Willis North America’s Human Capital Practice, a unit of
Historically, in Willis’ view, incorporating Voluntary Benefits onto an ERP system was complicated and required either a significant internal investment of IT time to build out, or a link to a third-party enrollment platform. In addition, all data – file feeds, dependent eligibility files, deduction files, etc. – had to be transferred outside the ERP, which can expose the process to error and security liability. Many employers simply could not get past these challenges.
Benefits X-ChangeApp is the first application to incorporate all aspects of benefits enrollment into a concurrent, automatic process. The application can be deployed during open enrollment, qualified life events, or standalone enrollments. It leverages the strength and communication capabilities of an organization’s ERP as the system of record to provide employees with secure, real-time access to voluntary benefits. The ERP controls the eligibility and events, while the application establishes a real-time connection with carriers’ online underwriting and policy management databases allowing the carrier to maintain rates, rules, and compliance. Employee data never leaves the security of the ERP system. Benefit elections and modifications are processed in seconds rather than days, and back-end administration is simplified.
Benefits X-ChangeApp is currently available for employers using PeopleSoft for their
“This is an exciting development. Willis is the first to provide employers with a unique solution that eliminates the historical challenges associated with offering Voluntary Benefits programs. The reality is - our clients live in a world where they are required to do more with less, but they also recognize the importance of providing their employees coverage options. Voluntary benefits are an important component of a well-designed employee benefits package. We are seeing a steady increase in the number of employers focused on providing coverage options to their employees and we expect this trend to continue,” said
Benefits X-ChangeApp also enhances the enrollment process for employees, providing a single source for enrollment of all health and financial benefits within the ERP. Each employee is provided with customized voluntary benefit choices based on demographic and compensation data. In addition, the application can integrate decision support, communication, and education materials to assist employees in making more informed choices. The application can provide employee claim modeling, and customizable videos to provide brief, easy to understand product overviews.
# # #
Read the full story at http://www.prweb.com/releases/2012/9/prweb9900384.htm
|Copyright:||(c) 2012 PRWEB.COM Newswire|