Additional Enhancements to GI Term Onboarding

We’re continuing to enhance the onboarding experience for both employee – and employer – owned Principal® Guaranteed Issue Term II plans.

Employee-owned plans: What’s new?

After upgrading the digital employee enrollment process last year, we’re excited to let you know we now have a digital process to collect information from clients to start the plan set up.

Once an organization says ‘yes’ to a plan, we start gathering basic information from them. In the past, this was handled with paper forms sent back and forth via email. Now, your clients can provide this information through our business plan onboarding portal – a fast, convenient, and secure process.

• The onboarding specialist has the organization establish portal log in credentials. 
• Then, the organization logs in and provides information about their structure, billing preferences, and who their key decision maker is. 
• Required forms previously in paper format can now be completed online. 
• After the plan is implemented, your client is able to use the same portal and log in information to manage their plan using self-service features, such as autopay enrollment, viewing the plan census, accessing service forms, and viewing/paying bills. 
• This latest enhancement lays a foundation to expand on. Additional digital onboarding capabilities are on the way, including financial professional access and integrated e-signature. These new features will provide a better customer experience and a seamless transition from onboarding to servicing. 

Employer-owned plans: What’s new?

Improvements have been made to the process that helps enhance the experience for employers by reducing the time they’ll spend filling out paperwork and eliminating the need to meet with employees to collect documents. This can result in a faster plan implementation. Other improvements to the process include: 

• The onboarding coordinator prefills documents based on presale information. And conducts onboarding calls with the employer and financial professional to review the digital experience, next steps, and timing.
• Paperwork is sent to the employer electronically for review and eSignatures.
• Insureds receive the Consent to be Insured form via email link. They are able to eSign it within the online system and will no longer receive a separate email with links to sign.