RFP Response

Broker/Consultant Overview

1. Please describe the ownership structure of your firm.

Thank you for the opportunity to participate in your benefits broker search. We have answered your RFP thoroughly with responses that we hope will make your decision easier.

Innovo Benefits Group (“Innovo”) was founded in 2016 by Eric Gulko and continues to be privately owned and operated. Innovo is part of IA Solutions Group, an organization headquartered in Concord, MA, which offers both health & welfare and retirement plan services. We also have a strong affiliation with NFP, a well-regarded national brokerage firm. This gives us access to the tools of the largest firms while maintaining our independence and ability to work nimbly with zero red tape.


2. Please share a mission statement or a similar statement of purpose that will help us better understand your firm.

To promote better healthcare and financial well-being through employee benefits program performance, mutually rewarding relationships, and community involvement. We do this by delivering every benefits solution our clients need and by adhering to Triple Bottom Line (TBL) accounting practices. TBL allows us to create better business value by focusing on three bottom lines: social, environmental, and financial. As a nimble, independent broker, we actively choose innovative paths that deliver better service and value for our clients, partners, and the world.


3. What is the total approximate number of employee benefits clients you serve?

We serve over 100 out of the local office and many thousands more through our membership at NFP Benefits Partners.

Innovo offers a very unique value proposition: the deep resources and expertise of a large firm available from a local boutique agency with incredibly high levels of service. We do this by bolstering our in-house resources through a strong affiliation with NFP, a well-regarded national brokerage firm with thousands of employees worldwide.


4. How many companies of similar size to our firm do you serve?

The majority of our clients are in the 25-500 employee range.


5. How many companies in our industry do you serve?

We have clients in your industry, dozens more in the non-profit space out of our local office and serve many more nationwide. We understand the unique benefits and human resources needs these types of organizations have. For instance, we serve The New England College of Optometry (NECO), an organization that may have similar benefits requirements and cost-savings opportunities to Orbis. If you are not already affiliated with that group, it might be a valuable networking opportunity.

We also know that nonprofits in general see employee benefits as more than a necessity, but often as a reflection of the organization’s values. While cost control is certainly extremely important with nonprofits, the balance between the cost and the value of the benefits is very much a focus, and employees come to expect rather generous benefits. In addition, through our research on your organization, we learned about the Orbis Flying Eye Hospital. What a great service! We count as another client a charter and commercial airline.

Through our experiences there, we understand the nuances with benefits and pilots, from specified life insurance/disability coverages to FAA requirements regarding mandatory employee assistance programs. Finally, through our NFP tools, we have access to broad benchmarking data on thousands of client benefits programs – data that is filterable by your industry and location(s).


6. Are there any financial or legal concerns with your firm we should be aware of?

None at all. Innovo is committed to the highest level of accuracy and integrity in our work and service to our clients. We have neither current nor pending litigation, nor administrative actions against the company. Moreover, we have never been sued or investigated by any regulatory authority since our company’s founding. Finally, while we maintain sufficient Errors and Omissions insurance coverage, we have never had to file a claim.


7. Please confirm you agree to full transparency of commissions and other payments from carriers.

Yes. But here’s what makes Innovo truly unique:

  • We donate most of our carrier bonuses to charity
  • We only quote standard commissions
  • We do not maintain limited carrier panels

This means we are working solely in your interest, which leads to stronger positioning with the carriers and thus better, lower renewals for you.

Learn more about Innovo’s transparency here.


8. Please list your E&O insurance carrier, coverage amount and policy termination date.

Utica National Insurance Group. Two-million dollars per loss, $4 million aggregate. Policy period runs 11/21-11/22. We have never filed a claim.


9. Are there any Carriers in our market(s) that you do not have access to?

No, we are truly independent and will work with any carrier to ensure the most appropriate level of service for our clients.


10. Does your firm have an international footprint and if so, in which countries do you have expertise?

On the national and international level, we leverage our NFP resources for additional compliance support, ongoing education through podcasts and additional webinars, international expansion, compensation consulting needs, and any other related service needs that may arise. When we have had client benefits needs in other countries, including Canada and France, we leverage our extended international NFP resources to place appropriate coverage.