Group Health Life and Benefits Brokers can leverage PerfectQuote's Digital Quoting Platform to receive underwritten quotes directly from Principal Financial Group®.
PerfectQuote has announced a collaboration with Principal Financial Group to provide direct, underwritten proposals for dental, vision, life, disability, and voluntary benefits through its RFP toolset. PerfectQuote's platform serves 14 of the top 20 largest U.S.-based firms and nearly 80,000 employers. The platform has demonstrated success since its 2018 launch by streamlining quoting processes and reducing close times by up to 95%. The collaboration aims to facilitate digital distribution at scale while providing reporting insights for carrier sales and underwriting teams.
PerfectQuote ha annunciato una collaborazione con Principal Financial Group per fornire proposte dirette e assicurate per benefit dentali, visivi, sulla vita, di invalidità e volontari attraverso il suo set di strumenti RFP. La piattaforma di PerfectQuote serve 14 delle 20 più grandi aziende statunitensi e quasi 80.000 datori di lavoro. La piattaforma ha dimostrato il suo successo sin dal lancio nel 2018, semplificando i processi di quotazione e riducendo i tempi di conclusione fino al 95%. La collaborazione mira a facilitare la distribuzione digitale su larga scala, offrendo al contempo analisi di reporting per le vendite di compagnie assicurative e i team di sottoscrizione.
PerfectQuote ha anunciado una colaboración con Principal Financial Group para proporcionar propuestas directas y bajo suscripción para beneficios dentales, visuales, de vida, por discapacidad y voluntarios a través de su conjunto de herramientas RFP. La plataforma de PerfectQuote sirve a 14 de las 20 empresas más grandes con sede en EE. UU. y a casi 80,000 empleadores. La plataforma ha demostrado su éxito desde su lanzamiento en 2018, optimizando los procesos de cotización y reduciendo los tiempos de cierre en hasta un 95%. La colaboración tiene como objetivo facilitar la distribución digital a gran escala, al tiempo que proporciona información de informes para los equipos de ventas y suscripción de las compañías aseguradoras.
퍼펙트쿼트는 프린시펄 파이낸셜 그룹과 협력하여 RFP 도구 세트를 통해 치과, 시력, 생명, 장애 및 자발적 혜택을 위한 직접적이고 보장된 제안을 제공한다고 발표했습니다. 퍼펙트쿼트 플랫폼은 미국 내 최대 20개 기업 중 14개에 서비스를 제공하며, 거의 80,000명의 고용주를 보유하고 있습니다. 이 플랫폼은 2018년 출시 이후로 인용 프로세스를 간소화하고 마감 시간을 최대 95%까지 단축하여 성공을 거두었습니다. 이 협력은 대규모 디지털 배급을 촉진하고 보험사 영업 및 언더라이팅 팀을 위한 보고 통찰력을 제공하는 것을 목표로 하고 있습니다.
PerfectQuote a annoncé une collaboration avec Principal Financial Group pour fournir des propositions directes et souscrites pour des avantages dentaires, visuels, de vie, d’invalidité et volontaires via son ensemble d'outils RFP. La plateforme de PerfectQuote sert 14 des 20 plus grandes entreprises basées aux États-Unis et près de 80 000 employeurs. La plateforme a démontré son succès depuis son lancement en 2018 en rationalisant les processus de devis et en réduisant les délais de conclusion jusqu'à 95 %. La collaboration vise à faciliter la distribution numérique à grande échelle tout en fournissant des analyses de reporting pour les équipes de vente et de souscription des assureurs.
PerfectQuote hat eine Zusammenarbeit mit Principal Financial Group angekündigt, um direkte, unterzeichnete Angebote für Zahn-, Augen-, Lebens-, Invaliditäts- und freiwillige Leistungen über das RFP-Toolset bereitzustellen. Die Plattform von PerfectQuote bedient 14 der 20 größten US-amerikanischen Unternehmen und fast 80.000 Arbeitgeber. Die Plattform hat seit ihrem Start im Jahr 2018 Erfolg gezeigt, indem sie die Angebotsprozesse optimiert und die Abschlusszeiten um bis zu 95 % verkürzt hat. Die Zusammenarbeit zielt darauf ab, die digitale Verteilung in großem Maßstab zu erleichtern und gleichzeitig Berichtsinformationen für Vertriebsteams und Underwriting-Abteilungen der Versicherungsträger bereitzustellen.
- Platform serves 14 of top 20 largest U.S.-based firms
- Services approximately 80,000 employers through the platform
- Reduces quote closing times by up to 95%
- Enables streamlined digital distribution at scale
- None.
Insights
This partnership between PerfectQuote and Principal Financial Group represents an important operational efficiency improvement, but its immediate financial impact is likely minimal. While the collaboration streamlines the quoting process for Principal's insurance products, potentially reducing costs and improving sales efficiency, it's primarily an incremental enhancement to existing distribution channels.
The integration with PerfectQuote's platform, which serves 14 of the top 20 U.S.-based firms and reaches 80,000 employers, could help Principal capture more market share in the group benefits space. However, the revenue impact will take time to materialize as adoption grows. The 95% reduction in close times is impressive but represents an operational rather than direct financial metric.
With a critical mass of firms and general agencies leveraging the PerfectQuote platform (including 14 of the top 20 largest
"At Principal, we're committed to offering innovative solutions that bring value to our distribution partners and customers," said Kara Hoogensen, senior vice president for benefits and protection at Principal®. "By working with the PerfectQuote RFP toolset, our distribution partners are able to streamline their processes and serve customers efficiently and accurately."
Since the 2018 launch of the platform, PerfectQuote successfully provided brokers the ability to streamline their quoting processes for employer group clients of all sizes by eliminating and automating many manual error-prone tasks, reducing close times by as much as
"We believe PerfectQuote is the leading solution provider in its category, continuously resetting the standards by which other solutions try to meet. From robust and powerful application tools to leveraging our excellent customer service, PerfectQuote allows for our customers and partners to set themselves apart in their respective market segments," said Aaron Snyder, President and co-founder of PerfectQuote. "We are excited to work with Principal, one of the most popular and tech forward insurance carriers in the country; this relationship will be key to digitally transforming an industry that has been slower to modernizing the distribution of group health insurance."
About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial company with 20,000 employees1 passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we're helping more than 68 million customers1 plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of the 2024 World's Most Ethical Companies2, a member of the Bloomberg Gender Equality Index, and named as a "Best Places to Work in Money Management3." Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.
1 As of September 30, 2024
2 Ethisphere, 2024
3 Pensions & Investments, 2023
Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/-dealers. Referenced companies are members of the Principal Financial Group®,
About PerfectQuote®
PerfectQuote is an
Media Contact: Aaron Snyder, aaron@perfectquote.io
View original content:SOURCE PerfectQuote, Inc.
FAQ
What benefits can brokers quote through PerfectQuote's platform with Principal Financial Group (PFG)?
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What improvement in close times has PerfectQuote achieved since its 2018 launch?
