How to Choose the Right Benefits Quoting Platform for Your Agency

Choosing the right benefits quoting platform for your agency is crucial to ensure efficiency, value, and a positive return on investment (ROI) for your team. There are numerous options available, so it’s essential to ask important questions to ensure that the platform meets your specific needs. 

Below are 5 key questions to consider during the evaluation process.

5 questions to ask vendors about their benefits quoting platform

1. Which carriers, group sizes and markets does the quoting platform support? 

Different quoting tools cater to various markets and group sizes. Some platforms focus on large group or self-insurance, while others are more regionally oriented. Some may claim they work directly with carriers, but the list of carriers is very limited and may not include important states. The majority of quoting solutions only support small group medical and are unable to support ancillary carriers as part of the renewal process or spreadsheet presentation. 

It’s important to assess whether the platform supports the carriers you work with and provides rates and plans suitable for your target market. Choosing a platform that is too narrow in scope may result in additional manual work and hinder the expected efficiency gains. 

2. What type of renewal presentation does the vendor provide? 

Renewals are complex and require a comprehensive data presentation. Evaluate whether the quoting platform offers editable, dynamic, and branded spreadsheet presentations to facilitate a streamlined renewal experience. A static PDF presentation may limit your ability to customize and adapt the content to your specific needs.

3. Is the vendor selling you solutions that are in production or on a roadmap?

Technology in the quoting space is continuously evolving. Determine if the vendor has invested in their solution and if there have been significant updates since its inception. Some vendors may focus on future plans and exciting features on their roadmap, but if their current deliverable lacks the necessary capabilities, it may not provide the immediate value you seek. 

4. Is the quoting platform stand-alone or embedded in an AMS system? 

Integration with your existing agency management system (AMS) sounds efficient. However, while many claim such integrations exist, it’s important to verify the depth of the integration. Ensure that the systems are genuinely interconnected rather than just sharing a logo. A fully integrated solution will enhance efficiency, eliminate duplicate data entry and provide a holistic view of your agency’s operations.

5. What onboarding training and customer support does the vendor provide? 

During your evaluation, inquire about the platform’s onboarding and training process. A thoughtful onboarding program is essential to ensure that your team can effectively utilize the platform’s features and maximize its potential. 

Additionally, consider the availability and quality of customer support. A responsive and knowledgeable support team can provide valuable assistance when you encounter any issues or require further guidance. 

Choosing a best-in-class quoting platform

At PerfectQuote we strive to provide a best-in-class solution that is comprehensive and reliable, and secure. What does this mean for you? 

Support your entire book of business

PerfectQuote delivers ACA small group medical for all 50 states as well as alt-funded plans from medical carriers, including Aetna Funding Advantage (AFA). PerfectQuote also supports large-group, fully insured medical plans. 

Additionally, PerfectQuote seamlessly incorporates ancillary products with direct partnerships with carriers and with our proprietary carrier proposal quote reader tool. This eliminates the need for manual data entry or populating spreadsheets. With an accuracy rate of 100%, agencies leverage the quote upload tool to shave hours off the process.

Customize a flexible platform to your needs

PerfectQuote not only allows you to quickly curate a custom renewal package for your employer group but also provides flexibility in the presentation output. While many agencies are using the platform for virtual, electronic renewals, PerfectQuote also delivers an editable spreadsheet with embedded Summary of Benefit and Coverage (SBCs) and working formulas. If you require a custom-branded spreadsheet, that option is also available.

Contribute to future developments

We recognize the importance of continually evolving and improving our platform and much of our roadmap is determined by the feedback from our customers. However, we take pride in being transparent regarding our current and future feature sets or limitations we have in some states or with some carriers. By focusing on what is in production, agencies know exactly what they are paying for and get immediate value from the platform.

Integrate with tools you need to run your business

PerfectQuote carefully selects the vendors we partner with and establish integrations. We recognize the value of integrations. Unlike being part of an agency management system’s portfolio, we have the autonomy to make thoughtful decisions based on our customer’s requests for integration partners. We’ve also learned that integrations are complex and require oversight and ongoing maintenance to ensure data integrity. 

Access a team of insurance professionals

While our platform brings efficiencies and accuracy to the quoting process, it is PerfectQuote’s service team that truly sets us apart. Our team consists of skilled insurance specialists who are dedicated to providing excellent support and expertise. Each member has a strong background in insurance sales, or specialized in quoting benefits. 

This wealth of knowledge enables us to provide tailored guidance and support to address our customer’s specific needs. We provide comprehensive onboarding, which includes a combination of online training courses and personalized, live training sessions.

Meet your benefits quoting needs with PerfectQuote

Selecting the right benefit quoting platform for your agency requires careful consideration. By asking these important questions, you can evaluate various options and ensure that the chosen platform aligns with your agency’s specific needs and goals.