Health In Tech Expands Stop-Loss Healthcare Products for Brokers
Health In Tech, a publicly traded company on NASDAQ (HIT), has announced a significant expansion of its stop-loss self-funded healthcare products. This initiative aims to empower broker agencies to enhance the delivery and deployment of healthcare plans for various employers. Key aspects of this growth include the introduction of over 100 pre-configured stop-loss plans, tailored to meet client-specific regulatory compliance requirements, emphasizing rapid market entry and adaptability.
Strategic Alliance with Benefit Re
In line with this expansion, Health In Tech has established a strategic partnership with Benefit Re, a rising insurance entity with expertise in healthcare and property and casualty sectors. Benefit Re's focus on underwriting and risk management has contributed to outstanding employer retention rates exceeding 85% over the last three years. This collaboration enhances regulatory compliance and operational efficiency.
Enhancing Broker Efficiency
The notable benefit for broker agencies lies in the streamlined implementation of these stop-loss programs, designed for quicker transactions and increased reliability. This new process not only shortens the sales cycle by up to 90% but also supports scalable business models through AI-driven prior authorization delays, optimizing underwriting and claims processes.
According to Tim Johnson, CEO of Health In Tech, these advancements offer a wider array of options for employers to manage escalating healthcare costs. The partnership with Benefit Re accelerates operational speed, providing brokers the tools needed to tackle intricate healthcare scenarios with precision.
William McClure, CEO of Benefit Re, praised Health In Tech's platform for its agility in integrating customized programs swiftly. This capacity highlights the platform’s effectiveness in facilitating efficient market penetration and the deployment of robust cost-containment strategies.
Promoting Sustainable Growth
By expanding its healthcare offerings and collaborating with strategically aligned carriers, Health In Tech reinforces its market position, builds stronger industry relationships, and promotes sustainable growth within the self-funded healthcare segment. The company positions itself as an AI-enabled Insurtech leader, streamlining healthcare processes and advancing broker operator efficiency.
For further information on Health In Tech and its strategic initiatives, visit their official platform.