The Broker’s Dilemma: Why Aren’t More Carriers Stepping Up Their Game?
In today’s voluntary benefits market, brokers aren’t just simple matchmakers between carriers and employers. They’re expected to be trusted advisors, strategists, and tech-savvy problem-solvers to advise employers on the best offers — financially and technologically — for their company.
As a result, they’re scrutinizing carriers like never before.
So, if your technology is doesn’t serve the purposes needed, your processes are sluggish, or your enrollment is a headache, brokers will recommend a competitor who makes their life easier.
The days of clunky spreadsheets and paper trails are over. Brokers and employers are tired of dealing with core systems that require endless manual work to enroll employees, fix data errors, and process claims. They want carriers who can integrate seamlessly with their HR and payroll platforms, deliver seamless, digital self-service experiences, and automate administrative tasks.
This is why it’s not enough to have “good enough” products; you need to make them easy to sell, implement, and manage… which is where your technology comes into play.
The MACH Advantage: Why Brokers Love MACH-Based Core Systems
Carriers who want to dominate the voluntary benefits market need to be passionate about going digital. This goes way beyond giving people an online sign-in and letting people fill out enrollment forms on a screen instead of on paper.
Brokers and employers want benefits providers that embrace digital to the point that the basics of HR and payroll system integrations are child’s play, and they’re delighting both them and their employees with modern, personalized digital experiences where policies are easy to access and use.
Managing an individual’s record information or filing a claim should be easy, and not have to involve manual labor from an HR employee.
At EIS, we help insurers shed the constraints of outdated legacy systems with future-proof platform built for the real-time, interconnected world brokers and employers operate in.
Here’s why it matters, following each cornerstone of MACH architecture:
Microservices: Traditional, monolithic systems mean that even a small change, like adjusting an enrollment process, can take weeks. With microservices, each function operates independently, allowing for real-time updates without disrupting the entire system. Brokers and employers get a frictionless, responsive, always-improving system to work with.
API-First: Naturally, HR professionals must handle multiple platforms: from HR to payroll to benefits. An API-first approach ensures seamless integration, meaning they don’t have to deal with broken data flows, delays, or manual workarounds.
Cloud-Native: Scalability and speed are essential. Unlike on-prem systems that struggle to handle peak enrollment periods, a cloud-native system scales effortlessly, ensuring brokers and employers never deal with slow processing times or system crashes during periods of high activity, like enrollment.
Headless Architecture: Customization is key. Whether brokers need a branded portal, a specific employer integration, or real-time dashboards, headless architecture (an optional functionality) makes it possible to adapt the user experience without rebuilding the entire backend.
What This Means for Brokers & Employers
When carriers upgrade to modern core technology like EIS OneSuite, brokers get exactly what they need to confidently recommend a carrier:
- Fast, hassle-free implementation — No more weeks (or months) of integration headaches. APIs make data exchange smooth and reliable, and the Census and Enrollment Intake enhancement available from EIS makes everything even easier.
- Real-time data transparency — Brokers can instantly access policy details, billing updates, and claims status, reducing back-and-forth inquiries. They also get transparent reporting on their commissions, helping them make better business decisions as well.
- Frictionless enrollment and administration — Employers can onboard and manage benefits easily, increasing satisfaction and reducing churn.
- Seamless connectivity with HR platforms — No more manual data uploads; everything flows between systems effortlessly.
Go from Outdated to Outstanding: The Better Your Tech Stack, The Stronger Your Competitive Edge
The voluntary benefits market will soon only be good for carriers who can meet the rising expectations of brokers, employers, and employees.
A modern, cloud-based, API-driven platform isn’t just a nice-to-have; it’s the price of admission for insurers who want to win and retain broker partnerships.
At EIS, we make it easy for carriers to deliver seamless, future-proof experiences that brokers love. If you’re ready to make your technology your biggest competitive advantage, let’s talk.
Want to dive deeper into why better carrier admin technology is crucial for success with brokers?
Check out the white paper we published with Voluntary Advantage: The Importance of Carrier Admin Technology. It helps educate brokers on what to look for with carrier technology and functionality, and why it’s so important.
In today’s world, carriers who empower brokers win more business.
