Artivatic, a player in the Insurtech sector, has launched a Data Analytics-focussed Employee & Group Health Benefit Placement System (EBHS) called ASPIRE HEALTH, designed to enable brokers, employers and carriers to better manage the entire employee benefit placement process through a centralised automated & shared system. This platform is an all-new category of enterprise software developed especially for brokers and carriers.
Employee health is critical to the success of all organisations, yet all employee benefit management systems belong to the dark ages, with manual processes that still function in silos. Even as brokers are saddled with these legacy processes that depend on manual collection of employee data and policy documents while forbidding online payment or product customisation options, over 90 per cent of employers depend on them to manage the latter’s employee benefit programmes. As a consequence, inordinate delays and errors occur regularly. Each function of the legacy platforms is time and labour intensive, and immensely error-prone. So while brokers and carriers are constantly busy all year round, it remains a case of ‘doing more, yet accomplishing less’. There is obviously a huge productivity gap here.
“With ASPIRE HEALTH, we recognise this productivity gap and know what’s lagging is an efficient way for brokers to collaborate with employers, carriers and vice versa; there should be one central way that empowers them to be more efficient, effective, and productive. We believe that the right solution can address this gap and pull the industry into the future. Hence, we developed the first AI-focussed EBHS to do just that. An EBHS that enables brokers and carriers to manage the entire placement process in one shared system, thus resulting in time and cost efficiencies,” says Layak Singh, Co-Founder & CEO of Bengaluru-based Insurtech startup Artivatic.AI.