WELLESLEY, Mass., April 1, 2019 /PRNewswire/ — Sun Life and Maxwell Health have launched a combined benefits technology solution, providing employers and their employees with an intuitive digital benefits experience. (See employer platform highlights in this video.) Not just an annual enrollment tool, the platform is a 24/7 benefits and HR command center that makes it easy for members and HR teams to access and manage employee benefits year-round. In addition to supporting a complete portfolio of Sun Life benefits, the new “Sun Life + Maxwell Health” platform enrolls medical insurance and includes distinct advantages for brokers and employers that result in less time spent on manual administrative tasks.
Sun Life acquired Maxwell Health in 2018 with aligned goals of helping employers and their employees achieve financial security and access the right benefits to live healthier, more productive lives. As an offering from one company, the Sun Life + Maxwell Health platform can provide a faster, simpler, more integrated experience than other benefits administration platforms.
“We believe in meeting clients where they are,” said Vinay Gidwaney, head of Maxwell Health. “Employers are looking for the time savings and additional employee engagement that comes from a digital benefits experience, plus dedicated technology support year-round. Offering their suite of Sun Life benefits within the enhanced Maxwell experience allows employers to administer the benefits enrollment process in an efficient, paperless way, and at the same time offer employees the support and education they need to make the right benefits decisions and cover the financial gaps in their insurance.”
In a recent Sun Life broker survey, 32 percent of brokers said the most difficult part of the benefits platform discussion with their employer clients is effectively explaining how the platform can alleviate and integrate administrative tasks and processes. Since the Sun Life + Maxwell Health platform is working in real time throughout the year, HR administrators have access to a comprehensive benefits solution that reduces time spent on burdensome tasks and allows them to focus on adding more business value.
Key differentiators of the Sun Life + Maxwell Health offering include:
The platform allows consumers to access and review their benefits portfolio any time of the year through a web-based portal or the Maxwell Health mobile app, helping them fully utilize the value of their benefits package.
“In the U.S., much of the population is underinsured, and this results in burdensome out-of-pocket spending for healthcare,” said Joi Tillman, vice president of Voluntary Benefits at Sun Life Financial U.S. “It is vital to help employees approach their benefits decisions holistically. Choosing the right insurance to supplement high-deductible health plans with voluntary coverage such as critical illness and accident insurance can provide much-needed financial protection. We are excited to offer this new platform that provides a seamless decision support and enrollment experience for consumers. Members can expect more innovative touchpoints as the platform continually evolves, as early as the 2019 enrollment season.
“A huge additional benefit for the Sun Life family is Maxwell Health’s talent, which gives us the edge in addressing brokers’ and employers’ top concerns in the insurtech space, such as advanced, data-driven solutions for underwriting and claims processing,” added Tillman. “With Maxwell, we’ve gained a center of innovation that we will leverage to advance Sun Life’s digital capabilities throughout the company.”
The Sun Life + Maxwell Health platform supports products from any employer-chosen insurance provider, and is available for quoting by brokers April 1 for July 1 effective dates.
Clients already using Maxwell’s direct platform will continue to do so and access the comprehensive benefits experience they already enjoy.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of insurance, wealth and asset management solutions to individuals and corporate Clients. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2018, Sun Life Financial had total assets under management of C$951 billion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
In the United States, Sun Life Financial is one of the largest group benefits providers, serving more than 60,000 employers in small, medium and large workplaces across the country. Sun Life’s broad portfolio of insurance products and services in the U.S. includes disability, absence management, life, dental, vision, voluntary and medical stop-loss. Sun Life employs approximately 6,000 people in its U.S insurance and asset management businesses. Group Insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.) and Sun Life and Health Insurance Company (U.S.) (Lansing, Mich.). For more information, please visit www.sunlife.com/us.
About Maxwell Health
Maxwell’s mission is to make better health and financial security possible for all Americans by simplifying benefits and insurance. Maxwell Health is a marketplace that empowers consultants and employers to offer the best benefits to employees, helping them achieve better health and financial security. The platform automates HR and benefits administration, providing a user-friendly experience for employees to understand, shop for, and use their benefits.
Media contact:
Devon Fernald
Sun Life Financial
781-416-7151
Devon.portney.fernald@sunlife.com
Sara Revsin
Maxwell Health
814-450-5527
sara@maxwellhealth.com
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SOURCE Sun Life Financial
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