Andrew Pogos

Andrew Pogos asked about TriNet's pricing strategy post-January 1, comparing it to peers and inquiring if competitors are still in a 'catch-up' phase. He also sought to characterize the key drivers behind the expected sales improvement in 2026, including the broker channel, rep tenure, and the Ascend program.

Answer

Mike Simonds, President and CEO, confirmed the catch-up period is largely behind TriNet, positioning them in line with the market for Q1, and potentially favorably if competitors still have catch-up work. He identified the brokerage channel as an outsized contributor to immediate growth, retaining experienced reps as a big driver due to new capabilities, and the Ascend program as a longer-term investment contributing more significantly in 2027 and beyond.

Andrew Pogos asked about TriNet's pricing strategy post-January 1 catch-up, specifically how it compares to peers and if the pricing environment is now more in line with TriNet's approach. He also inquired about the specific drivers of the expected sales improvement in 2026, including the broker channel, improving rep tenure, and the Ascend program.

Answer

Mike Simonds (President and CEO) confirmed that TriNet is largely past the catch-up pricing period, acknowledging that elevated healthcare trends remain a market challenge. He expressed confidence that TriNet's Q1 2026 pricing is in line with the market, potentially favorable if competitors still have catch-up work. He identified the brokerage channel as an outsized contributor to immediate growth, senior reps as a significant driver due to new capabilities, and the Ascend program as a longer-term investment contributing more substantially in 2027 and beyond.