Centro Benefits Research (Centro), a pioneering employee benefits wholesale and analytics firm, announced the expansion of its broker-carrier comprehensive Group Insurance API (application programming interface) platform with a connection with Principal Financial Group. This announcement comes quickly after announcing the first-of-its-kind API earlier this year, furthering Centro’s mission of powering digital connectivity between traditional brokers and carriers.
The Centro Group Insurance API Platform enables the seamless and straightforward exchange of client policy information, typically stored in various paper documents. The connection with Principal creates digital connectivity, allowing all Centro brokers to utilize data in virtually every client interaction, including routine service, renewals, plan consulting and stewardship, RFP, and quoting. Centro can offer its partnering brokers access to clean data in real-time with the one-of-its-kind API.
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“There has been an explosion in insurance technology in response to consumer expectations of on-demand data and elevated customer experiences. Our first of its kind and first in the industry broker-carrier API provides brokers, employers and individuals with a modern, real-time experience, adding value throughout the entire service chain,” said Beata Rogala, Chief Operating Officer at Centro. “Our partnership with Principal will continue to build digital experiences where accurate data is always available and expand our suite of broker quoting products to bring peace of mind to millions of working Americans.”
“Principal is committed to delivering differentiated experiences that create value for our distribution partners and customers, while evolving our business and solutions” said Sean McCartney, vice president specialty benefit sales and account management at Principal. “We’re committed to driving meaningful progress to the overall digital experience for our customers.”
With recent investments in talent, and the financial backing of leading insurance broker OneDigital, who acquired the company in 2020, Centro is signaling substantial investments in technology-based products that improve the customer experience within the employee benefits industry. OneDigital is the first traditional broker to utilize the Group Insurance API in this new way, advancing the mutual agendas to bring modern technology to legacy insurance processes, improving the consumer experience, and enabling all system stakeholders to work more efficiently.
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