The first issue of the new year rings in a new January feature - our Readers' Choice Awards. Benefits Selling kicked off its debut Reader' Choice survey to highlight the more noteworthy products and companies serving the benefits broker community. We also wanted to hear from you: the reader. Each of the winners earned recognition for cutting-edge products, breaking new ground and excellence in service.
#1 - What Company's New Technology Porduct is Generating the Most Interest in the Broker Community?
ZYWAVE
Zywave leads the field with its line of Web-based employee benefits and property and casualty communication, administration and claims data analysis systems. According to the company, "These applications help brokers secure and retain business by differentiating them from their competitors, and allowing them to compete on a high-capabilities basis." www.zywave.com
BLUE CROSS AND BLUE SHIELD
With Blue Cross and Blue Shield's online enrollment, everything is easier. At least that's how Angela James, sales manager at Hebert Insurance Agency, feels. "With Blue Cross/Blue Shield, my clients are able to go online and make changes to their policies," she says. "They can add employees or dependents, make changes to the policy and more. It's very hands-off for me, as the client can handle most of it on his or her own. I find this to be true with all their employee benefit product offerings." www.bcbs.com
#2 - Which Company Offers the Most Comprehensive and Effective LTCI Product?
UNUMPROVIDENT
In December 2004, UnumProvident unveiled Group Long Term Care Advantage, a new product that allows employers to design a policy that best meets the needs of their employees. More recently, LIMRA International ranked UnumProvident No. 1 based on the number of insureds covered in the employer-sponsored group long term care insurance market, with an excellence 2004 enrollment of 485,290 employees. By mid-year 2005, UnumProvident exceeded enrollment of a halfmillion covered lives. www.unumprovident.com
ALLIANZ
Allianz designed Life Generation Protector to offer clients more coverage -- and more flexibility. In addition to facility care protection, Generator Protector offers several home and community care benefits. By adding the Monthly Indemnity Benefit Rider to a client's Allianz Life "Generation Protector" policy, the broker can blend the client's traditional home care benefit with the Monthly Indemnity Benefit Rider, and their LTCI policy gains flexibility, efficiency and performance. Clients can then receive a guaranteed sum of cash on top of the daily reimbursement rate, at a lower cost than many reimbursement-only policies. www.allianz.com
#3 - Which Third Party Administrator Delivers the Most Comprehensive Service?
AMERIFLEX
Established as a Third-Party Administrator in 1998, AmeriFlex provides technology-based services and product solutions to clients throughout the United States. AmeriFlex, out of Mount Laurel, N.J., serves more than 3,000 clients who represent more than 1.4 million employees. In 2005, AmeriFlex introduced AmeriFlexConnect, an Internet-based employee benefits administration system. According to the company, "AmeriFlexConnect empowers employees to manage and control their benefits at any time over the Internet. This system reduces human resource involvement and lowers administrative cost per employee." www.flex125.com
CORPORATE BENEFIT SERVICES OF AMERICA
CBSA is a national health benefits administrator and medical management services provider for employers, insurance carriers, health plans, TPAs, associations and government agencies. Founded in 1974, CBSA is dedicated to serving clients of all sizes by offering cost-effective benefit administration and nationally accredited medical management services for self-funded and fully insured employee benefit plans. Minneapolis-based CBSA, with more than 500 employees, serve more than 400,000 individual lives with custom benefit solutions. www.cbsainc.com
#4 - Which Company's Products Stand out in the HSA and FSA Market?
ASSURANT HEALTH
Assurant Health, rolled out new features to their individual and small group HSA product offering last year. In 2004, the company unveiled HSA Tools, which provided owners with the ability to "manage account transactions with an integrated, secure Web site, as well as debit card and checkbook." HSA Tools also provides health information, quality data and selfdiagnostic tools via the Internet. Now, Assurant Health HSA owners will be able to invest in mutual funds, establish recurring automatic deposits from their checking or savings account into their HSA, and access detailed information on prescription drugs. www.assuranthealth.com
BLUE CROSS
Blue Cross and Blue Shield companies provide health savings account- compatible health insurance products in 39 states and expect to have HSA-compatible policies nationwide by the end of the year, according to the company's Web site. In the small group and large group markets, Blues carriers offer HSA-compatible products in 34 states. By 2006, Blues companies expect to offer HSA-compatible products in 42 states' individual markets, in small group markets in 48 states and Washington and in all but one state's large group markets. www.bluecross.com
#5 - Which Company's Nontraditional Voluntary Benefit Promises the Most Growth Potential?
AFLAC
According to Insurance consultant Jeff Strub at Jenkins & Associates, it's all about name recognition. AFLAC can pin a lot of its success on ad campaigns that somewhere grew into a cultural icon. "To be honest, I prefer AFLAC because of their marketing practices," Strub says. "Their name recognition is high, and everyone talks about how well known they are with voluntary benefits. Their service is good, claims payment is simple, and they're always running new programs and incentives. They just seem to be ahead of all their competitors." But it also helps that the company's unique product has been around for 50 years. www.aflac.com
ALLSTATE WORKPLACE
Large companies aren't always known for their innovation, but Allstate Workplace breaks that mold. That's why our readers gave the carrier the runner-up nod in the nontraditional voluntary benefits arena. www.allstate.com
#6 - Which Carrier is Most Receptive to the Needs of the Broker Community?
AFLAC
AFLAC agents are fiercely loyal. This loyalty stems from the carrier's constant commitment to helping agents build their business. www.aflac.com
TRUSTMARK
Trustmark is a carrier that earned a reputation for top-notch service in the broker community. Their response and respect for brokers is common knowledge in the worksite world. www.trustmark.com
#7 - Who Offers the Best Electronic Enrollment System?
AFLAC
It goes without saying that AFLAC knows a little something about breaking new ground. So it should comes as no surprise that Benefits Selling readers gave the nod to the duck when it comes to their groundbreaking electronic enrollment capabilities. www.aflac.com
COLONIAL LIFE
Electronic enrollment is now a vital component of most brokers' business. Our readers strongly believe Colonial is ahead of the pack when it comes to this growing field. www.coloniallife.com
