Specifications include, but are not limited to: The Little Rock Advertising & Promotion Commission dba Little Rock Convention & Visitors Bureau (“LRCVB”) is seeking an experienced consultant/firm to provide consulting services regarding employee benefits plan and professional insurance brokerage for insurances related to employee benefits. Prepare an Annual Stewardship Report, including complete accounting of fees and/or commission earned on the account, observations on relevant changes in the insurance market, view on loss exposures facing LRCVB, loss control activities and insurance policy summaries. Solicit and negotiate plan proposals and competitive rate quotes from existing and alternate insurance carriers for annual renewals by deadline agreed upon by LRCVB and the selected Broker o Prepare all necessary bid specifications to insurers o Issue bids o Evaluate bids o Coverage and premium analysis o Recommendation of carrier Provide analysis and recommendations for both cost saving and benefit enhancement options, to include scope of plan design changes, impact on plan cost, value added services, retiree coverage, etc. Assist in the coordination and facilitation of the annual open enrollment benefits meetings for all employees, including preparation and presentation of annual benefits plan status report. Maintain an active and ongoing relationship with the service providers/insurance carriers to ensure smooth operation and delivery of benefits as well as facilitating prompt review and resolution of plan and claims administration issues. Provide plan design and financial management performance updates throughout the plan year including renewal figures during the budget process. Assist with development and design of year-round informational materials, employee meetings, Annual Health Fair, etc. to maximize employees’ knowledge and understanding of how to be the best consumer of the employee benefits plan.
