Group Insurance CPQ Vendor Analysis
Not all Group Insurance CPQ solutions are going to give you the same return on your investment. The data below is based on a independent analysis that was done by real brokers who were testing out platforms to try to find efficiencies (they were kind enough to share their real-world data with us). Your efficiencies may vary slightly depending on your internal processes and on which markets you serve.
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Availability in All 50 States | |||
Support for Small Group (ACA) Plans | |||
Support for Ancillary Plans | Limited | Limited Dental Only | All (via Quote Upload) |
Supports Mid-Market & Large Group Quotes | (via Quote Upload) | ||
Compare Current Plans to Renewal and Alternate Plans | ACA Only | ||
Employee Contribution Modeling | ACA Only | ||
Provides an overall cost comparison for each line of coverage | |||
Ability to Import Additional Proposals | |||
Generates Client-Ready Presentation | |||
Average Time to Generate Final Presentation | 5.5 hrs | 5.75 hrs | 1 hr |
Data from a real brokerage firm comparison
Zywave CPQ, Benefitter, and PerfectQuote all have the capability to pull quotes for fully insured medical coverage for small groups, but there are some key differences in how each platform handles alt/level-funded plans, ancillary plans, and their ability to compare plan renewals and alternatives.
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Obtain Fully-Insured Medical Quotes for Small Group | |||
Generate Base Rates for Small Group Alt/Level-Funded Medical Quotes | AllSavers Only | AFA Preliminary Only | |
Support for Alt/Level-Funded Plans in Final Presentation | AllSavers Only | AFA Preliminary Only | All (via Quote Upload) |
Support for Ancillary Plans in Final Presentation | Limited | Limited Dental Only | |
Generate Ancillary Quotes for Small Group | Limited | Limited Dental Only | All (via Quote Upload) |
Employee Contribution Modeling | |||
Age Table Rates Provided | Enrolled Members Only | ||
Compare Current Plans to Renewal and Alternate Plans | |||
Provides an overall cost comparison for each line of coverage | |||
Ability to Import Additional Proposals | |||
Generates Client-Ready Presentation | |||
Average Time to Generate Final Presentation | 5 hrs | 5.5 hrs | 1 hr |
Data from a real brokerage firm comparison
PerfectQuote was built to generate efficiencies, and nowhere are the benefits of our approach more obvious than for Mid-to-Large Market and Large Groups. That's why we say we support any carrier, any size group.
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RPFs Required For | All Lines | All Lines | All Lines |
Carriers Supported | All (via Quote Upload) | ||
Compare Current Plans to Renewal to Alternate Plans | |||
Provides an overall cost comparison for each line of coverage | |||
Generates Client-Ready Presentation | |||
Average Time to Generate Final Presentation | 6 hrs | 6 hrs | 1 hr |
Data from a real brokerage firm comparison
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Allows for Custom Branding | |||
Presentation Creation (Spreadsheet) | Manual | Manual | Automatic |
Presentation Export Client-Ready | |||
Software Presentation Tools | |||
Live Contribution Modeling |
Data from a real brokerage firm comparison
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One Integration (CRM or Enrollment) | $12,000 | $12,000 | $50,000 |
Two Integrations (CRM and Enrollment) | N/A | $24,000 | $100,000 |
Data assumes 1,000 employer groups and 1 ½ hour per group to refresh data in a single software platform (1,500 total hours per year), with an estimated total cost of $50,000 annually. Cost savings assumes a 60/40 split between Small Group and Mid-to Large Market groups, with 60% of time allocated to Ancillary data refresh.
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BenefitPoint | |||
Employee Navigator | Announced | Coming 2021 | |
SalesForce CRM | By Request | ||
Zywave Sales Cloud | |||
UnitedHealthcare Enrollment | |||
Proprietary Agency Systems |
Don't see your system here? PerfectQuote can integrate with any CRM, AMS, or Enrollment platform with a provided API. Contact us about custom integrations.
We may be biased, but we're not delusional – there may be situations where Benefitter or ZyWave is the better choice for your firm right now.
Benefitter is a free option, which is tempting – it's certainly going to provide efficiencies over a purely manual process. However it lacks full support for Ancillary quotes and does not support loading external quotes for comparison, meaning that the majority of your work will still be done manually in spreadsheets. It offers integration with its own enrollment tool, but lacks CRM or AMS integration. Furthermore, the enrollment integration is limited, resulting in a large chunk of work that will still have to be done manually.
ZyWave CPQ has been around for a while. Its key selling point is that it offers robust integrations, especially if you already use ZyWave products. Unfortunately because it doesn't support many Ancillary plans or Mid-to-Large Market groups, these integrations don't actually provide the value you might think, and manual spreadsheet creation and data entry will still be necessary for a large chunk of your clients. ZyWave CPQ is also 5.5x slower than PerfectQuote even on the Small Group presentations it supports (according to brokers we spoke with).
PerfectQuote was designed very carefully to generate the maximum efficiency possible in a world where quotes often come in disparate formats. The Quote Upload capabilities solve for the issues with alt/level-funded plans, Ancillary products, and Mid-to-Large Market groups. Combined with the robust comparison tools, it allows marketing specialists to compare and generate a quote with little-to-no data entry, reducing errors associated with data entry. Compared to manual spreadsheet processes, PerfectQuote is up to 10x faster – and compared to Benefitter and ZyWave, it's still 4x faster. It's the clear choice for any firm that wants to make their investment in quoting technology worth the effort.
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