RADNOR, PA — Lincoln Financial Group (NYSE: LNC) has been recognized as an Innovation Partner by Workday, Inc. (NASDAQ: WDAY), a major provider of solutions for managing people and money. This partnership enhances benefits administration and provides customized solutions through Lincoln’s InsurTech platform, LincSmart.
LincSmart aims to streamline benefits management for Lincoln’s employer customers. The platform helps improve efficiency and accuracy, reducing administrative burdens. With the integration built by Lincoln, joint customers using Workday Human Capital Management (HCM) can access real-time data exchange and other innovative capabilities.
As Workday partners, Lincoln’s LincSmart technology offers several key benefits to joint customers:
Real-time Absence Updates: Automate claim and leave status in Workday through real-time data exchange, including intermittent time tracking.
Simplified Billing: Automate monthly self-billing statements using Workday source election data to calculate premiums.
Enrollment Optimization: Enhance the enrollment experience to promote employee engagement. Employees receive product education on voluntary benefits such as accident, critical illness, and hospital indemnity insurance.
Evidence of Insurability: Streamline the employee experience and limit manual employer tasks through an end-to-end evidence of insurability process.
“Employers want simple, automated workflows, technology solutions, and a true, consultative partner. Our LincSmart InsurTech solution provides all three, and that support gives our employer customers time to focus on what matters most — their employees,” said Jimmy Reid, executive vice president and president of Workplace Solutions at Lincoln Financial Group. “We’re committed to meeting our customers’ comprehensive needs, and we’re proud to offer LincSmart’s capabilities on Workday and partner to help our shared customers adapt and thrive in a changing world. This partnership will help bring these benefits to more of our employer customers while opening doors for our teams to develop new capabilities that deliver an even more seamless customer experience to our joint customers.”
About 90% of workers value a personalized, digital experience when selecting and using their benefits. More than 90% are comfortable with guidance through digital channels like websites and mobile apps. Employers see this value too, with many looking to their benefits partners for technology leadership. Nine in 10 employers plan to either increase or maintain their reliance on third-party benefits technology over the next five years. Additionally, nearly 60% of employers choose carriers based on their ability to connect with benefits technology platforms.
LincSmart integrates seamlessly with employers’ existing systems, offering digital solutions that enhance and automate day-to-day administrative tasks. Through strategic partnerships, employers can save time and optimize the benefits selection process for their employees using on-demand educational resources.
Workday HCM is a unified system that helps organizations make faster decisions, gain operational visibility, prepare for future talent shifts, and build effective teams. Workday, Inc. is not affiliated with Lincoln Financial Group.
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