Integrated Group Enrollment Platform for Defined and Supplemental Insurance Products
Group Enrollment platform provides portals for Employer Groups, Employees, Administrators and Agents to facilitate streamlined Enrollment, Underwriting and Rating for members to Defined Benefit/ Defined Contribution and Voluntary/ Supplemental plans
STEP Solutions Group today announced the release of Group Enrollment functionality that provides portals with workflow, document and task management capabilities for groups offering defined benefit/defined contribution plans along with supplemental benefits during the open enrollment period. The STEP group enrollment functionality extends the STEP “Product Configuration” to allow product / plan definitions from different carriers and different product lines to be assembled into a cafeteria plan that can be offered to group members from Employer Groups or Affinity groups.
The cafeteria plans in the STEP Group Enrollment module inherit the product characteristics such as e-applications, e-signatures, reflexive questionnaires and automated underwriting from the STEP new business platform. These features when combined with the rules based STEP underwriting engine, enable plan options from the same product group offering to be underwritten separately based on the Underwriting parameters for the plan option. In addition, individuals within the same employer or affinity group can be risk-assessed on an individual basis. The individualized risk assessment can be automated to a large degree using the straight-thru-processing and reconciliation of applicant data with the external data sources such as MIB, MVR, Identity, Rx and Credit/Financial data.
Portals for Employer Administrators, Third-Party-Administrators, Carriers and Agents facilitate the entire process based on template workflows for Group Enrollment. Group members can be invited electronically to enroll during specified enrollment periods or have access to the enrollment/self service options based on any life events.
Utilizing the Group Enrollment product templates, Group Benefits administrators and carriers can configure and deploy their Group products on the STEP SaaS (Software as a Service) web platform within 12-16 weeks.