Adopting a benefits administration and HR platform can make open enrollment easier for you and your clients. That said, you will still need to provide a level of support around the technology, especially in the first year it is implemented.
Insurance agencies that historically focused on property and casualty have a once-in-a-lifetime opportunity to expand into benefits in a really meaningful way.
When it comes to benefits software integration, limitations are based on what carriers are able to accept, and EDI technology is usually the best integration option most insurance companies can offer.
Implementing a new platform is a big undertaking, and it opens up a lot of questions. The first question for many brokers is When is the right time of year to make the move?
There are seven criteria brokers should use to compare benefits administration software. Weve covered the first five in previous columns, and now well outline the sixth: the product beyond benefits.
The insurance industry isnt as technologically advanced as other industries, so integration limitations are often based on insurance company limitations.
Rather than selecting one that can only handle one or two funding strategies and hoping for further development, look for a platform with a wide range of funding functionality.
DebugScreen: mobile
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