Name: BrokerConnect Virtual
Uploaded: 2026-04-16T19:10:13.624Z
Duration: 17 min 40 s
Description: BrokerConnect Virtual

Transcript for "BrokerConnect Virtual": Thank you for joining us today for this virtual broker connect session, where we will take a look at how TriNet is continuing to support brokers through recent updates and evolving initiatives. The focus today is on making it easier to work more efficiently and better support clients in the moments that matter. Let's jump in and welcome Ben Codi, divisional vice president of broker sales at TriNet. Good afternoon, everybody. My name is Ben Codi. I'm the divisional vice president of national broker sales at TriNet. Today, we have a few interesting announcements, some improvements, some developments that I think you'll all be interested in. We're gonna keep this short and sweet today. We like to send this out. There's a lot of folks because of busy schedules who can't attend, so we'll be sending this video out to both you and everybody that registered that can't actually be here today with us live. So we'll keep it short. We may get to questions. We may not. But if we don't get to questions, anything you do put in the chat, we will respond to you individually. And then for the benefit of the community, we'll let everybody know what the question was and what the, response is. So before I get into the content, I want to talk about an observation and what I've been witnessing for the past five or six years and even before when I got into this business and most recently the past year and a half. So I've been in the business now nineteen years, got into the business in 2007 and it's been such an interesting development when it comes to brokers and PEOs from enemies to frenemies to friends to very intimate friends, maybe even lovers now at some point because there's so much collaboration. And in the past year and a half, I've seen even a greater acceleration, like an accelerant has been thrown on the PEO and broker community and seen this exponential growth. And what that looks like in the market from my lens is you see more and more brokers working with PEOs. You see agencies that are setting up, PO practice leaders creating there's p and l's around PO now. There's regional distribution. You see in general agencies that never worked with, PEOs before that are asking for agreements. And you're seeing retail brokers, like a lot of you in the call, and there's some PO brokers, but retail agents becoming PO brokers to capitalize on the momentum. So you're seeing all this wonderful development. Now despite all this growth, there's two misconceptions I'll just address today, and then we're gonna get into the content. One leads into the content. And the first misconception is that this is a PEO deal and that isn't. And any deal is a PEO deal, folks. I think we all know that in here. Right? It doesn't matter how many employees, five, ten, a 100. Doesn't matter what industry. It doesn't matter what location. If you think it's a p o deal it is and if you don't think you want it is it's one it isn't. The prospect, the client trusts you and if you think it's a fit, it's gonna be a fit. Plain and simple. The second misconception is it's all about the medical. And the medical obviously is one of the biggest pillars within the PO. There's tons of stuff the PO does. And it's it's very important. Right? Because you don't wanna pay more for the commodity. But what we're gonna talk about today and we use like the line Wayne Gretzky's famous quote, I skate to why he's so successful. I skate to where the puck is going not to where it's been. What I'm gonna talk about today is where we're investing we're skating, we're investing in where the market is going. Now medical is important and you're gonna see massive variation. You're gonna see people buying business. You're gonna see competitive quotes, non competitive quotes. There's a lot of turbulence in the market right now. And we wanna get that right because you have to get it right. Right? But where we're investing all our money is in all the developments because that is ultimately what keeps clients with the PEO. So with that, we're gonna get into the first, I'm gonna get into the first slide with the content, and we'll take it from there. So the first thing I wanna talk about today is our some of our new products. So I'm not gonna focus on IT. You can see that it's gonna be part of the deliverable afterwards. You can read all about it, but I'm just gonna focus on TriNet Global and TriNet Assistant today. So what is TriNet Global? TriNet Global is a partnership that we have with Multiplier, but not only is it just a partnership, it's now embedded in the TriNet experience. And what that allows your clients to do, our shared clients to do is hire global talent in a 150 plus countries and a 120 plus currencies easily. Hire them easily. Offer them easily. I was looking at it. My nine year old daughter that's in third grade could do this. It is a piece of cake. I could do it. It is intense, to say the least, to make hires outside the country. You gotta figure out laws, interaction with our laws, the currency rate, everything that has to go along with it. It's right in the portal. It's a piece of cake and more and more companies are hiring internationally every single day. The other thing I wanna talk about is TriNet assistant. And what TriNet assistant is, I want you to think of like a walled garden, and I wanted you to think of a digital helper. And what TriNet assistant is, it's taking all the regulation that exists and then within the TriNet ecosystem of everything that a company from an administrative point of view has to do to operate the company, to what employees need to know, to what employees is relevant to them for all the benefits that they have. It is somebody that you can call. It's like, what do I want as an employee or administrator? I wanna call somebody and have them pick up the phone every single time right away. I don't wanna wait a second. That's what that is. I can have a dialogue. It's for a conversation, multi step, get information, double back. What this TriNet assistant does is it has memory of the conversation so you're not starting over. Like, if you ever went on chat g b t and then you're amazed that it can remember what you said, like, five hours ago, that type of thing. So it has retention memory. It can do multi step. It can execute tasks for you. It can help you think through certain processes. It can ask you can ask it any question about your benefit. And if it gets to a point where it can't do it, it goes to a live agent. Phenomenal technology. Again, this is all about how we are investing and skating to where the puck is going. So next thing I wanna talk about is our broker connect dashboard. So a partner connect dashboard. So everybody wants knowledge. You all want knowledge about your groups, about your clients, about renewals, and we give that to you. And we're getting better at that all the time. I'm gonna talk more about the renewal specifically later. But what this allows you to do is log in whenever you want to and you have visibility. So what do you have visibility into? First, you get all your clients. You have a full list of every single client you have. What is their plan year? When is their benefit funding period? How many folks are enrolled? What plans do they have? What's the participation rate? What's the class structure, the funding? See it all right there. You can see your upcoming renewals. You can log into that. What was last year's rate? What's the renewal rate? What's the lines of coverage? How's the funding structure now? You can work with your, the the your the decision maker to help them, execute a new funding strategy, commit to the same one. All of that is there. You can see the new the business that you submitted into the pipeline. You're like, alright. I want this quote. Where's the quote? I'm working with my sales consultant, my broker relation manager. You can see, wait. We're pending a workers' contact page. I needed to finalize it. I already got the medical. I need this. You can see that. You can see list of all the deals you won, you lost, and you can connect. You can see the email addresses of the people tied to your account. So you have visibility to who's servicing your account. Again, phenomenal technology, putting the tools in your hands so that you can act autonomously. You don't always have to call, but you can. So next thing is the large client benefit bundle. So what we have here for groups and we're getting more and more groups from everybody on this call, brokers in general with 250 more employees. And these are the groups that, you know, with participation rates, obviously, have a 100 or more on benefits. And they have more options open then to them. So what we're doing is we create a large client benefit bundle. So what does that mean? It means that usually if you come to TriNet, you have a it's a list of all the plans and that list gets pushed out to all the employees. Not too creative in some respects. It's good because there's optionality. But what you want is you want to curate it. You want decisioning in that. So it can create a curated bundle. One plan, six plans, 12 plans, doesn't matter. Can create a curated, plan bundle. The pricing may fluctuate based upon risks or election bias, but it gives you more control to work with your prospecting client, hopefully our shared prospecting client on creating these bundles for clients, which could be more attractive to the groups that have 250 or more employees. So the broker elite program, this is a in addition to the compensation that we pay you for the deals that you send us, this is an extra benefit that is assessed at the end of the year. So this period always will run February 1 to January 31 of the following year. So we're in a cycle right now. So what do we do? We're thinking like in some respects like a carrier. We wanna pay you for growth, and we wanna pay you for persistency. We want you to grow the book and keep the book with us. So from a growth perspective, if you start the year on February 1 with between 250 employees on the books with us and a thousand, if you get 15% growth and two new clients with us, so two two new clients which and which equates or more that equates to 15% growth, we're gonna pay you $5 for every employee that you've ever sold with us. If you had more than a thousand employees to start, we're gonna pay you $10 for every employee you've ever sold with us, not just that year. If you'd if you're brand new to TriNet, you haven't started haven't don't have any WSEs with you for this part, if If you get up to 50, we'll pay you $5 for all those 50 employees at the end of the year. Now for persistency, so maintaining the book with us. If you maintain an 85% persistency, client persistency rate, if you have between 250 and a thousand worksite employees on February 1. We're gonna look and measure that at the January, maintain 85%. We're gonna pay you $10 on every employee you've ever written with us. If you have more than a thousand employees, we'll pay you $15 for every employee you've ever written with us. And if you hit both of those, you get a bonus kicker. For the $2.50, 1,000, you get a kicker of five. And for the thousand plus, you get a kicker of 10. So if you're doing the math, if you hit all, if you hit the two, you get the bonus. If you get between two and fifteen thousand WSEs, you're gonna get an extra $28 for every employee you've ever put on the books with us that's with us. And if more than thousand WSEs, $35. So this is a great benefit. I hope everybody focuses on it. It's it's aligns our interest. We wanna help you grow, and we wanna retain business together because that's letter day for you if you don't have to flip the business from PO to PO or to the open market. TriNet, and then we're gonna get into some what's coming next. So I just wanna kick a a quick blurb here. We are supporting a lot of our partners say, hey. You know, I got this friend. I got a niece. I got a a daughter. I know somebody that just got out of college and looking for a job. We have a program now. You can see all the states that we're in and it's called the TriNet where we're supporting early career talent. We're developing these individuals right out of college, a couple years out of college, bringing them in local office space. We're gonna train them, understand PO, understand them, and they are gonna fan out into the marketplace and work with our broker partners as well. So if you have somebody that is looking for, is early on in their career, we'd love the referral. I get a lot of these, you know, unsolicited, but we're soliciting them not too. Please come to us if you have any people that might fit in these markets. We have a few broker connect regional events. These are the cities that we're gonna be in the upcoming months in Florida, Tampa, four areas in California, OC, San Diego, Pasadena, Redondo Beach, and Denver. And we'll have another, select groups in June, July, and August that will release later. If you're in the market, we have local brokers come speak. We talk about trends. We talk about what's working. It's a good opportunity to socialize, have carriers come. We'd love to see you there if you can be there. And lastly, I wanna talk about what's ahead. So you may have gotten a message from either my c r CRO, Shane Tradway, or my CEO, Mike Simon, is about Cocoon. So what does Cocoon do? We just acquired Cocoon to be embedded within our service. And Cocoon is a leave of absence software. So why leave of absence? If you've ever had to go on leave of absence, had friends, had employees, whatever it is, clients, it is a pain in the ass. It is a not a fun experience. It takes a lot of manual intervention. It's stressful. You're going out in LOA, which is stressful, and then you have a stress to manage this. So what Cocoon did was they created a proprietary algorithm to codify federal and state laws. Right? And then that interacts with the company policies, which interacts with state benefits, which then ties into and syncs in real time with payroll and census data. And it creates this cocoon. Right? Hence the word, nice and warm and comforting. So essentially, how I can distill this down is this will be embedded within TriNet. This will create a phenomenal experience. A lot of you are trying to work with different leave of absence. Softwares companies are soliciting you. People are popping up trying to sell stuff like this. It's a side API or connection or wherever it's handled. This will be embedded. It is a very good experience. Simplified benefit support for HR plus clients. That is a very cryptic way of saying that we are integrating with employee navigator. So the employee navigator, launch will happen at some point this summer. The day is a little bit of a moving target right now, but it's gonna definitely be this summer. Where I see this having a massive impact, folks, is specifically in our administrative services only platform, which is non co employment, where we pair with the open market and we have payroll, HR, payroll managers, everything that you can need potentially less the coemployment. It's different reactive, proactive, different ways to do it, but the ASO model would tap in nicely with employee navigator so that your, your client administrative folks don't have to learn a different system. And lastly, improve broker visibility into renewals. So we get to you ahead of time whenever there's a renewal. But what we heard and we've been listening is you want those renewals even earlier. So right now we've been getting out to you days to weeks in advance with a normal renewal. Normal renewal, I mean, is not shockingly high because there was turbulence in the market. For very high renewals, if a group had really bad experience, we're getting out six months in advance. What we're piloting right now is a six month preview into your renewal to give you green, yellow, red, you know, stoplight of with percentages of where the renewal will likely be so you can see how's it trending. And then as we get closer, we'll refine that. So again, folks, the main message I wanna get you to hear from me today is we are doing what we can to listen to our clients, to our prospects, to you, to create solutions and buy companies and invest in technology that is going to take us into the future and make sure that we're creating a better experience for everybody that's involved. I appreciate your time today. Because of time and how we try to keep these short, we're not gonna do questions. But what we will do, if there's any questions in the chat, and I can't do two things at once, so I can't read the chat too and talk to you. We're gonna respond to those questions individually. We'll send them out to the group so the group can benefit from the question, and we will send this recording out. I thank you very much. I'm gonna turn it back to Katrina, for any closing, for sort of closing comments. Before we wrap up, we invite you to join us for TriNet's National Small Business Week virtual summit, a free three day virtual event happening May 5 through May 7. The summit features nine thirty minute sessions highlighting key priorities for today's small and medium sized businesses. Day one, smarter work, focuses on AI and productivity. Day two, stronger teams, highlights talent, retention, and the compliance, payroll, and risk. Register now for TriNet's National Small Business Week virtual summit. We look forward to seeing you there.