New Eastbridge report examines growing role of technology in benefits enrollment and administration

Benefit carriers increasingly use tech partners to support communication, enrollment

AVON, Conn., Oct. 27, 2022 /PRNewswire/ -- Technology partners have become an essential part of doing business for most benefit carriers, but they still struggle with some of the unique aspects of voluntary coverage, according to Eastbridge's new Enrollment and Benefit Technology Partnerships: Carrier and Vendor Perspectives Spotlight^™ Report.

The report shows technology partners can support most carriers' product features, including evidence of insurability in real time or through a separate PDF form or electronic data interchange. But individual products, fully underwritten products, issue-age products and stacked coverages are a challenge for some technology partners.

The Enrollment and Benefit Technology Partnerships: Carrier and Vendor Perspectives Spotlight^™ Report uses survey data from 34 benefit carriers to examine how they use technology with enrollment and benefit technology partners, including tools to support benefits and enrollment education and the value and options different partners offer.

The report also shows carriers think decision-support tools — educational tools such as calculators, videos and product information — will continue to be an important part of technology platforms.

"The need for these types of tools is expected to grow, with more focus on personalization and providing access to an expert to answer questions," said Danielle Lehman, Eastbridge senior consultant.

Other key findings in the report include:

• Application programming interfaces, or APIs, are now the preferred data exchange format for carriers and benefit technology partners.
• Technology partners offer flexibility on file exchange formats and typically don't charge carriers for using nonstandard formats.
• Technology firms cite slow response times, incorrect information and lack of engagement of key resources as pain points in working with carriers.

Information about purchasing the Enrollment and Benefit Technology Partnerships: Carrier and Vendor Perspectives Spotlight™ Report is available on Eastbridge's website. Those interested can email [email protected] or call (860) 676-9633. 

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada. Follow Eastbridge on LinkedIn at https://www.linkedin.com/company/eastbridge-consulting-group.

SOURCE Eastbridge Consulting Group