Administrative burdens can be a challenge for employers, especially for small and midsize businesses that don’t necessarily have the same access to resources as their larger counterparts.
That’s why Prudential has teamed up with ADP Workforce Now to provide its midsize employer clients with digital-first resources to help alleviate the time-consuming tasks that come with benefits and disability administration, onboarding new employees and enrollment. This is the first time Prudential is catering specifically to a smaller size employer population.
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“We’re looking to provide something to these clients that they may not have otherwise received,” says Cassandra Schmidt, vice president of platform integration at Prudential Group Insurance. “We’re focused on three key areas that will reduce the time and effort for the employer and will make access to employee benefits easier for the employees through a digital experience.”
First, the new program will simplify the process of onboarding any employer who is already a mutual client of both ADP and Prudential.
“Currently it’s a manual process that can take months for a plan design and rate to be uploaded into the ADP system,” Schmidt says. “This capability will allow Prudential to push our plan design and rates directly into the ADP platform. The outcome that we're looking to achieve here is to reduce onboarding time from months to weeks.”
The second capability Prudential is leveraging through this partnership is an enrollment API. This is meant to reduce the costs typically associated with electronic data interchange between organizations; since Prudential’s products are now integrated into the ADP Workforce Now platform, there would be no fee for the exchange of data.
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“In most scenarios, the ongoing exchange of file feeds for clients of this nature would be weekly,” Schmidt says. “So what this solution will allow us to do is eliminate the need for those ongoing exchange of files. In addition to that, the data will be exchanged in real time, meaning Prudential will be able to [immediately] produce accurate invoices for our clients.”
The third capability is an evidence of insurability API solution. Evidence of insurability, or EOI, is when an employee must provide proof they are in good health qualifying for certain types of coverage, like life insurance.
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“Currently, our clients would have to leverage either a paper process or a standalone EOI solution, and obviously this is very outdated,” she says. “Prudential’s EOI Connect allows employees to click a link within the enrollment experience, with no additional usernames, account setup or passwords required, and they'll be sent directly into our online experience to answer a few simple questions — and 74% of the time, those applicants are instantly approved.”
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By integrating Prudential’s solutions into the ADP platform, employers will only have to deal with one access point, while employees will have all the benefits information they need in one easy to access location.
“The relationship between Prudential and ADP is deepening,” Schmidt says. “By expanding the solutions that we’re able to provide to those middle market employer groups we’re providing something to these clients that they may not have otherwise received. We have an aspiration to deliver those supercharged experiences with real time connections.”
