America's Benefit Specialist August-September 2022

bridging this virtual gap, providing access to digital life insurance policies for both sellers and consumers alike. In the wake of the pandemic, 58% of insurance CIOs indicated that they had increased their funding of digital innovation through 2025. This move to the digital space created new data streams and led to more seamless, faster processes surrounding pur chasing insurance for insurance producers and customers. Sproutt’s Smart Routing leverages these digital resources to empower agents to make data-driven decisions that best serve their customers’ needs. The ability to predict in real-time the acceptance chanc es for a specific customer based on their unique attributes maximize agents’ effec tiveness while ensuring that each customer has access to the best insurance solution and optimal buying experience. Predictive analytics, along with the use of big data and AI for rules-based underwrit ing, have modernized the risk-assessment process for life insurance, leading to rapid policy issuance for consumers. As Sproutt’s Smart Routing technology matures, the company is able to introduce a new dis tribution paradigm: Sproutt SmartLife for Agents enables life insurance producers to provide for 95% of all consumers’ life insur ance needs on one smart portal, wherever consumers prefer. SmartLife for Agents creates new advantag es for agents: Rapid risk assessment: Agents can utilize Sproutt’s proprietary Smart Routing to best match a customer’s risk profile to the most suitable product, instantly improving their placement rate while also enhancing the cus tomer experience. Dynamic customer solutions: Sproutt SmartLife for Agents enables agents to fulfill 95% of all consumers’ insurance needs by leveraging technology and offering instant de cisions through fully underwritten products. Increased market penetration: Agents can sell their way with Sproutt SmartLife for Agents, including 100% digitally, in-per son, over-the-phone, or on their mobile device. Sell 24/7 with our customer-direct capabilities.

potential financial impact for the business using employee census data. Household Study: Specialists speak with employees to better understand their individual and/or family health and financial circumstances. Member Support and Alignment: With the information compiled during the House hold Study, specialists educate employees on the best options for healthcare coverage. That may include plans outside those offered by the employer. Benefit Resource Genie was developed, and is provided, by risk-management firm Benefits All In LLC (BAI). In a recent case study of a 1,200-employee residential care organization, more than one-third of the staff was alerted to alternative healthcare coverage options to best fit their individual needs. The results saved the employer nearly $500,000 in a six-month period. Additional information can be found at www.chubb.com. SPROUTT EMPOWERS AGENTS WITH PREDICTIVE LIFE INSURANCE SALES CAPABILITIES Sproutt, a life insurance company that uncovers the hidden healthy aspects in ev eryone, has announced the launch of Sproutt SmartLife for Agents, enabling insurance producers in the U.S. to offer life insurance products in the fastest and most convenient way. The new platform employs Sproutt’s proprietary predictive Smart Routing technology to enable modern insurance pro ducers to provide the best possible product to the most customers – helping close the needs gap of 41 million Americans needing but lacking life insurance. COVID-19 not only led to a spike in life insurance demand, but also accelerated the already growing transition to digitalization. In a recent survey of independent insurance agents and brokers, 96% said their customers are looking for more digital tools than they were pre-pandemic. In fact, agents saw an 11% increase in customers making purchases fully online. Sproutt SmartLife for Agents is

Save time and increase revenue: Sproutt SmartLife for Agents leverages technology to enable rapid policy acquisition, saving agents valuable time. To find out more, visit www.sproutt.com.

BCBS OF MICHIGAN EXPANDS PORTFOLIO OF FLEXIBLE MARKETPLACE PLANS Blue Cross Blue Shield of Michigan and Blue Care Network are adding 18 new health plans for the individual market for the 2023 ACA marketplace open-enrollment period. The new plans include a new HMO virtual primary care plan and a localized network option that gives members more choice on where and how they get their care. BCN’s virtual care plan gives HMO mem bers the flexibility of getting care virtually, on-demand, BCBSM said. These plans will have the same care flexibility as in-person visits. The localized network option is for HMO members in southeast Michigan looking for more affordable plans. These plans will offer a narrower HMO network offering a more “streamlined group of in-network physi cians,” BCBSM said in a press release. Additional benefits include genetic testing through BCBSM’s new Blue Cross Precision Medicine program for HMO members and a maternal health package for qualifying PPO and HMO members. The Blue Cross Precision Medicine Pro gram leverages genetic testing to personalize medication treatment based on a review of a patient’s currently prescribed medications. The program “works to optimize the medical benefits of specific therapies for individuals based on their genetics, lifestyle, and environ mental factors.” Patients can take advantage of several addi tional benefits offered across the network’s in dividual market plans at no cost. These benefits include free annual visits, wellness appoint ments, vaccinations, Blue Cross medical online visits and diabetes-management tools.

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