As benefits enrollment becomes more technology based, Worksite Specialists (also known as enrollment companies) are actively developing their own technology capabilities in order to meet the demands of those involved in the voluntary marketplace. This often means either acquiring those capabilities from a third-party, creating strategic partnerships with technology providers, and/or developing proprietary capabilities in-house. With this greater focus, however, Worksite Specialists are now finding themselves competing not only with other enrollment companies, but technology firms.
The survey also found that like enrollment companies, technology firms are also offering their own benefit-administration systems to clients, causing the lines between the two entities to begin to blur. Some technology firms and Worksite Specialists are even merging or acquiring one another in order to provide the most sophisticated enrollment tools and technology-based services as well as comprehensive benefits administration services.
Enrollment Companies Evolve with the Voluntary Market, is the third report published by Eastbridge Consulting on Worksite Specialist services; the first was published in 2008, followed by an update in 2011. The purpose of the report is to help carriers stay current on the type and range of services provided by these companies in 2015 in the midst of a continually changing market.
The cost of the report is $2,000. To purchase, call
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.