Principal Financial Group announced a collaboration with PerfectQuote, a group health digital quoting platform, to provide direct, underwritten proposals for various benefits. This partnership includes dental, vision, life, disability, and voluntary benefits, delivered through PerfectQuote's Request-for-Proposal (RFP) toolset. The initiative aims to streamline the quoting process for distribution partners and customers.
The PerfectQuote platform currently services nearly 80,000 employers, including 14 of the top 20 largest U.S.-based firms. By leveraging this platform, Principal seeks to enhance efficiency and accuracy in delivering insurance quotes. This digital transformation is expected to reduce close times for brokers by as much as 95%.
Kara Hoogensen, senior vice president for benefits and protection at Principal, stated that the collaboration offers innovative solutions that bring value to distribution partners and customers. This move is part of Principal's strategy to modernize the distribution of group health insurance and improve customer service.
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