Market competition spurred by broker and employer demands continues to drive providers to offer technology platforms that not only administer the benefit business, but enroll employees, educate them on the employer’s benefits portfolio, and serve as a private exchange, when needed. To meet these demands, many carriers are finding they either want to, or are asked to, partner with an external provider that can deliver a variety of online capabilities and self-service enrollment, as well as human-based client support.
Eastbridge’s recently released report, Enrollment and Benefit Administration Platform Providers: A Marketplace Review, looks in detail at the technology platforms of leading technology providers and presents side-by-side comparative data on key benefit enrollment and administrative capabilities and processes for those profiled. Following are a few findings from the report:
All of the providers profiled support the enrollment and administration of medical, traditional employer-funded group, and voluntary group products as well as some combination of non-traditional voluntary products and “other” benefits such as FSAs, HRA/HSAs, COBRA and dependent care plans.
Most of the participating providers include a standard customer service and technical support package in their overall fee structure that includes project management, system set-up and implementation, technical support lines for both employers and employees, and ongoing administration functions.
Most provide call center technology or online/live-chat capabilities for employees and/or specific account management and service individuals and/or teams to support the employer and carrier.
Enrollment and Benefit Administration Platform Providers: A Marketplace Review, a Spotlight™ Report
The cost of the report is $2,500. To purchase, call
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.