Improvements designed to accelerate Health Plan sales and improve member retention through an optimized sales process
Benefitfocus, Inc. (NASDAQ: BNFT), a leading technology platform provider enabling rapid innovation for employers, health plans and consumers, today announces significant software updates to its Benefitplace™ platform specific to health plan users, with further upgrades set for release in mid-June. The updates enhance the Shopping & Quoting functions on the platform, to further simplify selling and distribution through an automated, insight-driven experience for brokers and groups.
“These enhancements represent our ongoing commitment to provide end-to-end solutions that increase efficiency, improve satisfaction and accelerate sales growth for our health plan customers, as part of our mission of improving lives through benefits,” said Ravi Metta, Executive Vice President, Product & Engineering, Benefitfocus. “They are driven by direct input from our users, which is crucial, because we know the real value of our solutions can only be determined by the satisfaction level of the people who use them.”
The software updates will impact the Shopping & Quoting experience in the following ways:
- General Agency Role: By expanding the hierarchy of the general agency role, users will be able to manage a book of business by enabling multiple sub-agencies to be assigned to the general agency.
- Employee Participation for Preliminary Rating: Agents or brokers will be able to generate a more accurate proposal by entering the estimated employee participation level for each product when calculating premiums.
- Carrier Logos in Plan Comparison: Carrier logos are displayed in the plan comparison experience, providing a clear visual of which insurance carrier is being offered.
- Proposal PDF Output: The standard proposal documents incorporate the information and details needed for agents and brokers to effectively communicate products, plans and rates to a group customer.
- Census File Import: Updating the census file loading process with a more intuitive experience that will provide communication on errors and how to resolve them.
- Plan Display: Health Plans now have the ability manage the display order of plans presented to agents and brokers, allowing them to strategically position their products and plans to group customers.
In June, further enhancements will debut:
- Offer Supplemental Insurance Products to Group Employees with Individual Quoting: Employers will be able to offer employees individual supplemental insurance products through the Quoting experience with individual / family rates.
- Census: Additional fields will be added to the census offering health plans the opportunity to request additional data. New fields include dependent Social Security Numbers, dependent email addresses, employee and dependent addresses and phone numbers.
- Proposal: The provider network for each product/plan will be added to the proposal outputs to provide employers with the associated provider network, enabling them to easily identify the associated network and review the in-network providers.
- End of Month Quoting Date: Health plans will be able to use rules to enforce the last day of each month for proposals with an effective date in the same month. The new rules allow for dates to vary from month to month and the ability to extend the date without deploying code.
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