LDEx to optimize employee benefits data exchange for USAble Life customers
EverythingBenefits, the provider of comprehensive, next-generation benefits technology solutions, announced it has successfully implemented the LIMRA Data Exchange Standards (LDEx) with USAble Life, an “A” rated life insurance provider by A.M. Best.
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LDEx was developed by LIMRA in collaboration with its Data Exchange Standards Committee, which consists of 42 companies representing 90% of the inforce non-medical workplace benefits market. It allows benefits administration technology companies to send coverage elections, changes and terminations, as well as non-coverage demographic changes to a carrier in a consistent XML format. Supported products include all life products, accidental death and dismemberment, critical illness, cancer, accident, dental, vision, hospital indemnity and short and long-term disability products.
EverythingBenefits’ Chief Information Officer, Dmitry Korsunsky, said, “EverythingBenefits is committed to driving the best experience in benefits for each of its customers. LDEx allows us to provide a faster, more efficient, streamlined service to USAble Life customers ahead of the industry’s peak season, and we recognize the strong vision of USAble Life’s leadership team in making this possible.”
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USAble Life, one of the country’s largest life insurers and eight-time Top 50 Life-Health Performer (Ward’s) has partnered with EverythingBenefits for its end-to-end benefits technology solutions and services.
Rich Macy, USAble Life’s Chief Operating Officer, said, “USAble Life’s mission has always been to provide services that make a meaningful difference to our customers. Our ongoing partnership with EverythingBenefits and the implementation of the LIMRA LDEx will allow us to offer a truly valuable efficiency upgrade to USAble Life’s customers.”
The LIMRA LDEx provides a simplified framework with shorter processing times and reduced complexity that aims to deliver a faster and more accurate client experience, increased speed to market, and help managing bottom-line expenses.