San Francisco: Today, Zenefits announced the build-out of its Certified Broker Partner (CBP) program, a nation-wide network of forward-thinking benefits and insurance consulting firms. New members of the program include: NFP, The Horton Group, ABD Insurance and Financial Services, and The Capital Group.
Today’s news accelerates Zenefits broader strategy to solve one of the nation’s toughest challenges: simplifying how organizations with less than 500 employees — which make up 99.7% of America’s businesses — can connect their people to the right health, benefits and wellness solutions.
Zenefits launched its unique joint-investment partner program in September 2017. Inaugural partner, OneDigital, helped prove out this new tech-savvy industry model to deliver and support its own industry-leading client advisory services. OneDigital, and all of the new progressive brokers in the growing CBP program, are embracing Zenefits People Platform technology to advance their practices and make it even easier for small and mid-sized businesses (SMBs) to evaluate, select and manage employee healthcare and benefits options that best fit the needs of their modern workforces.
“The insurance market is being disrupted and we applaud the efforts of some of the country’s largest employers, like Amazon and Apple, who are attempting to galvanize their clout on behalf of their employees,” said Jay Fulcher, CEO and Chairman at Zenefits. “Zenefits, with the help of our broker and carrier partners, intends to democratize that kind of access and distribution for small businesses too — regardless of their individual purchasing power or location. Today, we are one step closer to leveling the playing field for SMBs.”
Delivering Digital Advantage and Better Access to Healthcare Options
The CBP partnerships are one lever enabling Zenefits to deliver even greater efficiency—via automated transmission of information and less paperwork —to key constituents in the healthcare value chain:
- SMB employees — 50% of whom are “digital natives” — expect apps that work like the ones they use at home. The modern workforce requires instant mobile access, choice of high quality, affordable options, plus the context to select healthcare and benefits that best meet individual needs. On average, it takes only nine minutes to make annual benefits selections using Zenefits, and it’s even easier to make changes to accommodate life events like the addition of a spouse or a baby, and to check balances in health accounts and payroll deductions – anytime, anywhere.
- SMB owners and HR leaders will have quick and mobile access to a broader selection of affordable health and wellness options. In addition, Zenefits’ BenConnect platform — available only through Zenefits Certified Brokers — creates a seamless, digital connection for brokers to ensure price quotes and insurance options, ACA compliance, and COBRA access. They can also sync benefits with payroll from this one app.
- New Certified Broker Partners (CBP’s) will benefit from exclusive access to Zenefits technology to ensure a better customer experience and employee engagement — all while completing benefits enrollment cycles in 80% less time. Unique quoting, proposal, enrollment and fulfillment technology combined with integrations to thousands of carriers, drives exponential operating cost improvements for everyone involved. In addition, CBP’s receive training, technology and process guidance, as well as dedicated Zenefits advisors to ensure collaboration from sales to implementation, enrollment to renewal. In addition to leveraging Zenefits powerful BenConnect administration app, they can also augment their services around the entire Zenefits People Platform, including HR, payroll and performance management solutions.
- Insurance carriers can enable a more efficient channel, improved market access and greater customer satisfaction due to better, more integrated coordination with brokers. With Zenefits’ employee system of record data, carriers also benefit from increased plan exposure, buy-up opportunities and instant enrollments. Carriers will benefit from a radically improved and tech enabled experience throughout the healthcare enrollment value chain.
In turn, Zenefits’ new broker partners are making shared investments to ensure the success and support of this robust integrated offering. The Zenefits platform gives the nation’s best brokers a digital advantage that Accenture reports will be the difference between insurance brokers staying relevant and stagnating in their markets.
“Last fall, we shifted from being a technology-powered insurance broker for SMBs to enabling a better experience for our customers through partnerships with the nation’s most trusted and influential insurance brokers,” said Colin Rogers, SVP and General Manager, Benefits Solutions at Zenefits. “The positive market and customer response we received with OneDigital as our inaugural partner is proving out this new model. We look forward to working with all of our new partners to create the foundation to fundamentally transform the healthcare experience for SMBs.”
Zenefits will immediately begin joint sales and support operations with its new Certified Broker Partners channel, all of which offer rich expertise, a progressive mindset and focus on superior client service, and a long track record as leaders in their respective markets.
“At NFP, we’re passionate about putting people first — our clients and our employees. We’re also excited about expanding our core competencies to embrace investment in and integration with innovative Fintech, HRtech and Insurtech companies,” said Ed O’Malley, EVP, Head of Insurance Brokerage and Consulting. “Partnering with Zenefits gives us another powerful technology platform to support our customers’ HR, payroll and benefits needs.” NFP will initiate its partnership with Zenefits across the Northeast region.
“Our customers recognize the importance of delivering strategic counsel, broad options and easy access to their employees across HR, benefits, and payroll,” said Ken Olson, President of The Horton Groups’ Benefits Solutions. “We chose to pair our consultative brokering insights with Zenefits’ unique Ben Connect and People Platform technology, to help our small and mid-sized customers easily connect, deliver, track and manage the options that matter to their teams.”