benefits.market is securely connected to pensionsync: the data exchange used by leading payroll software companies to deliver data to automatic enrolment pension providers.
Every employer that uses pensionsync is given a free benefits.market account. Once activated, the technology automatically generates comparison tables based on analysis of payroll data, as payroll data flows through pensionsync.
The powerful combination of pensionsync + benefits.market has the capability to both lower the burden of automatic enrolment for employers and their payroll agents, and simultaneously find and present value for money group risk insurance and protection policies.
benefit.market’s technology can generate prices for insurance policies and display them in comparison tables in fractions of a second, removing the need for employee benefit consultants to perform the same tasks manually. Employers can often grossly overestimate the cost of these foundation life and sickness benefits, and can be reluctant to appoint an advisor to obtain quotes. Furthermore, advisors are not motivated to seek out and win business from smaller employers because of the smaller commissions associated with SME group policies. These barriers (to efficient life insurance distribution for smaller employers) are overcome by our technology.