Transamerica Enhances Voluntary Workplace Benefits with ClaimsMinder

BALTIMORE, March 30, 2021 /PRNewswire/ -- Transamerica today announced a new claims reminder service to help people with Transamerica voluntary benefits policies, including accident, critical illness, and hospital indemnity insurance. This service enhances Transamerica's employee benefits policies, which are offered by U.S. employers to their employees. ClaimsMinder^SM is a straightforward way to help employees use their supplemental insurance policies, so they can access prompt payment of medical bills and avoid financial stress. ClaimsMinder prompts employees to use their policies to offset out-of-pocket costs from an illness or accident, giving more value and peace-of-mind when it is needed most.

ClaimsMinder analyzes major medical providers' data, adhering to HIPAA consumer privacy regulations. Transamerica is not a provider of major medical insurance. Transamerica provides supplemental insurance policies that can be used to offset expenses that result from accident or illness. ClaimsMinder sends an automated reminder to policyholders, alerting them that they may be eligible to file a claim covered by their Transamerica supplemental insurance policy.

ClaimsMinder is powered by Benefits Science Technologies, a leading healthcare analytics firm that works with major medical carriers in the U.S. The data used by Benefits Science Technologies is not shared with Transamerica or any other parties. Benefits Science Technologies uses quantitative methods and applied analytics to help customers improve the use of their supplemental policies and file claims more efficiently during times that can be especially challenging for families.

Employers offer voluntary benefits, such as supplemental insurance policies, to help alleviate the financial burden of life's critical events for employees and protect the family's savings. ClaimsMinder can help ensure that voluntary benefits policies are used when they are needed. The service helps improve employee satisfaction by having a more financially secure workforce that is more likely to re-enroll in these important supplemental benefits each year.

"Transamerica helps employees better protect their finances and ensure that they make the most of their employer-sponsored benefits," said Kent Callahan, CEO of Workplace Solutions for Transamerica. "It sometimes happens that employees enroll in voluntary benefits during open enrollment but do not remember to take advantage of these benefits on a timely basis. That is why we are working with Benefits Science Technologies to offer ClaimsMinder notifications, which automatically remind policyholders that they may be eligible to file a claim covered by their supplemental health Transamerica policy. ClaimsMinder is just one way that Transamerica wants to make it easier for families to take advantage of the additional protection that insurance offers and help them safeguard their wealth and their health."

ClaimsMinder is now available with Transamerica's self-administered accident, critical illness, and hospital indemnity insurance policies. Employers and their financial consultants can learn more by contacting their Transamerica representative.

About Transamerica
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life, Transamerica's dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2020, Transamerica fulfilled its promises to customers, paying more than $49 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica's corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa and Denver, Colorado. Transamerica is part of the Aegon group of companies. Based in the Netherlands, Aegon is one of the world's largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2020, Aegon managed over $1.1 trillion in revenue generating investments. For more information, please visit www.transamerica.com.

Transamerica offers supplemental health insurance but is not a major medical provider. No customer medical information is provided to Transamerica to use the ClaimsMinder service.

About Benefits Science Technologies
Benefits Science Technologies provides data analytics software/analysis to help manage the risk of self-funded health plans. Plan holders improve their connection to data, empowering optimal decisions to control costs, and improve the quality of care for plan members.

Founded in 2012, the company is recognized as a world-leading research and applied science team, applying advanced analytics and Robust Optimization to complex health insurance decisions. Led by a 30-year MIT professor and Co-Director of the Operations Research Center, the MIT-trained team combines world-class technical knowledge and practical financial experience. The company is headquartered in Boston, Massachusetts, with offices in Atlanta, Georgia, and Houston, Texas.

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SOURCE Transamerica