The Medicare industry faces a variety of challenges that are difficult not only for agents and brokers but also for the millions of Americans who rely on Medicare to receive the healthcare they need when they need it most. Breakdowns in customer retention, compliance, and agent productivity keep brokerages from achieving their goals and prevent clients from getting the service they need (and deserve). In general, insurance is brilliant at the sale, but broken at everything that comes after it.
Pioneering a transformation in the Medicare space is Magnolia Healthcare, an AI-native Medicare brokerage designed to make Medicare simple for agents, brokers, and beneficiaries. Like many of the most successful disruptors, Magnolia Healthcare was built by the people who need it the most. President and founder Jordan Messer and his team are insurance professionals who created Magnolia Healthcare to address the challenges that other insurance professionals face in their day-to-day work. After all, no one understands the difficulties of an industry better than those who are in the trenches, navigating these challenges firsthand.
At the core of Magnolia Healthcare is Atlas.ai, a groundbreaking healthcare technology that helps insurance brokers manage, enroll, and maintain policies more efficiently. And while this tool is meant to directly aid brokers, policyholders and beneficiaries will also see immense downstream benefits. When brokers can automate and improve some of their processes, they can provide significantly better service to and results for their clients.
How Atlas.ai is powering the future of Medicare
Atlas.ai is a multifaceted tool that can serve a variety of functions for a Medicare brokerage. Its wide-ranging capabilities make it an essential addition to any agent’s arsenal, as it allows them to both make their jobs easier and better serve their clients. Some of the most common use cases for Atlas.ai’s technology include:
- Plan matching: One of the key functions of Atlas.ai is providing optimized plan matching. The platform scans available plans in a client’s area, mapping chronic conditions, verifying SEP eligibility, and comparing benefits in seconds. This ensures that the client gets the best plan for their needs, while agents benefit from a faster, more accurate enrollment process.
- Annual renewal recommendations: Atlas.ai can automate renewal recommendations for ongoing subscribers. Things can change between annual enrollment periods, so Atlas.ai can review what has changed (life circumstances, plan details, location) and determine the best option for clients, whether that is renewing their current plan or switching to a new one.
- 24/7 personal advisor: With the help of Atlas.ai, clients have access to a 24/7 personal advisor. Atlas.ai can function as a chatbot, allowing clients to call, text, or chat with their “advisor” to answer policy questions, get benefit guidance, or understand plan comparisons. This allows agents to focus more of their time on prospective clients.
- Real-time policy management: Atlas.ai provides agents with a dashboard that lets them see the status of the policies across their entire book of business. This can help them better understand and address problem areas, thereby improving client retention.
- Retention workflows: The Atlas.ai platform can automate retention workflows with triggers based on policy changes or upcoming deadlines, conducting outreach via SMS, email, outbound dialing, direct mail, and more. This helps ensure that any retention tasks are not overlooked.
- Hierarchy and contract management: Atlas.ai can also help manage and automate back-end tasks, such as onboarding agents, managing downlines, assigning carrier contracts, and controlling access. This function helps agencies stay organized and efficient in their workflows.
- Compliance monitoring: Similarly, Atlas.ai can support improved and more accurate compliance monitoring. By building customizable scorecards and pulling advanced compliance reports, Atlas.ai can help ensure every agent on the team is held to a consistent standard.
- Commission management: Finally, Atlas.ai can be used to reconcile carrier statements, pay agents, and identify missing earnings — all on a single, streamlined platform. This helps brokers and agents understand and manage their commissions with more transparency than ever.
Why Magnolia Healthcare helps both brokers and clients
The goal of Atlas.ai is to empower brokerages in ways other technological platforms have not. Magnolia Healthcare’s website touts a variety of measurable improvements for brokerages, including a 38% increase in lifetime value, a 22% increase in retention rate, and a 29% decrease in time per agent. This is evidence that Atlas.ai can help Medicare businesses and clients alike.
Ultimately, Magnolia Healthcare’s mission is straightforward: “Make Medicare simple for the agents who sell it, the brokerages who run it, and the Americans who depend on getting it right.” With technology like Atlas.ai at the helm of the next era of Medicare, we can look forward to a future that is simpler for both agents and clients.
