Equitable Enhances EB360® Platform with Digital Onboarding
November 07 2023 - 9:00AM
Business Wire
Equitable, a leading financial services company and principal
franchise of Equitable Holdings (NYSE: EQH), announced today that
the company’s Employee Benefits business has enhanced its EB360®
platform by fully digitizing the benefits onboarding process for
benefits brokers and employers.
Each year as employers prepare for benefits open enrollment
season, their brokers spend countless hours filling out paperwork
and preparing documents for their employer clients to complete.
Brokers also need to deliver those documents to several insurance
carriers that work with their employer clients. This process is
often time consuming for brokers given the nuances of each carrier,
the amount of data they are required to collect for insurance
applications, and the potential for human error due to manual input
of data.
Equitable’s enhancements to its EB360® platform are designed to
mitigate some of these common pain points by fully digitizing the
benefits onboarding process for benefits brokers and employers.
“Our new digital onboarding solution goes beyond simply turning
a PDF into a fillable digital form,” said Stephanie Shields, Head
of Equitable’s Employee Benefits business. “We’ve examined the
areas that often cause the most friction during the onboarding
process and have created a reimagined experience for our brokers
and employers that facilitates greater transparency in the client
journey, increases the speed to onboard clients and improves the
accuracy of employer and plan information.”
Now, the digital enhancements to Equitable’s EB360® platform can
enable brokers’ employer clients to complete the insurance
application process in as little as 15 minutes, helping to reduce
errors that cause service and administration issues.
“The goal is to take a complex transaction and make it an
intuitive, digital-driven experience for brokers, employers and
ultimately, their employees,” said Alyssa Arellano, Head of
Technology Strategy for Equitable’s Employee Benefits business.
“Without cumbersome legacy systems, Equitable is able to quickly
make technology design and process improvements based on real-time
feedback from our team and our customers.”
According to the LIMRA and Ernst & Young 2023 Workforce
Benefits Study1, two-thirds of small organizations,
70% of midsize employers and 73% of large employers say they will
rely more heavily on carrier-provided technology in the next five
years.
“With more employers expected to depend on carrier-provided
technology in the coming years, we believe benefits brokers will
prioritize working with employee benefits carriers that are making
the technology investments necessary to drive administrative
efficiencies and create richer service experiences,” added
Arellano.
Equitable’s Employee Benefits business is focused on small- and
medium-sized businesses, with a core suite of insurance products
including group dental, vision, life insurance, short-term and
long-term disability, as well as supplemental health offerings,
including accident, critical illness and hospital indemnity.
Products are offered through Equitable Advisors and third-party
distributors, including national, regional and local brokers.
For more information about Equitable’s digital onboarding
solution, please watch this brief video.
About Equitable Equitable, a principal franchise of
Equitable Holdings, Inc. (NYSE: EQH) has been one of America’s
leading financial services providers since 1859. With the mission
to help clients secure their financial well-being, Equitable
provides advice, protection and retirement strategies to
individuals, families and small businesses. Equitable has more than
8,000 employees and Equitable Advisors financial professionals and
serves 2.8 million clients across the country.
Equitable is the brand name of the retirement and protection
subsidiaries of Equitable Holdings, Inc., including Equitable
Financial Life Insurance Company (Equitable Financial) (NY, NY),
Equitable Financial Life Insurance Company of America (Equitable
America), an AZ stock company, and Equitable Distributors, LLC.
Equitable Advisors is the brand name of Equitable Advisors, LLC
(member FINRA, SIPC) (Equitable Financial Advisors in MI and
TN).
All group insurance products are issued either by Equitable
Financial Life Insurance Company or Equitable Financial Life
Insurance Company of America, which have sole responsibility for
their insurance and claims-paying obligations. Some products are
not available in all states. EB360® is a registered
mark of Equitable Holdings, Inc., NY, NY.
GE-6008486.1(10/23) (Exp.10/25)
1 “Harnessing growth and seizing opportunity,” The LIMRA-EY 2023
Workforce Benefits Study, (July 2023).
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Media Monique Freeman mediarelations@equitable.com (212)
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