Artivatik, an insurance tech firm, has launched a data analytics-focused employee and group health benefits placement system (EBHS), called Aspire Health, that allows brokers, employers and carriers (insurance companies) to streamline the entire employee benefits placement process. Designed to enable us to manage optimally. A centralized automated and shared system.
According to Artivatik, employee health is critical to the success of all organizations, yet all employee benefits management systems belong to the Dark Ages with manual processes. Even as brokers are troubled by these legacy processes, which rely on manual collection of employee data and policy documents while forbidding online payment or product customization options, more than 90% of employers opt for the latter’s employee benefit programs. depend on them for management. As a result, abnormal delays and errors regularly occur.
Lyak Singh, Co-Founder and CEO, Artivatik.AI, said, “With Aspire Health, we recognize this productivity gap and know what an efficient way for brokers to collaborate with employers, carriers and vice versa. Therefore, we have developed the first AI-centric EBHS that enables brokers and carriers to manage the entire placement process in a common system, thus resulting in time and cost efficiency.”
Singh said, “As a full-stack automated API-based business insurance platform, Aspire provides a bouquet of services to all its stakeholders at one place. On one hand, customers can create accounts, digitally without any help. Can engage themselves in systems to access policies, connect with third parties, access digital document vaults, file and track claims and settlements.Therefore, where users do all the transactions themselves from the safety of their homes Businesses, on the other hand, benefit from being able to digitally track employee welfare, endowments, claims, receipts, etc., while also being equipped to personalize insurance. Risks, occupation and location information based schemes.
This data analytics-driven system is expected to be a one-stop-shop for everything related to employee benefits. The company believes that it is a centralized automated, shared platform that provides SMEs with a unique option to efficiently connect with all insurance-related stakeholders on a single channel.
Singh further added, “Not just them, Aspire will also connect brokers, TPAs and insurance companies on this common, central system thus creating a multi-way digital platform for all stakeholders in the employee benefits programme.”
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