The partnership is expected to lessen the turnaround time for brokers and customers of RSL
Reliance Standard Life Insurance (RSL), a member of Tokio Marine Group, has selected Limelight Health to modernise and transform its voluntary benefits lines.
Limelight Health, a cloud-based enterprise software solutions company, offers quoting and underwriting platforms for employee benefits industry.
The partnership is expected to streamline the quoting and renewal processes for employee benefits insurance plans.
Initially, it will focus on driving modernisation of RSL’s supplemental health lines.
Reliance Standard Life Insurance senior vice president and chief information officer John Albanese said: “We’re excited to partner with Limelight Health in the modernization of our fastest-growing lines of coverage.
“This technology will empower us and our broker partners to generate quotes more quickly and efficiently, replacing time-consuming legacy processes with an automated workflow. Limelight’s platform is key to helping us build a seamless and superior customer experience.”
Limelight’s technology helps carriers to configure products to best fit business’ needs
The partnership between Limelight and RSL will begin in the spring of 2020 and head towards a company-wide transformation later this year or early next year.
As part of its ultimate objective to bring a significant improvement in user experience, the partnership is expected to lessen the turnaround time for brokers and customers of RSL.
Limelight Health’s quoting platform will allow to build, visual, document, test and release any plan types in real-time. Its API-enabled technology will help carriers to implement and configure products that best suit their respective business needs.
Limelight Health CEO and co-founder Jason Andrew said: “The team at RSL has a very innovative mindset and is looking to bring transformation to the group market. We are excited to collaborate with them on this major initiative and help provide a significantly improved end-to-end experience for their customers and partners.
“We’ve long known that the digital transformation of our industry was accelerating — and today’s experience with COVID-19 only reinforces the imperative of ensuring that businesses can maintain vital operations despite external factors. This new collaboration will do just that.”
In January this year, Limelight Health secured $33.5m in series C funding round led by Principal. Some of the participants in the round include AXA Venture Partners, MassMutual Ventures, Aflac Ventures, Transamerica Ventures, and Wells Fargo Strategic Capital
Limelight planned to use the funding to develop products, customer acquisition, for expansion and for hiring efforts.