InsurTech Spotlight: Simply Benefits

Simply Benefits

Company: Simply Benefits

Website: www.simplybenefits.ca

Business Category: We are a digital third-party payor so we act as an insurer (but don’t hold any risk) and process claims

Maturity Status: Startup (less than 3 years since product went into production)

Product or Service: A fully digital Employee Benefits provider trusted by leading Canadian advisors and their employer clients

Area: Life & Health Insurance

Simply Benefits is Canada’s newest Third Party Payor (TPP) that works with advisors to deliver employee health benefits 100% digitally to Canadian employers.

Our all-in-one digital benefits management platform provides three portals that enables:

  • Benefits Advisors to manage all client plans online,
  • Employers to efficiently administer employee coverage, and
  • Employees to view, update and use their benefits 24/7 via desktop or smartphone app.

We help ENGAGE employees anytime, anywhere, SIMPLIFY the benefits experience, and EVOLVE an advisor’s benefits business.

As a TPP, we also process claims digitally for members through our desktop and mobile app with typical reimbursement in about 48 hours from submission through to employee bank deposit.

What makes us an InsurTech:

We are the first group benefits solution in Canada to completely digitize the entire onboarding and enrolment process (from Advisor to Employee).

Some of the features we offer for each user includes:

  • Advisor: digital onboarding, quick census upload (via CSV or manually), digital plan designs (create multiple at once) and online quotes, e-signatures, and more.
  • Employer: digital onboarding, mass email and push notifications (to their employees), digital employee information updates/terminations/additions, online billing, and more.
  • Employee: digital drug cards and claim submissions with fast reimbursement (<48 hours), 10-minute digital enrolment with ability to submit a claim immediately, AI-powered keyword search, easy coverage lookup, and much more.

We also offer advisors and employers white label options so they can completely ‘own’ their digital benefits portal to provide a familiar branded experience for employees.

Major features & technology used:

Simply Benefits is a completely new build that officially launched January 1, 2021 and includes the following technology:

  • Amazon Web Services (AWS) offers reliable, scalable and inexpensive cloud computing services with built-in security and 99.99% availability.
  • Natural language processing (NLP) to power our AI-powered benefits coverage lookup chat bot.
  • Optical character recognition (OCR) technologies and natural language processing for our real-time receipt parser.
  • ReactJS – a JavaScript library developed by Facebook powering the Simply Benefits web applications.
  • NodeJS – JavaScript runtime powering the Simply Benefits backend systems. Lightweight & scalable. Real-time data.
  • React Native – a cross platform framework which allows for writing web based code for mobile. Reuse components between web and mobile. Utilize third party libraries.
  • Expo – a powerful tool that wraps React Native to provide device capabilities (camera, locations, notifications).

News & Updates

See the latest Simply Benefits news.

About Simply Benefits

We work with leading Canadian partners including Beneva/La Capitale, Empire Life, AIG, Orion Travel, HumanaCare, Wello (Now Maple), Telus Health, PocketPills, and more.

Our unique competitive advantage is that we partner exclusively with trusted and experienced benefits advisors to sell our products (we never sell direct to employers) to their clients so employers get the same great health benefits as any other insurance provider but in one simple 100% digital platform including:

  • Extended Health (ASO available too) including prescription drugs and vision coverage;
  • Dental (ASO available too);
  • Life, Dependent Life and AD&D;
  • Short and Long-Term Disability;
  • Health Spending Accounts and Lifestyle Spending Accounts.

We didn’t reinvent the industry, we just made it better – digitally.

Advisors are our lifeblood to distribution and we’re committed to helping them succeed by reducing administration, providing a white labeled solution and referring leads to help them grow. We’re an advisors new competitive advantage.

Visit us at www.simplybenefits.ca or email us at [email protected].

Source: Simply Benefits

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