Voluntary and ancillary benefits are growing. As an insurance carrier, your product offerings are becoming more complex, and entering into strategic partnerships to provide a more robust set of benefits just adds more complexity for individuals and groups as they shop for benefits. You don't want them questioning what they're getting when it comes time to pay their bill. Not only does it hurt your customer satisfaction rating, it can also lead to costly inefficiencies within your business. By offering Consolidated Billing®, you can provide customers an additional service while optimizing business processes to increase cash flow and reduce days sales outstanding.1
Today, your customers expect to pay pills online and want their benefits to be more like Amazon.2 It's your job to make the process easy to navigate and understand. Consolidated Billing® enables you to do just that by providing your customers – group or individual – the ability to view the total amount due and pay for all their benefits through a single user login. This requires coordination across each partner carrier involved but the result creates an enormous sticky-factor for a customer who is currently trying to sort out a mix of bills for their benefits across various websites and paper processes.
Think of online billing as a service you are providing to your customers to accommodate their varying needs. In addition, you get five bonus effects from reducing the manual processing required as a carrier: