Case Study: Saving $440k While Improving Benefits Thanks to Long-Term Carrier Relationships
Published June 16, 2025
The Challenge: Cherry, a private fintech company, was unhappy with its medical carrier due to poor service, high costs, denied claims, employee dissatisfaction, and a steep 13% renewal. As their broker, Newfront knew they needed to explore a different approach—one with cost control, access to stronger networks, and an improved overall carrier experience.
The Solution: Mike Vierra, Senior Vice President of Employee Benefits at Newfront, and Yanni Spiliotis, Benefits Consultant, approached the challenge by first focusing on Cherry’s core objectives. The Newfront team aimed to find a comprehensive solution that enhanced Cherry’s core employee benefits without increasing overall costs. Early on in the process, Vierra and Spiliotis knew they wanted to evaluate other carriers. They reached out to one of their long-time, trusted carriers, which offered clear and competitive terms in alignment with Cherry’s needs.
As Vierra and Spiliotis put together their strategy, they actively listened to Cherry’s leadership team, tailoring their solution to meet Cherry’s objectives. Newfront’s ability to negotiate strategically and align with Cherry’s goals both reinforced trust and delivered a significant competitive advantage.
The Results: Newfront secured a -.1% renewal for Cherry, down from the initial 13% increase, delivering $440,000 in savings. At the same time, Cherry also significantly improved employee contributions, enhanced benefits, and increased employee satisfaction. Lower family costs and added coverage aligned Cherry’s offerings with industry benchmarks. Newfront also secured $84,000 in transition funds and an additional $27,000 in guaranteed surplus credit.
Following open enrollment, Cherry ran employee satisfaction surveys. The results were resoundingly positive, validating Newfront’s strategy and reinforcing Cherry’s ability to address employee needs while still containing costs. Vierra and Spiliotis’ tailored approach not only met Cherry’s immediate objectives but also helped them win employee trust and positioned them for long-term success.
