With employees coming and going, one of the most common tasks for HR is to activate group medical insurance for new hires (commonly known as onboarding new staff’s group medical insurance). Traditionally, HR had to submit an application form to the insurance broker or agent on behalf of the new employee, and manually enter the new employee’s information, encrypt the documents, and send them to the broker or agent. Then they had to wait for the insurance company to send a notification of activation. The whole process took at least one week or more.
Understanding the challenges faced by HR and SME management, Bowtie provides a simple solution in this article for HR professionals who want to quickly onboard their employees for medical insurance — Bowtie Group Medical Insurance.
As mentioned earlier, when obtaining group medical insurance through traditional insurance companies, HR needs to submit an application form for the new employee’s coverage activation, manually enter the new employee’s information, and send the encrypted documents to the broker or agent. Then they have to wait for the insurance company to send a notification of activation. The entire process takes at least 6 working days (T+6) to complete, not considering the fact that HR can only submit applications at specific times, such as every Monday or the first working day of each month.
From this, it can be seen that the traditional process of activating group medical insurance for new hires relies on intermediaries and involves a lot of document transmission. Some procedures even require waiting for physical document delivery, which is time-consuming and prone to errors. If there are errors in the data input or missing documents, the waiting time will be even longer.
In fact, HR only needs to choose Bowtie Group Medical Insurance, and they can activate the new employee’s medical coverage in as fast as 5 minutes* without going through lengthy waiting periods.
Bowtie utilises technology to eliminate unnecessary and complex document transmission. HR only needs to log in to Bowtie’s employer-designed online portal, and they can activate the new employee’s medical coverage in as fast as 5 minutes*.
On the Portal, HR colleagues can freely add insured employees as needed. They simply need to enter the new hire’s (insured person’s) information and effective date, and the coverage will be immediately activated. Even if there are multiple new hires, HR can upload a form containing all the insured persons’ information, eliminating the need to manually enter each employee’s data on the Portal or encrypt Excel files manually as in traditional methods and then send them to intermediaries, followed by waiting for a response.
Once the employees’ policies are in effect, HR only needs to log in to the Portal to view detailed policy information, including policy coverage, billing records, and the data of insured employees and their families. They no longer need to call intermediaries every time to inquire about these details.
In summary, the Online Portal of Bowtie Group Medical Insurance is not only user-friendly but also saves HR colleagues a lot of time, allowing them to focus more on meaningful work and planning. Bowtie’s group medical insurance not only saves you time but also saves you money! The monthly premium for Bowtie Group Medical Insurance starts as low as HK$98, and it is eligible for application with just 3 employees or more. Each employee can enjoy coverage for network outpatient services, dental care, hospitalization, and more. Limited-time offers are available for successful applications!
Author
The Bowtie Life Insurance Company Limited is an authorized life insurance company and Hong Kong’s very first virtual insurer approved. Through the use of modern technology and medical expertise, Bowtie offers an agent-free, commission-free and more convenient online platform for customers to quote, apply and claim for Voluntary Health Insurance Scheme (VHIS) anytime anywhere. Bowtie is ranked first in the direct channel sales throughout 2021.
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