October 2014 – New York City, NY – Corestream recently launched its auto insurance comparison tool as an add-on to its voluntary benefits platform. The auto insurance comparison tool provides employees with real-time discounted quotes from the three major Group Auto insurance carriers in less than one minute.
“Employee engagement and the quality of the consumer experience ultimately drives our success as a company,” said Corestream CEO, Neil Vaswani. “With Auto and Home Insurance, we compete with the employee’s existing coverage. Each carrier focuses on a different risk profile and there are thousands of permutations, so the ‘best’ rate is truly individual. Corestream’s comparison tool allows employees to fill out one form and get discounted and custom rates from the only true Group Auto Insurance carriers: Liberty Mutual, MetLife and Travelers. This simple process creates choices for employees and encourages sophisticated shopping behavior that results in real cost savings to employees. For employers, the resulting increase in participation translates to employee engagement with your company and recognition of the true value of a well-executed employee benefits program that treats employees with respect and give them choices that enable to save money on long-term costs like home and auto insurance.”
Corestream developed the tool with the busy employee in mind. Corestream’s tool enables employees to generate auto insurance quotes from major carriers, within about a minute of form submission. Corestream developed the most technologically advanced, real-time group auto insurance comparative quoting application on the market today eliminating wasted time and frustration of filling out redundant forms and error-prone re-entering of data. This attention to the consumer experience and emphasis on saving time and money is a unique aspect of Corestream’s fully integrated platform and is not found in piecemeal competitive solutions.
Why did Corestream choose to present only Liberty Mutual, MetLife and Travelers? These carriers underwent the painstaking task of obtaining individual state approval to offer exclusive and deep employee discounts while also deploying the resources to closely integrate with Corestream in order to improve the consumer experience. At Corestream, we only bring real savings to your employees that they can’t obtain in the retail market.
For employers, Corestream provides all three carriers’ payroll deductions in a single deduction file using its one-slot billing technology. A single deduction file includes the auto insurance deductions as well as any other payroll deductions attributed to voluntary benefits.
Before the tool’s launch, the few other comparison tools on the market simply provided static quotes estimates in lieu of valid, bindable real-time quotes. The remaining tools were used for lead generation for the carriers with no real time quotes at all. With Corestream’s tool, employees get the best prices immediately, along with a array of other discounts across a wide range of categories from travel and entertainment to home improvement, all provided as a voluntary benefit.
Tool features include:
- Completion of one questionnaire delivers instant quotes from three major carriers
- Option to store quotes for viewing or editing later. Saving time and errors by eliminating redundant data collection requests
- Best prices are presented in less than a minute with no further negotiation required
- Employees can call the carrier of their choice directly with questions without reiterating information already entered. The carrier automatically receives the quote information
- The form is easily accessible within the client’s specific employee portal so they don’t have to leave their secure site or otherwise risk exposing private information to an unknown lead broker somewhere on the internet
“We’re focused on innovation,” Neil explained, “and creating value for everyone. We are dedicated to developing innovative solutions for HR departments and their employees.”