As a health insurance broker, technology over the last 5 years has completely changed my job description. It’s drawn a large gap between those with and those without the knowledge. The tech savvy insurance brokers who understand the advancements are at least 10x more effective with their jobs. However, those without put their clients in a disadvantaged position. At the very minimum, this leads to delays in accessing ID cards, and enrollment delays. At most an employee might miss their expected start date for insurance and not have a major operation covered. Technology matters.
Brokers & Insurance Companies
One side of the equation is how much the broker can communicate with the insurance company. Almost every health insurance company now has electronic applications. Insurance companies approve these applications faster than paper applications. They have fewer errors, and they may provide ID card access online as well. A delay in the ID cards can delay a prescription fill up or a specialists visit. Being able to turn an application into an ID card quickly is one of our most important jobs. Without a tech savvy insurance broker this would be impossible.
Brokers & Clients
On the other side of the equation, most of our clients don’t want to use paper anymore. If they can complete a form online, this is more efficient than emailing, printing, penciling in and faxing. It’s also more accurate. There are no questions with handwriting, which is the #1 reason why ID cards don’t reach their destination. Also, incomplete information can cause unnecessary delays. We need to call back that employee, find out what their daughter’s social security number is, for example. The employer appreciates it as well. Instant access to how much to deduct from their paycheck based on the plan they chose.
The Big Picture
When we initially quote a group, our group health insurance quoting software is unbeatable. For most months of the year, we can provide same-day turnaround for group health insurance quotes. The quotes depend on the employee’s age, zip code, plan selection, and other factors. Calculated rates by hand, like we used to do 5 years ago, results in incorrect information and lost clients. It’s no longer an added feature to have a tech savvy insurance broker, it’s a requirement.