InsuranceMenu Platform for Small Business Customers
Delta Dental of Iowa has announced a partnership with InsuranceMenu, a digital platform that helps insurance agents and carriers automate and overcome barriers in the small business market. InsuranceMenu provides a digital, end-to-end experience from benefits quoting through employee enrollment, making it easier for small businesses to offer benefits to their employees.
Having a tool like InsuranceMenu allows small businesses to offer their employees a technology platform similar to a large company, reducing administrative burden for the small business employer. Consumers are also becoming more tech savvy and want an electronic enrollment solution. InsuranceMenu enables the employee to get information on their plan options and helps them make best benefit decision for their family.
“Iowa currently has one of the lowest unemployment rates in the country,” said Shaun Bennett, owner of Fulcrum Benefits, Inc. located in Urbandale. “In a competitive job market, we are finding our small business clients want to be able to offer the same benefits larger companies offer. Using InsuranceMenu gives us the ability to service more clients more efficiently.”
Since 2012, InsuranceMenu has revamped the quoting and enrollment experience in a digital platform that improves efficiencies for all including agents, carriers, small businesses and employees.
“After working with hundreds of small businesses and their agents, we learned you can’t address the needs of a company with 50 employees with the same technology footprint as a company with 1,000 employees,” said Nabil Aidoud, CEO and co-founder of InsuranceMenu. “We are focused on small businesses and the unique challenges they have when it comes to employee benefits. Working with agencies and carriers across the country over the last several years enables us to continue to improve the benefits process for small businesses from quoting through the enrollment process.”
“Delta Dental wanted to offer our agents and small business customers a more convenient, digital experience with self-service capabilities during the quote and enrollment process,” said Jeff Russell, president and CEO of Delta Dental of Iowa and president of Veratrus Health. “Insurance can be complicated and the InsuranceMenu platform offers a solution that makes it easier for agents, employers and employees to access ancillary benefits such as dental and vision insurance.”
In late 2017, Delta Dental began working with InsuranceMenu and is now offering the platform to select agencies that service the small business market. In addition, Delta Dental has made an investment in InsuranceMenu through its subsidiary, Veratrus Health. Delta Dental will be rolling out the InsuranceMenu platform to all agencies throughout 2019.
InsuranceMenu was born out of a legislative mandate passed in Massachusetts in 2010. A coalition of small business advocates and policymakers saw a real need to address rising healthcare costs for such a significant part of the labor force. InsuranceMenu co-founders Nabil Aidoud and Mason Harding were part of that team. The company was founded in 2014 to address these challenges within the small business market. InsuranceMenu started working with a leading agency in New England and a number of progressive insurers to design a new way of handling benefits for small business that took the unique needs of this market and brought a new innovative technology solution to enhance and empower the vital agent/employer relationship. InsuranceMenu was selected to participate in the 2017 Global Insurance Accelerator class.