As part of its commitment to enhancing the customer experience, Lincoln Financial Group (NYSE: LNC) announced today a new partnership with industry-leading benefits technology firm PlanSource. Tied to Lincoln Financial’s Group Benefits business and its multi-year technology investment strategy, the partnership will help deliver a consumer-friendly employee benefits purchasing experience for individuals, while supporting key broker partners and helping reduce the administrative burden on employer customers.
Millennials are the largest generation in the workforce today, and the vast majority (89%) say that understanding a benefit and how it works is an important factor in deciding which benefits to choose at work1. PlanSource delivers a modernized shopping experience for benefits, offering enhanced educational materials to help employees better understand the benefits offered.
“Our solutions can only help someone if they are enrolled,” said Bob Reiff, senior vice president, head of Distribution and Client Solutions, Lincoln Financial Group. “PlanSource has a knack for simplifying benefits and displaying them in a way that is easy for employees to understand and ultimately enroll in.”
Brokers across the group benefits industry work with PlanSource, and this new relationship ensures that Lincoln is aligned with the benefits technology solutions brokers are offering their clients.
Additionally, PlanSource is making investments in technology and operational processes, which eases what can be a significant administrative burden on an employer’s Human Resources department.
“Lincoln understands that every day experiences — the ease of ‘born digital’ companies — influence our customers’ expectations of their employee benefits buying experience,” said Reiff. “I’m thrilled that this partnership will drive a better customer experience — for our brokers, our employer clients and their employees.”
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, as well as to guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $247 billion in end-of-period account values as of March 31, 2020. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, Lincoln earned perfect 100 percent scores on the Corporate Equality Index and the Disability Equality Index. Lincoln has also been recognized in Newsweek’s Most Responsible Companies and is among Forbes’ World’s Best Employers, Best Large Employers, Best Employers for Diversity, Best Employers for Women and ranked on the JUST 100 list. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.
PlanSource is a technology company driven to create a better benefits experience for employers and their employees. More than 5 million consumers receive their benefits through the PlanSource platform, which provides flexible and intuitive software and services for benefits administration. By combining industry-leading software and a full suite of technology-enabled services, PlanSource provides companies of all sizes with a complete solution for benefits shopping, enrollment, billing, compliance and administration. Learn more at www.plansource.com.
PlanSource is a registered trademark of PlanSource Benefits Administration, Inc., and PlanSource owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.
1 Millennial & Gen Z Reflections on Workplace Benefits & Financial Planning, Lincoln Financial and The Center for Generational Kinetics