Enrollment and Benefit Technology Partnerships: Carrier and Vendor Perspectives Spotlight™ Report

Cost: $3,000; published 2022

As the use of enrollment technology in the voluntary benefits marketplace continues to expand, it is more important than ever for carriers to be aware of technology advancements, tools to improve enrollment participation, and the type of enrollment and benefit technology partners in the market so they can effectively meet their customers’ needs.

The 2022 Enrollment and Benefit Technology Partnerships: Carrier and Vendor Perspectives Spotlight™ Report examines how carriers are using technology with these partners, including tools to support benefits and enrollment education and the value and options different partners offer. With this information, carriers can compare their enrollment and technology strategies with competitors to determine ways to enhance and fine-tune their own approach to this ever-evolving aspect of the voluntary benefits market.

View Table of Contents

1. Executive Summary

A. Report Objectives

B. Methodology

C. Key Findings

D. Recommendations

2. Carrier Findings

A. Company Data

1. Voluntary Product Platform

2. Typical Voluntary Case Size

B. Connectivity and Data Transfers

1. API Data Exchange

2. Current Uses of API

3. Partnering with Third-Party Vendors for APIs

4. API Prioritization

5. Timeframe to Use APIs in the Future

6. Preferred File Formats

7. Fees for Nonstandard File Formats

8. LIMRA Data Exchange Format Adoption

9. Leveraging Data Exchange for Billing Purposes

C. Benefit Technology Partnerships

1. Active APIs

2. Implementation Timeframes

3. Primary Payment Methods

4. Rates Loaded to Offset Benefit Technology Partnership Fees

D. Product Support

1. Evidence of Insurability Support on Technology Platform

2. Difficult Product Features to Build on Technology Platforms

E. Educational and Decision Support Tools

1. Benefits Education Approach to Online Enrollment

2. Decision Support Tools

3. Enrollment Tools Incorporated into Decision Support Tools

4.Product Availability on Decision Support Tools

5. Impact of Decision-Support Tools on Participation

6. Decision Support tools Differentiation

7. Enhancing or Adding Decision Support Tools

8.Partnering with Third-Party Vendors for New Tools or Enhancements

F. Current Issues/Future Trends

1. Key Concerns or Obstacles When Working with Benefit Technology Partners

2. Current and Future Benefit Technology Partnership Trends

3. Impact of Availability of Different Types of Benefit Technology Partners

4. Improvements to Carrier-Benefit Technology Partners Relationship

5. Impact of Preferred Technology Platform Partnerships on Employees’ Enrollment Experience

3. Benefit Technology Partner Findings

A. Technology Partner Information

1. Type of Platform

2.  Length of Time in Business

3.  Structure of Ownership

4.  Major Competitors

5. Platform Positioning

B. Connectivity and Data Transfers

1. Data Exchange Formats

2. Preferred Data Exchange Formats

3. Key Characteristics of an API Data Exchange

4. Current Uses of APIs

5. Future Use of APIs

6. Connection to Third-Party API Platforms

7. Required File Formats for Non-API Data Exchanges

8. Fees for Nonstandard File Formats

9. LIMRA Data Exchange Format

10. Types of Security Protocols

11. Change File Support

12. Elimination of Other File Transfer Processes

C. Products

1. Product Build Timeframe

2. Factors Delaying Integration

3. Limitations on Types of Products Supported

4. Limitations on Product Features

5. Issue-Age and Attained-Age Pricing

6. Evidence of Insurability

D. Educational and Decision Support Tools

1. Educational Tools Used on Platform

2. Decision Support Tools Supported on Platform

3. Decision Support Tools Platform

4. Future of Decision Support and Educational Tools

E. Challenges and Future Trends

1. Key Platform Differentiators

2. Marketplace Challenges or Obstacles

3. Top Carrier Issues

4. Improving Carrier Relationships

5. Key Trends or Issues

 

 

 

 


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For more information, please contact us at [email protected] or (860) 676-9633.

 

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