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Platform providers are becoming more prevalent and important to the voluntary ecosystem, and it’s important that producers understand how the services may impact the broker-employer relationship. (Image: Shutterstock)Technology is becoming more critical each day to a broker’s success in voluntary benefits. One technology trend that producers must navigate is the prevalence and growth of “platforms.”
This catch-all term has become synonymous with enrollment systems, exchanges, benefit administration, and consolidated billing systems. Even some payroll processors are developing tools in this category, extending their portfolio of employer services. These platform providers are becoming more prevalent and important to the voluntary ecosystem, so it’s important that producers understand how the services that these companies offer to employers, as well as how they approach them, may impact the broker-employer relationship.
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