Digital-first benefits company anticipates over 70% revenue growth in 2022
COLUMBUS, OH – June 15, 2022 — Beam Dental, a digitally-native employee benefits company, today announced the addition of voluntary life, accident and hospital indemnity products to its benefits portfolio. With these new products, Beam continues its evolution as a one-stop-shop for ancillary benefits and has rebranded to Beam Benefits. The change is accompanied by a refreshed brand identity and new website.
Studies show that wages no longer incentivize employees to stay with their current company. Instead, they should turn to creative benefits packages. By adding new insurance products to its portfolio, Beam Benefits delivers brokers and employers a truly modern benefits platform.
“Employers are moving from office perks to benefits that make employees’ lives healthier, happier, and more financially sound,” said Alex Frommeyer, co-founder and CEO of Beam Benefits. “At Beam Benefits, we make employee benefits simpler and smarter so they’re easier to understand and use, creating happy, motivated, and productive employees. We’re primed to simplify the paper-logged and complex employee benefits industry.”
Beam Benefits offers brokers, employers and members:
- Instant quoting: Beam’s digital quoting tool uses machine learning to give brokers and employers customized, tailored quotes for any group size in seconds.
- Quick and easy setup: Implementation takes less than 5 days on average instead of weeks or months, so brokers and employers can get benefits to their clients and workforce faster.
- Employee engagement: Brokers and groups who engage Beam in the enrollment process are seeing >15% increase in enrollment thanks to Beam’s simplified enrollment approach and white-glove service experience.
- Wellness incentives: Beam supports better health through its robust benefits portfolio and its Beam Perks program – incentivizing healthy habits with redeemable wellness-connected rewards and a smart toothbrush that encourages consistent dental hygiene.
- Help from humans: Support from a real person is available for everything from quotes to claims.
“Benefits have been stuck in the dark ages for too long. A lot of insurance companies make it difficult for employees to learn about coverage and to use their benefits, and this means wasted dollars for their employers,” said Frommeyer. “The future of benefits is digital, and Beam Benefits is at the center of it all by making it easier than ever for employees to access their benefits.”
Beam Benefits is best-known for modernizing dental insurance with a first-of-its-kind connected Beam Brush toothbrush that allows groups to potentially earn lower insurance rates based on their dental hygiene. In 2021, Beam Benefits saw another year of record growth when it doubled its member base and revenue compared to 2019, grew to more than 300 employees, and raised $80 million in Series E funding.
Beam Benefits will continue to launch additional benefits products and will add critical illness to its portfolio later this year.
To learn more about Beam, visit www.beambenefits.com.
About Beam Benefits
Beam Benefits is a digitally-native employee benefits company that offers dental, vision, life, disability, and supplemental health coverage for employers of all sizes. The company simplifies and modernizes the $100+ billion ancillary benefits industry through its intuitive online platform, self-service tools, AI-powered underwriting, and thoughtful coverage for improved overall wellness. Its Beam Perks™ program offers incentives to members and rewards them for healthy behaviors. Beam has raised over $160 million in funding and is available in 44 states across the U.S. Learn more at beambenefits.com