This BIG trend offers Group Benefit Insurers a great opportunity for growth and expanded customer relationships! The growing and complex regulatory changes and shift of employees working from home, either permanently or in a hybrid model, accelerate the demand for integrated disability and absence management to ensure compliance that helps reduce operational and legal risks. This value-added service from insurers’ formal integration between federal and state medical leave laws and related disability and health programs establishes them as leaders while differentiating them in a rapidly shifting marketplace, just as The Standard has done.
Managers’ lack of knowledge and understanding of employee leave regulations reflected in our most recent report, 2021 FMLA Knowledge Gap, create serious operational and business risk for them and their companies. Specifically, only 11% of managers fully understand FMLA and only 17% understand PFL, including whether they live in a state currently offering PFL. As such, more and more employers are turning to their insurance company partners who are already managing their disability programs to expand support to also manage their employee medical leave administration. Hence the rising demand in integrated disability and absence management as a “value-added service” to insurer’s employer customers.
But to offer this to their customers, insurers need a next-generation solution with robust capabilities that manage these complex processes in a cost-effective, yet customer-centric manner that delivers an improved employee experience.
This webinar will discuss the growing market demand, The Standard’s approach in elevating corporate programs with this highly valued service offering, and the software platform that underpins this opportunity.
Denise Garth - Chief Strategy Officer, Majesco
Ella Luce - Absence Management Consultant, The Standard
Lincoln Dirks - Senior Compliance Analyst for Absence Management, The Standard
Stacy Varney - VP Sales, Majesco