New Principal online enrollment tool turns benefits selection into a personalized shopping experience for employees
The Principal Financial Group® unveiled its new online enrollment tool that allows businesses to easily set-up their benefits enrollment site within minutes using employee census data. Employees selecting their benefits add them to an online shopping cart, just as they would on other shopping sites. This new approach helps cut the time it takes for employees to make benefit decisions and feel more confident about their future.
A key differentiator for this patented platform is the influence of financial psychology and behavioral economics to empower people to make wise and educated decisions on their benefits. By incorporating a brief, two-minute diagnostic questionnaire, employers can quickly connect employees to personalized options that best fit their unique needs.
“It comes down to blending what we know about how people process financial decisions with how we can deliver an experience that encourages productive decision-making,” said Amy Friedrich, president, U.S. Insurance Solutions division of Principal®.
Through the online enrollment tool, employees have access to our comprehensive portfolio of benefit options. This includes life insurance, dental, managed care vision, long-term disability, short-term disability, accident, and critical illness insurance.
After seeing their recommended benefit options, employees select the benefits they feel are right for them and add them to an online shopping cart. They can review and make changes right from with the shopping cart. This ease of use is especially valuable when there is a limited enrollment window.
The new Principal online enrollment tool is the latest in a growing suite of customized digital platforms. There’s no additional cost to the employer for using the Principal online enrollment tool. Whether a very small employer or a big business, it’s all part of the Principal standard process for getting employees enrolled in their benefits.
“Our online enrollment tool takes benefit enrollment a step further,” said Friedrich. “It provides a personalized experience that aligns with the employee’s preferences, and offers up recommendations that can help them meet their specific needs.”
Watch a brief video to learn more about how the Principal online enrollment tool can turn a sales process into a shopping experience. As enrollment season heats up, employers interested in the Principal online enrollment tool should contact their local Principal sales representative.
Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals–offering innovative ideas, investment expertise and real-life solutions to make financial progress possible. To find out more, visit us at principal.com.
Insurance from Principal is issued by Principal Life Insurance Company, Des Moines, IA 50392.
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