America's Benefit Specialist January-February 2023

PRODUCT NEWS

age costs, filling in these gaps left by large insurance carriers. Pebble debuts at a time when small businesses, startups in particular, are at a distinct disadvantage in terms of the healthcare benefits they can provide employees. While large com panies have dedicated broker teams with the ability to develop customized plans structured specifically for their business—and at lower rates—smaller businesses generally have to make do with limited options available through off-the-shelf packages. Such packag es often exclude benefits like fertility assistance and mental health coverage, which have become important con siderations to employees. Over 60% of large companies aim to offer fertility benefits to their employees, but these benefits are unavailable to smaller companies outside Pebble. Additionally, the onboarding and user experience at startups leaves a lot to be desired, placing a heavy burden on HR teams that are already overextended. Pebble addresses all of these issues and more. Powered by AI, Pebble’s technology creates custom benefits packages for small companies that rival those offered by bigger corporations while providing member-care experiences that are hu man-centered and transparent. “Healthcare is one of the leading cost centers for startups, yet one that gets little attention. The options are difficult to navigate, and coverage almost never meets expectations,” said Manoj Pinna, co-founder and CEO of Pebble. “We can streamline the entire process for start ups, saving them an average of 20% on what they would be paying otherwise. And rather than put this savings back in their pockets, companies are reinvest ing it in additional healthcare services and more comprehensive benefits to better serve their employees. With Pebble, startups can compete with any company out there on benefits, which makes themmore competitive in the battle for talent at very little cost or hassle to themselves.” Pebble also takes on the forms, en rollment and payroll deductions while

life several years later than most and front-load it with significant student debt, you have to take steps to protect your earning potential. It is over the arc of their careers that medical profession als reap the benefits of their upfront investment in education and training and can secure long-term financial rewards and security.” Medical professionals who are ex isting policyowners will also be able to leverage the expanded choices. Those with recently issued disability policies can take advantage of these new ben efits without any additional underwrit ing, while clients with older policies will have the opportunity to acquire these options if they meet the typical applica ble underwriting requirements. BOSTON MUTUAL LAUNCHES INDIVIDUAL SOLUTIONS PROGRAM Boston Mutual Life Insurance Company recently launched its Individual Solu tions Program. This program was creat ed to provide accessible whole life and accident insurance options to under served markets across Massachusetts. “We are eager to further our in surance offerings with the Individual Solutions Program so more individuals and families across Massachusetts have access to the coverage they need,” said Joshua Police, executive vice president—distribution and business development at Boston Mutual. “This program offers insurance solutions for those who otherwise would not have access, ensuring local community members throughout the Greater Bos ton area and across Massachusetts can have the peace of mind they deserve.” According to the 2021 LIMRA Life Happens Insurance Barometer Study, only 52% of American adults have some type of life insurance coverage. The Individual Solutions Program offers the opportunity to purchase affordable coverage that’s easy to understand,

and the opportunity to connect directly with Boston Mutual’s insurance pro fessionals for a personalized customer experience. This ensures policies are based on the individual’s and family’s needs and preferences, so consumers are making informed decisions for their families and clients. “With the launch, we’ll be focusing on community engagement,” said Nicholas Barishian, vice president of individual solutions, who will be leading this program. “The community insights from focus groups we coordinated last year in partnership with LIMRA in Massachusetts indicated that consum ers want a facilitated experience. We are committed to doing just that with our team of insurance professionals to educate the end buyer to help them make informed decisions for them selves and their families. The Individual Solutions team has deep knowledge of insurance products and is passionate about providing peace of mind to local community members.” To learn more, visit www.boston mutual.com/learnmore. PEBBLE AIMS TO CLOSE THE EMPLOYEE BENEFITS GAP Pebble, a new company dedicated to providing more comprehensive health benefits plans to startups, has publicly launched after completing a successful, invite-only beta program. Its financial engineering and technology applica tions build generous employee benefits plans within the ideal construct for employees and small companies while keeping costs under control. Pebble partners with all major health carriers to create packages tailored to each company’s needs, goals and budget. In addition to developing plans, HRAs and FSAs, Pebble steps up when benefits like mental health or fertility coverage can’t be negotiated or worked into a company’s package with a single carrier. It leverages tools available as a third-party administrator to help man

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