A LIMRA survey looked at how employers are using digital tools to implement and administer voluntary benefits. Fifty-eight percent of those with access to digital tools are using web chat while 78% are using online billing and a dedicated web portal for benefits administration.
“Employers want to simplify processes, such as plan administration and billing, and technology is key to meeting these goals, said Mary Lesch, Ph.D. of LIMRA. Data also reveals a direct link between the number of digital tools that are available and being used and the employer’s satisfaction with service. She adds that the demand for digital tools is likely to increase with the growing prevalence of remote work.
The following chart reveals the digital tools that employers have with voluntary benefits and the ones they want. Fortunately, CoPower checks all the boxes with every tool on this list.
| Employers Using it | Employers that Want it | |
|---|---|---|
| Online billing | 78% | 86% |
| Benefits admin portal | 78% | 77% |
| Download plan documents | 77% | 89% |
| Download employee forms | 74% |
75% |
| Review employee applications | 73% | 73% |
| Have a single sign-on/System Integration | 68% | 70% |
| Mobile benefits admin | 63% | 64% |
| Web chat | 58% | 63% |
Employers use CoPower’s platform to easily manage benefits – enrollments, terminations, changes, commissions, invoices, renewals, and more. A single submission can update all benefits across any number of supported carriers.
To find out how to offer the best digital experience with voluntary benefits, contact:
Rodney Mattos
CoPower Regional Sales Manager
Email: rmattos@copower.com
Phone: 916.261.9280
Schedule an Appointment with Rodney
or
Jason Diffenauer
CoPower Sales Account Manager
Email: jdiffenauer@copower.com
Phone: 650.931.1731