Latest Eastbridge report finds that human-based service support for voluntary benefits, in addition to online, self-service technology, is offered by enrollment and benefit administration platform providers.

AVON, CONNECTICUT, USA (February 14, 2019)

As the administrative, enrollment, and educational support needs of brokers and employers continue to increase, enrollment and benefit administration platform providers are responding by constantly updating their systems and adding new services to remain competitive.  While providers commonly offer core, voluntary, open and ongoing enrollment functionality with reporting on their platform, many also provide call center technology, support face-to-face enrollments, and offer Spanish language platform and service support.

Voluntary carriers often want to, or are asked to, partner with these external providers to efficiently meet the demands of their broker and employer customers. The Enrollment and Benefit Administration Platform Providers: A Marketplace Review Update Spotlight™ Report supports carriers’ efforts to evaluate the offerings in the marketplace by looking in detail at technology platforms of leading providers, and presenting side-by-side comparative data on key benefit enrollment and administrative capabilities and processes for those profiled. Following are a few key findings from the report:

• In addition to robust enrollment, reporting, and self-service platform capabilities, most providers can also offer HSA/HRA administration, payroll processing, HR knowledgebase, flexible spending accounts, commuter reimbursements, time and attendance tracking, and COBRA.
• Full enrollment capabilities through an application or website on a smartphone or tablet are offered by most, while a few providers have view-only capabilities.
• Most providers distribute their services through multiple channels, with brokers being the most common distributors.

 

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.