quality support and guidance when dealing with third parties. Our consultancy on Workers’ Compensation includes demonstrating to our clients both how to remain compliant and how to institute programs that further the development of current plans.
Loss Control Services
We collaborate with several top risk services companies who provide professional loss control services. We find this approach cost-effective and more customized for our clients. Learning about your business, using a network of hundreds of safety engineers across the country, provides for a more focused, need-based approach. Some of the available services include:
Management Liability
Benchmarking
Timely Benchmarking
NFP provides a timely benchmarking analysis to ensure your company is aware of how your various programs compare to your peers.
Meaningful Database
This unbiased benchmarking data is a meaningful database comprised of information reported by over 40 different brokerages.
Benchmarking Analysis
This independent benchmarking analysis highlights whether we are attaining program optimization based on limits, retention, and pricing, or where we see the need for improvements in the insurance placement.
Risk Management Services
Total Cost of Risk
The Risk Management Analysis and Insurance Audit Process is an exclusive professional service provided by NFP P&C. To fully understand your business and the exposures posing potential harm to your assets, it is vital that the insurance professional you choose fully grasps your organization’s liabilities.
Our team of experts will execute a comprehensive analysis to build upon your current architecture. Our multi-step auditing process greatly improves upon the standard insurance model, stemming from our close attention to detail and our experience with pinpointing effective, cost-saving measures. Our successful exposure identification and practical strategy implementation methods result in superior protection for our clients and their businesses.
Exclusive Approach
Our Risk Management team reviews every aspect of your operation to identify factors and plan solutions to mitigate risks that could seriously damage your company and its reputation. Your commitment consists of providing access to key individuals and documents needed to perform a proper evaluation. Our commitment consists of conducting interviews, site inspections, document analysis, report preparation, implementation strategy and monitoring.
Specialties
Specialized expertise across industry, product and program.
Value Proposition
Our firm delivers an in-depth analysis of your business, provides sound risk management advice and mutually develops/monitors a plan that fits your risk management philosophy. Our partnership with you comprises a four-step process:
Research
• Identifying workers’ compensation experience modification trends
• Reviewing leases and other contracts from an insurance perspective
• Reviewing additional insured status compliance inclusive of policies and endorsements
Assessment
• Evaluating the effectiveness of your current insurance program
• Analyzing exposures to loss to determine risks that should be eliminated, reduced, insured or self-insured
• Exploring possible alternatives, such as deductibles, retrospective rating, self-insurance and other methods of improving cash flow
• Evaluating the effectiveness of the current loss control program
• Assessing payroll classification
Consultancy & Service
• Assisting with cash flow management
• Promoting peace of mind through regular review sessions
• Providing a planning and decision-making tool to assist management’s due diligence
• Helping to establish a formal risk management policy
• Aiding in complying with directors’ due diligence responsibilities as well as the CPA audit of the insurance program
Management
• Reducing cost of risk
• Quantifying merger or acquisition exposures
• Evolving your risk management program as your business expands
• Providing a comprehensive overview to your newly-appointed manager of insurance
• Controlling exposures related to discontinued products or services
Wealth and Retirement
Proactive Service Plan
First Year Gap Analysis
Know What to Expect
Work Off Your Plate - work between committee meetings
Fiduciary Compliance
Fiduciary Support Snapshot
Fiduciary Education Modules
Documentation
Compliance Calendar
Investment Analysis
Investment Analysis Snapshot
Investment Committee
Scorecard System
Exclusive Investment Fee Negotiation
Lower Fee - Collective Investment Trusts (CITs)
Target Date Fund Consulting
DOL Guidance on Target Date Funds
Differences Among Off-the-Shelf TDF Glidepaths
Innovation – Solving for Participant Misfit Risk
Solve for this risk by offering multiple risk-based glidepaths, allowing participants to choose their own path to retirement based on their personal needs and preferences.
Plan Risk Profile
Defined Benefit Consulting Services
Process
Discretionary 3(38) Investment Services
Dynamic Asset Allocation
Sample Investment Policy Guidelines
•Constraints around the policy mix allow for some flexibility along the funding glidepath while minimizing risk relative to the liability.
Asset/Liability Study Reports
De-Risking and Plan Shrinking Options
Summary of Defined Benefit Services
Investment advice – IPS construction, dynamic asset allocation and investment manager due diligence
3(38) services – Outsourced investment management following the Investment Policy Statement and dynamic asset allocation approach
Legal resources – Access to ERISA specialists
Lump sum/Annuity cost benefit analysis – Understand associated costs and savings as well as implications for funded status
Regulatory updates and education – Stay up to date on the latest regulatory changes
Provider benchmarking – Ensures clients receive competitive provider pricing and services
Fee Benchmarking
Factors that Impact Pricing
We maximize your negotiation leverage by looking at all the details of your plan and service contract
Provide Analysis Process
Disciplined, measured and results oriented.
Benefit Equalization & Restoration
Addressing the unintended shortfalls of group benefit & retirement programs
Whether by plan design, or by way of regulatory limitations, group benefit plans can cause unintended reverse discrimination against highly compensated employees. The regulatory limits on qualified retirement plans, and plan design caps on group disability and life insurance programs create shortfalls that decrease the effectiveness of these valuable programs.
Retirement Completion
Addressing the costs of delayed retirement
Regulatory rules restrict the amount of that can be contributed to tax-deferred plans, like a 401(k). A common rule of thumb is that retirees will need 70-80% of their final income to maintain their standard of living during retirement. Highly compensated employees may only be able to replace 30-50% of their salary — creating a Retirement Income Gap. Executive benefit solutions allow you to bridge the gap, giving you an essential recruiting and retention advantage.
The Cost of Replacing Key Employees
Build programs to creatively attract and retain top level talent.
Why We’re Different
We have a singular focus: to build a competitive executive benefit package for your key people.
Nonqualified programs cater to the needs of an organization’s key employees. The administration platform of such a program should not be a “on-size-fits-all” solution. The robust capabilities and potential flexibility of nonqualified plans require a team and a platform completely dedicated to the unique needs of an organization’s highly compensated employees. In acknowledgement of these requirements, we designed and maintain our own proprietary solution to provide the level of service that a nonqualified program deserves.
Our clients benefit from our strategic solutions, delivered through one-on-one support and a full-service business model that sets us apart from our segmented and non-independent competition: Advise, Implement, Service.
Number We're Proud Of
Long Term Care Programs
Long-term care insurance protects an individual’s savings so when the need for long term care arises, they aren’t paying for it out of their personal savings. Studies show that 70% of Americans age 65 or older will need some type of long-term care during their lives. By offering long-term care to your employees, you can fill the gap in your benefits portfolio, making it easier to attract and retain talent.
Supplemental Life Insurance
Company-wide group life plans provide adequate coverage for the majority of an employee base. Group plan caps and maximums can hinder the amount of protection provided to highly compensated employees, creating a coverage shortfall. Increasing group plan maximums to alleviate shortfalls is expensive. Supplemental Life Insurance programs are affordable options that specifically target employees effected by group plan shortfalls.
Nonqualified Retention Program
A Nonqualified Deferred Compensation (NQDC) plan structured with employer contributions is commonly referred to as a Supplemental Executive Retention Program (SERP). This is a flexible corporate sponsored solution that provides an opportunity for the employer to make discretionary contributions to recruit, reward, and retain a targeted group of key employees.
Nonqualified Supplemental Retirement Program
Nonqualified Deferred Compensation (NQDC) plans are a flexible corporate sponsored solution that provides an opportunity for key executives to accumulate additional assets for future financial needs. Through this program, participants can voluntarily elect to defer a portion of their compensation on a pre-tax basis, in excess of qualified plan limitations.
After-Tax Savings Programs
With an after-tax bonus program, the company uses tax-deductible compensation bonuses to assist the executives in saving for their own personal financial and retirement goals. The company pays the premiums on a specially designed, employee-owned life insurance policy and treats the premium amount as a compensation bonus to the executive. If properly structured, the death benefits and tax-advantaged cash value accumulation within the policy can help provide survivor income, estate liquidity, retirement income, or educational funding. Additionally, long-term care coverage may be incorporated into the program to offset costs associated with long-term care needs.
WellCentsPLUS
WellCentsPLUS is a comprehensive financial planning offering specifically designed for executives with complex financial lives. Like having a personal CFO, this solution provides your executive team members with proactive advice on important planning considerations, a second set of eyes across all aspects of their financial lives, and a customized, dynamic plan that evolves with all of life’s changes.
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