2 Thursday 100 What the Future Holds for Voluntary ...€¦ · About Allstate Benefits Founded in...

Donna MorganSenior Vice President,

Enrollment Technology Solutions

Allstate Benefits

Voluntary Benefits& Technology Integration

About Allstate

3 | 2016 PlanSource Eclipse Conference

The Allstate Corporation

(NYSE: ALL) is the nation’s largest

publicly held insurer

for personal lines

Originally part of Sears, Roebuck and

Co., we became an independent public

company in 1995

One in every 8 U.S. households has an

Allstate product

Currently #89 in the Fortune 100 and well

known for our famous pledge:

“You’re in Good Hands with

Allstate”

Allstate Benefits

About Allstate Benefits

Founded in 1956 as American Heritage Life Insurance Company

Headquartered in Jacksonville,

Florida

Acquired in 1999 by The Allstate

Corporation

Now using the marketing name Allstate Benefits

4 | 2016 PlanSource Eclipse Conference Allstate Benefits

One of America’s Leading Voluntary Benefits Providers

Deliver value to our brokers and employers by providing leading

voluntary benefits solutions, through innovative products,

service and flexible enrollment

capabilities that integrate with employers’ core benefit strategy

Defend our leadership position and grow our market share in

the voluntary benefits market bystrengthening our valueproposition across all

customer segments

• Licensed in 49 states, DC, Guam, Puerto Rico and US Virgin Islands

• Rated A+ by A.M. Best

• Products top-rated by LIMRA & Eastbridge

• Protect four of the top ten US retailers

• Fastest growing company in the category for the last six years

• Our staff of approximately 1,000 is fully dedicated to voluntary benefits and there is no outsourcing of functions

• Powered by The Good HandsSM

- a brand employers and

employees alike already recognize, know and trust

• Flexible, innovative and creative approach to product development

– in response to the changing market and the needs of employers and consumers

5 | 2016 PlanSource Eclipse Conference

VISION

MISSION

Allstate Benefits

Driving Industry Growth

• The voluntary industry continues to grow at a steady pace, with overall sales increasing 3.6% from 2014 to 2015*

• Allstate Benefits achieved a 6% growth in new sales in 2015*

*U.S. Voluntary/Worksite Sales Report, Carrier Results for 2015; Eastbridge Consulting, April 2016

Allstate Benefits Total Written Premium %

Voluntary industry new business

premium

6 | 2016 PlanSource Eclipse Conference Allstate Benefits

3.6%

6.0%

Market Expansion Enrollment Solutions

Service ExperienceCompetitive Portfolio

Modernize Operating Model / New Growth Capabilities

• Collateral Redesign / POD

• ESR Online• Gateway Services

• EnrollMyWay

• Benefit Agent

• Account Implementation• Billing / Administration

• Customer Service Resource

• Call Center – CIT/IVR

• Claims

• New Group Accident product• Executive Critical Illness

• HSA compliant Hospital Indemnity

• Group Term Life / ER Paid

• Dynamic distribution• Canadian expansion

• Roadside Services• Small Business Initiative

• PinnacleCare

Corporate Strategic Priorities

Allstate Benefits7 | 2016 PlanSource Eclipse Conference

Best-In-Class Support and Service

• We always have the customer in mind when we make decisions,

design processes and handle daily tasks

• Our Sales, Underwriting,

Account Implementation and Marketing teams partner closely,

following a plan of action to ensure a smooth pre-enrollment

experience

• Post-enrollment, our Customer Care, Claims and Administration

teams are ready to provide exceptional service and careful

attention to detail

Allstate Benefits Circle of Service


Our Product Portfolio

• Accident

• Cancer

• Critical Illness

• Life

• Term Life

• Disability

• Supplemental Health

• Dental

• Vision

• Accident

• Cancer

• Critical Illness

• Life

• Term Life

• Disability

• Supplemental Health

• Heart/Stroke

• Term Life

• Short Term Disability

• Long Term Disability

Group Products Individual Products


True Group Products

Our Market Differentiators

Chicken Soup for the Soul Grief SupportMichael J. Fox

Foundation PinnacleCare Travel Assistance

The good hands are doing more than ever before.SM


Legal and Financial Services

American Cancer Society CarebookBreast Cancer

Awareness

Market Differentiators - Carebook

• Powerful online health management tool, providing a secure place to store important health information

• Accessed through a web portal, making your health information accessible 24x7 - whether during an emergency situation, while traveling, or when you’re going to a new health care provider

• Goes beyond simply storing information – also monitors the data and offers recommendations and guidance based on it


Market Differentiators - PinnacleCare

• We have an unprecedented partnership with

PinnacleCare that gives employers the opportunity to

offer concierge health advisory services along with

our industry-leading Group Voluntary Critical Illness

products or our new Enhanced Group Term Life


• Upon diagnosis of a covered critical illness,

PinnacleCare provides:

- Expert medical opinion/confirmation of diagnosis

- Research on diagnosis and treatment options

- Customized report identifying top local, regional or

national specialists

- Facilitated appointments with top specialists or

medical centers

- Gathering, organizing, and forwarding of key

medical records

- Virtual consultation for expert medical opinion,

as warranted

Research Expertise Access

PinnacleCare

Case Study

KimberlyWilliamsDiagnosis:CancerAge:51

“You wouldn’t believe the feeling to get a diagnosis like that…but then to realize that you’ve got the

coverage to pay for everything.”


Treatment:Amount paid by Major Medical: $132,807.00

Amount paid by her Allstate Benefits plan: $11,362.00

Patient’s responsibility: $3,000.00

A crisis averted

The Challenge


Products

Value-Adds Individual Consumers

Enrollment: Has changed

1980sIndividual agents meet

with consumers at their home

1990sEnrollment counselors engage with

employees, utilizing proprietary

laptop enrollment systems

2000sReal-time, employee facing

interaction with online

enrollment solutions


Distribution: Hasn’t changed


Brokers Employers Employees & Their Families

VoluntaryBenefits

DISTRIBUTION

The Role of Brokers

• Voluntary benefits provide additional revenue streams through expanded products/services

• Brokers are able to bring broader solutions to employers

• Employers need brokers more than ever to help them formulate their benefits strategy – then successfully deliver to employees

• Brokers need technology solutions to bring to employers


Benefit Brokers responsible for 60% of voluntary sales in 2015

(up 3% from 2015)*


The Need of Employers

• Employers understand they need voluntary benefits to attract/retain quality employees, but these products have to fit within their ecosystem of benefits

• With a diverse employee population, employers need products that address multi-generational financial protection needs

• Employers continue to focus on their core competencies and outsource most HR and benefit related activities

• Voluntary benefits provide valuable financial protection to an employer’s most important asset – their employees


Critical Illness sales grew 25% in 2015*


The Expectations of Employees

• Voluntary benefits have never been as relevant to individual consumers as they are today

• Employees expect employers to provide VB offerings as a core component of their overall benefits package

• Consumers need the ability to customize their benefits to fit their unique needs (Accident vs. CI vs. Life vs. Disability)

• Assume an online purchase experience – 24/7, mobile, education, gamification, instant gratification

*Kaiser Family Foundation, 2015


25% of non-elderly Americans don’t have enough liquid assets to cover a

mid-range deductible of $1,200/individual or $2,400/family*

Playing “Catch-up” Today


• We must give employers solutions that leverage their investments in benefits administration systems

Since 2011, Allstate Benefits has been developing enrollment solutions that integrate with employers benefits administration systems

• Success depends on our ability to deliver a business support model that aligns with a technology driven culture – product design, education, enrollment, claims, payment, and portability

Carriers must execute an enterprise level modernization strategy

• Investment in operational infrastructure

Allstate Benefits has grown our enrollment support team +200% in last 18 months; $4M+ annual investment, including dedicated team driving growth, integration and scalability with strategic technology partners

Avoiding Extinction Tomorrow


• Technology – mobile apps (Uber/Venmo), benefit/claims integration

• Products – speed-to-market, relevancy & access

• Data analytics – buying behaviors, integration with health & wellness programs

• Delivery – employees expect employers to include voluntary offerings as part of their core benefit; employers have a vested interest in ensuring employee financial welfare

• Regulatory alignment – data/technology standards, filing requirements, consumer oriented

Delivering On Our Promise of Financial Protection


BrokersEmployers

Employees & Their Families


We are the Good Hands®

We help customers realize their hopes and dreams by providing

the best products and services to protect them from life’s

uncertainties and prepare them for the future.

Thank You

2 Thursday 100 What the Future Holds for Voluntary ...€¦ · About Allstate Benefits Founded in...

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