Report shows need for efficient, seamless system integration
Voluntary carriers must be able to seamlessly integrate multiple administration systems with multiple vendors to meet customer needs and succeed in the market, according to Eastbridge’s new Administrative Practices of Voluntary Carriers Spotlight™ Report.
The report shows the majority of carriers use separate but integrated systems for their administrative functions. Only a handful of those surveyed for the report use a single system to manage all administrative functions.
The Administrative Practices of Voluntary Carriers Spotlight™ Report uses survey data from 35 voluntary carriers to compare detailed information on key carrier administrative practices such as administration structure and capabilities, policy issue, service standards and capabilities, and voluntary administration current and future trends.
“Strong enrollment capabilities and products are necessary, but they’re not enough to compete long-term in today’s voluntary marketplace,” said Ginger Bates, Eastbridge director of research. “Back-end administration — the quality and reliability of policy issue, billing, and service support processes in particular — is equally important.”
Other key findings in the report include:
Administrative Practices of Voluntary Carriers , a Spotlight™ Report
About Eastbridge Consulting Group — is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada. Follow Eastbridge on LinkedIn.