AUSTIN, Texas, Nov. 7, 2024 /PRNewswire/ -- PerfectQuote, Inc., a leading group health digital quoting platform, announced its collaboration with Principal Financial Group, to provide PerfectQuote customers with direct, underwritten proposals for dental, vision, life, disability and voluntary benefits delivered through its Request-for-Proposal ("RFP") toolset.

With a critical mass of firms and general agencies leveraging the PerfectQuote platform (including 14 of the top 20 largest U.S.- based firms) servicing almost 80,000 employers through the platform, insurance carriers are leveraging a frictionless digital distribution experience to deliver underwritten and bindable quotes; allowing PerfectQuote to continue its mission to enable distribution at scale to thousands of brokers nationwide along with reporting insights to help carrier sales and underwriting teams optimize their operations.

"At Principal, we're committed to offering innovative solutions that bring value to our distribution partners and customers," said Kara Hoogensen, senior vice president for benefits and protection at Principal. "By working with the PerfectQuote RFP toolset, our distribution partners are able to streamline their processes and serve customers efficiently and accurately."

Since the 2018 launch of the platform, PerfectQuote successfully provided brokers the ability to streamline their quoting processes for employer group clients of all sizes by eliminating and automating many manual error-prone tasks, reducing close times by as much as 95%.

"We believe PerfectQuote is the leading solution provider in its category, continuously resetting the standards by which other solutions try to meet. From robust and powerful application tools to leveraging our excellent customer service, PerfectQuote allows for our customers and partners to set themselves apart in their respective market segments," said Aaron Snyder, President and co-founder of PerfectQuote. "We are excited to work with Principal, one of the most popular and tech forward insurance carriers in the country; this relationship will be key to digitally transforming an industry that has been slower to modernizing the distribution of group health insurance."

About Principal Financial Group

Principal Financial Group (Nasdaq: PFG) is a global financial company with 20,000 employees1 passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we're helping more than 68 million customers1 plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal is proud to be recognized as one of the 2024 World's Most Ethical Companies2, a member of the Bloomberg Gender Equality Index, and named as a "Best Places to Work in Money Management3." Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.

1 As of September 30, 2024
2 Ethisphere, 2024
3 Pensions & Investments, 2023

Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/-dealers. Referenced companies are members of the Principal Financial Group, Des Moines, IA 50392.

About PerfectQuote

PerfectQuote is an Austin, Texas-based company founded in 2017 by brokers for brokers, focusing on delivering operational excellence and client satisfaction through technology in the commercial group health insurance industry. The company provides brokers with a category-leading cloud-based group benefits quoting software platform (PerfectQuote) that streamlines commercial health insurance selling to large, medium, and small group employers. The application is used by several of the top 10, 50 and 100 largest US-based agencies that service over 80,000 employer groups through the platform.

Media Contact: Aaron Snyder, [email protected]

SOURCE PerfectQuote, Inc.