EaseCentral, a cloud-based benefits enrollment software platform built for small and medium insurance brokers and employers, has announced a $6.5 million Series A round of funding led by Propel Ventures and involving current investors Freestyle Capital, Compound, Upside Partnership, and Transmedia Capital. Along with the raise is the announcement of EaseCentral’s two new health insurance broker offerings.
The first is a free, employee-facing iOS mobile application that facilitates access to insurance cards, health plan information, and paid time off days along with paperwork documentation like W9 forms. The second is an integration with ADP to allow easy payroll setup, syncing between benefits and payroll systems, and automatic updates to deductions based on an employee’s open enrollment decisions.
Commenting on the announcement, David Reid, EaseCentral’s CEO stated, “Our mission is disseminating the very best technology to brokers via the most user-friendly platform.” Medgadget had a chance to ask David a few follow-up questions regarding EaseCentral’s latest health insurance offerings.
Medgadget, Mike Batista: What was EaseCentral’s motivation behind offering a mobile app?
David Reid: Over one third of the workforce is made up of millennials and mobile devices are their preferred method for accessing the internet. This is a quickly growing segment of the population and will soon represent the majority.
Medgadget: Both of EaseCentral’s new offerings (ADP integration + mobile app) are specifically identified for health insurance brokers. How do these offerings specifically benefit the health insurers and their customers?
Reid: While our primary customer is the insurance broker, we provide solutions that enable them to better serve their customers.
- For employers: Our ADP integration will primarily benefit Group Administrators by streamlining Benefits Administration and Payroll. Among other things, this integration will eliminate duplicate data entry. From our new mobile app, employees can easily request time off which allows Group Administrators to manage common, relevant needs, such as accruals.
- For employees: Our mobile application allows individuals to have the essential benefit information (i.e. ID Cards) instantly available, in the palm of their hands, 24/7. Additionally, using our new app, employees can access their company directory or request time off while on-the-go.
Medgadget: What can we look forward to next from EaseCentral?
Reid: EaseCentral will release new tools that enable the consumer, including provider-search tools and cost-transparency tools which will allow employees to see exactly how much a service is going to cost before heading to the doctor’s office, based on their health plan and provider network.
We will also be launching more solutions that connect employer enrollment data directly to providers to improve the speed and accuracy of transactions. Today, we are in an “instant” world and EaseCentral is committed to bringing technology to an industry that has long lagged behind.
Link: EaseCentral’s homepage…
Related announcement: EaseCentral Raises $6.5 Million in Series A Funding Led by Propel Venture Partners…