ASPIRE Health is AI focused FIRST Employee Benefit & Group Health System (EBHS), a new category of enterprise software for brokers, carriers & employees. EBHS enables brokers and carriers to manage the entire placement process in one shared system.
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Maker
While the broader insurance market has been notoriously slow to modernize, the employee benefits market in particular is ripe for a new technology backbone: arranging employee benefits requires employers, benefits brokers, and multiple insurance carriers to exchange information & iterate. But, historically, there has been no shared system to bring these groups together. Hundreds of billions of dollars in annual benefits spend is arranged via email and spreadsheets.
Employee health is a critical for every organization to ensure their health & family protection with their health well being. Employee are the backbones for any organization and better health of employees provides better productivity and hence better ROI.
When it comes to buying, selling, and even managing employee benefits, an old adage hits too close to home: the only consistency is inconsistency. Today’s processes are not only entirely manual, but also managed through siloed systems. This is especially true when you’re placing insurance coverage.
>90% of the organization /employers take help from brokers to manage their employee’s benefit programs. These programs can include medical, dental, vision, and other health, doctor consulting, OPD, family protection and wellness offerings. This is also because Carriers systems are brokers too and hence not only manual, delays but there is 100% inefficacy in the process.
There are many issues exists in the process:
Problems:
Insurance businesses finds it difficult to manage SME/Business customers
SME/Businesses have no process, systems where they can buy insurance, file claims, upload required documents by themselves
There is no option to make payment online, no option to customize products
Insurance companies delay in processing insurance, issuing policy documents, losses revenue and more tracking the risks of businesses for better insurance. It takes average 15-30 days
Manual process leads to difficult communication, issuance, payment, claims, quote and more.
To provide their employer clients the best options, brokers collect spreadsheets of employee demographic data and PDFs of policy documents to send to insurance companies.
Insurance companies review each document manually, reach out to brokers for missing details (somehow something is always missing), and put together quotes for the upcoming year’s plan.
Quotes come in as extensive, text-based documents, which brokers review to manually copy important insights into another spreadsheet to help their clients choose the best plan.
The whole process is hyper-customized, time-consuming, and error-prone.
And it takes place throughout the year, as benefits are renewed or new options are explored. Brokers and carriers are in a constant state of busy—doing more, yet accomplishing less; experiencing frustration and burn out. At ASPIRE HEALTH, we call this the productivity gap. What’s been missing is a meaningful way for brokers and carriers to collaborate; a way to enable them to be more efficient, effective, and ultimately productive.
We believe that the right solution can address this productivity gap and pull the industry forward. We built the AI & Data Analytics focused first Employee Benefit & Group Health System (EBHS), a new category of enterprise software for brokers and carriers, to do just that. A EBHS enables brokers and carriers to manage the entire placement process in one shared system. To be successful, a EBHS must have three core features:
Purpose-built. There’s so much nuance in our industry. This is especially true in the mid-to-large market, where custom underwriting is required on every client. An effective EBHS accounts for the specific workflows and dynamic relationships across stakeholders—brokers, carriers, third-parties, and the client.
Supports the entire placement process. Whether collecting a renewal or marketing for new business, a EBHS addresses end-to-end needs: from data collection to underwriting review and client presentation to implementation.
Serves as a true shared system. A EBHS is one system that provides real-time, shared visibility and enables brokers and carriers to deliver the best possible outcomes for their mutual clients.
ASPIRE HEALTH by ARTIVATIC is proud to provide a MODERN & AUTOMATED PLATFORM FOR EMPLOYEE & GROUP HEALTH BENEFITS.
ASPIRE HEALTH is aimed to drive better outcome, efficiency, standardization, simplification, and connecting as Shared Platform for brokers, carriers, TPAs, 3rd Parties and customers (SMEs, Businesses etc.) to on one Unified Platform.
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Maker
@lsvimal Thanks for the mention. It is surely a good product for insurance carriers, brokers and employees to solve their pain points.
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Aspire health is user friendly great AI driven automated platform which enables smooth enrollment for group health employees.
Its AI driven technology helps quick quotation generation which eases the process for Brokers and insurance companies
It also is highly effective in providing all updates and status wrt claims in 1 go along with smart analytics attached to it.
Theres nil hassle of individually keeping track of customer and requirements pertaining to their claims as this platform automatically sends notifications which again eases the process
These above features overall makes Aspire health an effective and thorough client and userfriendly one
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One-stop solution for all the SMEs/Businesses to get their business insured, file claims, upload docs in the fastest way possible. Great product!!
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ASIPRE HEALTH is a first-of-its-kind customer-centric business insurance platform that allows SMEs, corporations, and start-ups to the self-managed employee, liability, and indemnity insurance.
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Maker
ASPIRE HEALTH by Artivatic is a modern and AI led automated platform for employees and group health that aims to drive high quality outcomes, efficiency and simplification. The platform provides a connectivity for brokers, carriets, TPAs, 3rd parties and customers on one Unified platform.
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ASPIRE HEALTH is a AI driven user-friendly and automated platform that enables employees to purchase individualised insurance based on risk for group health. They also enable customisation such as tele-consulting, wellness, mental health.