Issue
The client approached CBIZ seeking solutions to strengthen employee retention, particularly amid high turnover among top talent and executives. Their C-suite was under immense pressure, making it difficult to retain talent at this level. During our assessment, we also discovered that C-suite executives were severely underinsured for short-term and long-term disability coverage.
Solution
We implemented guaranteed issue individual disability insurance (IDI) to provide expanded income protection in the event of a covered disability through The Insurance Partners, a wholesale resource for executive benefit solutions. To strengthen coverage, we introduced multiple tiers of IDI to ensure C-suite executives were adequately covered and satisfied with their benefits.
Outcome
The implementation of IDI exceeded expectations and resulted in high client satisfaction, as they had not previously been presented with this benefit. The added IDI offerings also enhanced the C-suite’s perception of their benefits plan, creating the opportunity for increased executive retention.
| Company Information | |
|---|---|
| Industry | Financial Services |
| Geographic Footprint | Dallas, Texas |
| Number of Employees | 40 |
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