Trionfo: Streamlining Benefits Distribution and Management
Uday Patel, President and Co-founder
The employee benefits program plays a vital role in driving and retaining top talent. While manually managing a benefits program can be complex, employers can save time and money by implementing user-friendly benefits administration solutions that have been built with purpose. These solutions can also solve the inherent challenges in the insurance sales and distribution channels by seamlessly connecting carriers, agents, employers, and employees under one roof.
Headquartered in Itasca, IL, Trionfo offers a robust, end-to-end solution that perfectly fits the bill.
Trionfo was founded by insurance professionals with over three decades of experience working with carriers.
The solution is built based on a complete understanding of insurance product development, sales channel efficiency, and clients’ buying habits.
“We are insurance people in the technology business, not technologists trying to break into the insurance industry,” says Uday Patel, President and Co-founder, Trionfo. “We offer a robust, all-round solution to the carrier market, the agencies, as well as the employers and employees.”
“Our Focus On Both Small And Large Groups Makes Us Intangible. Our Experience Coupled With The Ability To Bring New Products In The Market That Are Scalable Is What Makes Us The Partner Of Choice For Clients”
Trionfo’s SaaS-based carrier platform acts as the hub for the end-to-end processes that take place between the carriers, distribution, and consumers while facilitating the effective distribution of products across the entire benefits spectrum.
Built to Solve the Challenges
In today’s highly competitive market, many carriers find it challenging to grow their revenue, improve operational efficiency, and gather insights regarding employer markets for creating new products. Trionfo’s purpose-built solution allows them to efficiently distribute their products via agencies and brokers and bring new products to market for increasing revenue. Agencies and brokers can use the platform to consolidate their health and ancillary programs and take a holistic approach to sell them. For employers, the solution helps digitalize the entire benefits administration process. The platform enables them to map out and deliver the right benefits programs and ancillary products to employees and automate the renewal process.
A significant value-add of Trionfo’s platform is its consolidated billing service. With Trionfo, employers don’t have to go through the grueling process of writing multiple checks for various coverages to different carriers. They can write a single one to manage the entire remittance, commissioning, and other benefits processes. The platform acts as a single source for group and individual billing for multiple carriers, payments, reconciliation, and adjustments.
Trionfo’s platform is built to be flexible, configurable, and easily pluggable into the clients’ environment to foster effective sales enablement, benefits administration, and billing while ensuring the insurance processes get easier and cost-effective. The platform allows clients to streamline the benefits value chain processes, including generating proposals, contribution models, onboarding, implementation, digital paperwork, and consolidated billing.
“We are both a software company and an operations services provider,” says Patel. If clients are looking for a solution to streamline their processes without licensing the technology, Trionfo becomes their service entity and acts as their back office or operation department. Trionfo will manage their administration workflow, including installations and call center billing services, and even welcome letters, renewal letters, and ID cards for employers.
In both cases, Trionfo educates stakeholders and enables them to make the right decisions while buying an insurance product. This is especially favorable for employers as they can analyze the various benefits products and choose the best one. It eliminates the cumbersome process of searching for details online or hiring consultants to obtain specifications about any product.
“We Are Insurance People In The Technology Business, Not Technologists Trying To Break Into The Insurance Industry“
Trionfo is perhaps the only platform on the market that can seamlessly educate its users about specific value-added products that can be a part of the health benefit plan they purchase. It enables cross-selling at the point of purchase. For instance, if an employer purchases a group health package for its employees, the platform can inform the employer regarding individual dental and vision plans.
Besides its all-round platform, Trionfo offers two distinct services to clients — technical service support and a dedicated training model where they educate clients on using the platform. The platform also overcomes the challenges in adoption and integration with its ease of use.
Trionfo has assisted many clients across the benefits value chain, including insurance carriers and premium TPAs. Before collaborating with Trionfo, these clients had to deal with different accounting and eligibility systems. With Trionfo’s platform, they could view membership, billing, payments, remittance, and commission via a single pane of glass.
Paving the Way for a Triumphant Journey
Trionfo is positioned not just to predict tomorrow’s market but to create new opportunities for it. For example, many work site benefits products today are targeted toward large group markets, almost negating the smaller groups with fewer employees. Trionfo is partnering with its carrier partners to create products that will serve these small businesses that comprise 80 percent of the enterprise world. The company plans to offer multi-carrier work site benefits to direct consumers in the next six months.
“Our focus on both small and large groups makes us intangible. Our experience coupled with the ability to bring new products in the market that are scalable is what makes us the partner of choice for clients,” states Patel.
With departments across India, Brazil, and Mexico, Trionfo’s team works as a cohesive unit to power their clients’ success. Looking ahead, Trionfo aims to partner with different carriers and agencies, listen to their needs, and create new products at a competitive price. The company also plans to continue improving its platform and make it as intuitive as possible for all users.
Trionfo’s platform consists of six technologies that are tied together to offer a holistic benefits experience to clients. These include:
• The direct selling technology that allows employers to go online and engage in self-service shopping for group insurance.
• The direct consumer technology that permits consumers to purchase individual benefits products.
• The agent experience technology that enables agents and distributors to distribute group insurance products in a consultative manner.
• The agent experience technology that allows the agent to focus on providing support for individual insurance products.
• The benefits administration piece for group and individual clients that allows them to view their bills and benefits via a single portal.
• The premium billing functionality that offers consolidated or list bill capabilities.
Clients can avail these functionalities as a complete package or by licensing them based on their unique requirements.