HR Software speeds supplemental insurance acquisition.
Press Release Summary:
My EOI(TM) (Evidence of Insurability) XML Secure Instant Data Exchange automates EOI processing for various optional employee insurance types. It links employee needing supplemental insurance immediately to required insurance company form on web page that automatically opens on vendor site. Tailored to meet needs of HR department or specific insurance company, HR Taskpad oversees entire process and triggers each step in appropriate order.
Original Press Release:
My EOI(TM) - New Evidence of Insurability Secure Instant Data Exchange
ARLINGTON HEIGHTS, Ill., Feb. 26 -- Offering employees optional insurance coverage is a valued benefit, but administering the enrollment, approval issues and payroll deductions can be cumbersome and time consuming and may be perceived by employees as an inefficient process. Benefit Express, a leader in outsourced Human Resource solutions, just launched its "My EOI(TM)", an Evidence of Insurability (EOI) XML Secure Instant Data Exchange that will be used to automate EOI processing for many types of optional employee insurance such as life, supplemental LTD, supplemental STD, supplemental accident or personal accident.
The "My EOI(TM)" will link the employee needing supplemental insurance immediately to the required insurance company form. The form will be on a Web page that automatically opens on the vendor site, allowing the employee to complete the form online and start processing the request almost immediately. The online system also allows for asking any questions online and getting instant answers. This XML feed is estimated to reduce the election approval cycle from 90 days to 30 days.
"Generally the EOI process is extremely paper intensive and the automated "My EOI" is a way to reduce manual processes. This lets Human Resource professionals focus on employees while we deal with this electronically and avoid the paper process," said Maria Bradley, president and managing director of Benefit Express. "We don't know of any other company able to accomplish this and because we have always been a technology-forward company we are able to trail blaze in this new area."
Key to the success is Benefit Express' HR Taskpad that serves as the 'Mission Control" for the entire enrollment process. The HR Taskpad automatically oversees the entire process and triggers each step in the appropriate order. The steps can be tailored to meet the needs of the Human Resources department or a specific Insurance company, but can include:
-- Verify EOI form is needed
-- Alert employee that from is needed
-- Verify EOI form is completed
-- Verify Insurance vendor has approved or declined coverage
-- Update the employee record.
-- Verify the payroll deduction is correct
About Benefit Express:
Benefit Express focuses on solutions for the administration of Human Resources/benefits programs. With the company's My Benefit Express(TM) self- service platform, clients have direct access to customized content delivery, enrollment assistance, employee benefit education tools, transactional administrative processing/tracking, carrier billing reconciliation, vendor data-links and detailed HR reporting."
CONTACT: Maria Bradley, CEBS of Benefit Express, +1-847-637-1551, or Mbradley@mybenefitexpress.com
