Open enrollment on the individual market is officially in full swing, and the broker role has never been more critical. Over the last couple of years, more brokers have been partnering with private exchanges to stay ahead of the ever-changing benefits game. Why are private exchanges so attractive for brokers? There are many answers. Exchanges typically provide a benefits admin portal, decision-support technology, and access to a wide array of carriers and plans for employees to choose from. What it comes down to for most brokers, though, is really one key factor: automation.
Brokers appreciate having a private exchange because it can streamline what needs to get done for their clients and it gives them the capability to spend more time selling. ConnectedHealth created our Genie platform to make it easy for brokers to reach out to employee populations with multiple levels of stakeholders involved. Our technology caters to associations or corporations that have many individual offices or independent organizations that need to be reached.
An excellent example is a company with thousands of franchises that have members who need to receive benefits communications. ConnectedHealth works with the corporate office to develop a communication plan and Genie allows the individual franchises to sign up for communication to their employees about shopping for benefits (using email and online templates) – quickly and easily. For the franchisee, it’s as easy as adding their employees’ contact information into Genie, clicking to confirm, and then an automated communication is sent to each employee announcing their access to the exchange shopping platform, along with other key information about deadlines and tips for shopping.
With open enrollment on the individual market just beginning to unfold, Genie is a good reminder that the right benefits automation system can be a simple yet powerful tool for brokers. It’s a great way to effectively administer a consistent and retail-oriented benefits-shopping experience to thousands of individuals with different coverage needs, in different geographic regions, without having to spend hours of time compiling contact information and drafting communications. This is a true salesforce aggregator for brokers: they can outreach to a previously untapped market.
It’s time for brokers to take control of these opportunities and let the technology work for them.