April 1 2 45pm - belinda maffei

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April 1 2 45pm - belinda maffei

  1. 1. It’s All About Me:  Trends in delivering a  customized benefits experience Belinda Maffei Broker Marketing Director, Colonial Life 
  2. 2. Agenda Custom: It’s simpler than you think Customize your experience Customizing for your clients Customizing for employees
  3. 3. WHAT’S IN IT FOR ME? Opportunity + Flexibility + Differentiation = The WIIFM Principle
  4. 4. Transforming your business with the WIIFM principal Ask yourself the  question for each  “me” in the  benefits process. Step 1 Leverage tools and  capabilities that  deliver the  custom experience. Step 2 Unlock the power of a custom  approach across  all levels of your  business.  Step 3
  5. 5. Apply the  WIIFM Principle Create Your  Custom Experience • Partners that get your business • Use others’ experience, stability and  expertise to the benefit of your business • Options without the overhead • Expand your capabilities without   additional investments • Revenue and agency growth • Position your business for success now and in the future When “Me” is You
  6. 6.  Single system for core and voluntary  Plug-in capabilities  Product hosting capabilities  Traditional enrollment options: enroller-assisted, group meetings, call center, co-browse, self-enroll Options without the Overhead  Non-traditional enrollment options: census enrollments, automatic enrollments  Variety of enrollment methods consistently delivered by trained, tenured enrollers (enroller-assisted, group meetings, call center, co-browse, self-enroll)
  7. 7. Options without the Overhead Pros Cons •Employee‐owned  •Portable  •Guaranteed renewable in most  states  •No participation requirements  •No account‐level rate increases •Typically stricter underwriting •Typically higher priced than group  products •Limited rate flexibility  •Employer‐owned  •More flexible underwriting than  individual products  •More flexible rates than individual  products •Group‐level rate increases •Ported or converted at higher rates •Minimum participation  requirements common Group  Products Individual  Products
  8. 8. Revenue and Agency Growth Block management and agency growth tools Voluntary practice leadership
  9. 9. Apply the  WIIFM Principle Deliver the Custom Experience • Cost management • Each client needs the help, but the help  they need is different • Streamlined administration • Strategies to simplify the benefits process • Flexible enrollments • Support from one end to the other When “Me” is Your Client
  10. 10.  Benefits plan redesign opportunities  Dependent verification/dependent audit  Section 125 implementation and ERISA compliance support  Customized benefits communication and education Cost Management Strategies
  11. 11.  Web-based services to conduct business online  HR assistance and plan administrator tools  Health care reform resources and support  Self-service capabilities  Ease of doing business/Back-end service model Streamlined Administration
  12. 12.  Local presence, national reach  Core and voluntary  Values cases of all sizes  Multi-site/multi-state  Bilingual capabilities Flexible Enrollments  Data collection, daily enrollment reporting, post- enrollment satisfaction analytics  First-year, new hires, annual re-enrollments
  13. 13. Apply the  WIIFM Principle Deliver the Custom Experience • Health & financial protection • Help them protect what they’ve worked to build • Clear communication • Improve understanding, increase  appreciation • Ongoing support • Accessible personal service tools,  effective use of technology When “Me” is the Employee  Millions of Americans are forced to take increased ownership  and responsibility for health and financial decisions for  themselves and their families.    Many are unprepared to make these decisions without help.
  14. 14. Recap: How can you transform your business with the WIIFM Principle? Ask yourself the  question for each  “me” in the  benefits process. Step 1 Leverage tools and  capabilities that  deliver the  custom experience. Step 2 Unlock the power of a custom  approach across  all levels of your  business.  Step 3
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