Larger employers demand more technology-enabled enrollment capabilities and integration, according to latest Eastbridge research
AVON, Conn., Dec. 11, 2018 (GLOBE NEWSWIRE) -- Eastbridge’s Market Vision™ The Employer Viewpoint Spotlight™ Report found that most employers with 100 or more employees used an online platform in their most recent enrollment, but whether the platform was carrier-provided or a ben-admin system provider varied by the number of employees. While all employers showed the strongest preference for enrolling all products on one platform, regardless of the number of carriers, employers in the 100+ lives segment are more likely to indicate a preference for systems and enrollment integration overall, like having online enrollment be a part of their ben-admin system. In addition, most employers in this segment use a benefits administration system.
Across all employer sizes, a free or discounted carrier-provided ben-admin system is viewed as extremely important or very important when it comes to choosing a voluntary carrier. Other factors of increasing or consistent importance, compared to 2014, are the availability of tools, calculators and benefits advice; carrier help with developing a communications and enrollment strategy; and the recommendation of a broker/agent. Quality enrollment and communication materials showed the largest increase in importance since 2014.
Online administration capabilities continue to be important, with only 10 percent of employers viewing it as unimportant. In fact, close to 40 percent of employers said they would not select a carrier that wasn’t able to provide online administration. Not surprisingly, the importance of online administration increases with employer size. The two most critical services overall for employers are the “ability for the employee to file claims online” and the “ability to adjust and pay a bill online.”
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Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.
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