Case Study: Tradeshift avoids a major benefit plan cost spike with Sequoia

Resident Home Grows in Partnership with Sequoia One and Sequoia Tech

Tradeshift, a company that provides a digital trade technology platform, faced a significant challenge when their health insurance carrier proposed a shocking 23% premium increase at renewal. Vice President of People Doug Folden turned to their vendor, Sequoia, and its Healthcare Benefits Services, giving them an ultimatum: negotiate the increase down to a manageable 12% or risk losing Tradeshift's business.

Sequoia implemented a solution by strategically delaying negotiations with the carrier. They waited to present fresh data showing that a temporary spike in employee healthcare utilization had normalized. By persistently demonstrating this declining trend and emphasizing their long-standing client relationship, Sequoia successfully negotiated at the last minute, achieving a rate increase of just 11.5%, half a point below the target. This result saved Tradeshift from major cost increases and operational disruption, ultimately leading Doug Folden to bring Sequoia with him as a vendor when he moved to his new role at Tradeshift.

Tradeshift

Doug Folden

Vice President of People