- May 10, 2022
- Posted by: Newsroom
- Category: Innovation
Firm Continues Momentum with Unprecedented Group Insurance API Platform
SAINT LOUIS, MO – May 10, 2022 – Centro Benefits Research (Centro), a pioneering employee benefits wholesale and analytics firm, today announced the expansion of its broker-carrier comprehensive Group Insurance API (application programming interface) platform with a connection with Principal Financial Group®. This announcement comes quickly after announcing the first-of-its-kind API earlier this year, furthering Centro’s mission of powering digital connectivity between traditional brokers and carriers.
The Centro Group Insurance API Platform enables the seamless and straightforward exchange of client policy information, typically stored in various paper documents. The connection with Principal® creates digital connectivity, allowing all Centro brokers to utilize data in virtually every client interaction, including routine service, renewals, plan consulting and stewardship, RFP, and quoting. Centro can offer its partnering brokers access to clean data in real-time with the one-of-its-kind API.
“There has been an explosion in insurance technology in response to consumer expectations of on-demand data and elevated customer experiences. Our first of its kind and first in the industry broker-carrier API provides brokers, employers and individuals with a modern, real-time experience, adding value throughout the entire service chain. Our partnership with Principal will continue to build digital experiences where accurate data is always available and expand our suite of broker quoting products to bring peace of mind to millions of working Americans.”– Beata Rogala, Chief Operating Officer, Centro
“Principal is committed to delivering differentiated experiences that create value for our distribution partners and customers, while evolving our business and solutions” said Sean McCartney, vice president specialty benefit sales and account management at Principal. “We’re committed to driving meaningful progress to the overall digital experience for our customers.”
With recent investments in talent, and the financial backing of leading insurance broker OneDigital, who acquired the company in 2020, Centro is signaling substantial investments in technology-based products that improve the customer experience within the employee benefits industry. OneDigital is the first traditional broker to utilize the Group Insurance API in this new way, advancing the mutual agendas to bring modern technology to legacy insurance processes, improving the consumer experience, and enabling all system stakeholders to work more efficiently.
About Centro Benefits Research
Centro Benefits Research is a wholesale employee benefits firm that enables brokers and carriers to deliver the best possible outcomes for their mutual customers through powerful research, deep industry expertise and the creation of digitally focused platform efficiencies that drive business growth. Centro’s mission remains squarely focused on bringing modern technology to a legacy insurance process and helping all stakeholders in the system work more effectively. Benefits Research is a OneDigital company. For information, visit centrobenefitsresearch.com.
About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial company with 18,500 employees1 passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 51 million customers1 plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of America’s 100 Most Sustainable Companies2, a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management3.” Learn more about Principal and our commitment to building a better future at principal.com.
1 As of December 31, 2021
2 Barron’s, 2022
3 Pensions & Investments, 2021
Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.