Reliance Matrix Unveils New Solutions for Small Businesses
Reliance Matrix, recognized for its innovative approach to employee benefits and absence management, has rolled out an exciting range of Small Business Solutions (SBS). This new product line is crafted specifically for employer groups with 10 to 99 employees, aimed at enhancing speed, flexibility, and overall user experience.
The Role of Small Businesses in Our Economy
Small businesses are incredibly important to the economy, making up 99.7% of all firms that employ people and contributing 43.5% to the nation’s gross domestic product (GDP). In recent years, businesses with fewer than 100 workers have driven over 60% of economic growth, highlighting the essential role they play in our financial landscape.
Meeting Market Demands
According to Jim McGovern, Vice President of Distribution Channel Management at Reliance Matrix, their research identified a significant need for a more efficient way to add or adjust employee benefits, particularly in areas like short- and long-term disability. Traditionally, employers had to make tough choices between quality, speed, and affordability when selecting benefits packages. Reliance Matrix aims to eliminate these challenges.
Highlights of the New SBS Platform
This new SBS platform offers rapid quote generation through accelerated underwriting, allowing clients to receive quotes in just one day. With approved plan designs and competitive rates already available, clients can expect a smooth experience without the usual complications of case-level underwriting. The proposals clients will receive are expedient, straightforward, and include all required information in one easy-to-access location.
Coverage Choices
This innovative suite offers a variety of benefit coverage options, including short-term disability, long-term disability, group life, and accidental death and dismemberment (AD&D) plans. These are some of the most requested employee benefits, right after medical and dental insurance.
Broad Range of Service Options
Additionally, the new offerings feature an extensive list of optional value-added services such as Mental Health Support, Drug and Alcohol Addiction treatment, Medical Advocacy, Legal Assistance, Financial Consultation, Work/Life Balance resources, Bereavement support, and Travel Assistance. The enrollment and management processes for these plans are designed to be user-friendly, seamlessly integrating with popular platforms like Employee Navigator and ADP.
A Commitment to Legacy
JoAnne Doyle, Vice President of Group Sales, shared insights into the company’s roots as primarily a small group carrier, highlighting how this legacy is ingrained in their core values. While Reliance Matrix has expanded its focus to include larger enterprises, the introduction of the SBS suite illustrates their unwavering commitment to supporting small businesses.
Engaging Customers and Future Steps
For further information about Reliance Matrix's offerings for small businesses, potential clients are encouraged to reach out to their benefits broker or contact a sales or account manager at Reliance Matrix directly.
About Reliance Matrix
Reliance Matrix offers a comprehensive range of employee benefit, absence management, and workforce productivity solutions. Backed by a highly-rated insurance carrier and pioneering absence management services, the Reliance Matrix team focuses on continuous service improvements. Recent evaluations have recognized Reliance Matrix as the #1 US Absence Management provider, according to an independent market survey by Spring Consulting Group. Since its founding in 1907, Reliance Standard has earned a reputation as a trusted name in employee benefits and retirement solutions. The origins of Matrix Absence Management date back to the early days of Silicon Valley's tech boom. As part of the Tokio Marine Group, a global leader in insurance, Reliance Matrix continues to innovate while providing secure, effective solutions for both individuals and businesses.
Frequently Asked Questions
What is the focus of Reliance Matrix's new product suite?
The new product suite focuses on providing customizable small business solutions for employer groups with 10 to 99 employees.
What benefits are included in the new suite?
The suite includes short-term disability, long-term disability, group life, and AD&D plans.
How quickly can quotes be generated?
Thanks to accelerated underwriting, quotes from the new suite can be delivered within a day.
What kind of additional services are offered?
Additional value-added services include Mental Health Support, Financial Consultation, and more.
Why is this suite significant for small businesses?
This suite addresses the needs for efficiency and speed in obtaining employee benefits, crucial for small business growth.
