Are you considering adding identity protection to your portfolio but aren’t sure how your clients will react? Luckily, you’re not alone. Our brokers have heard every question under the sun, and we have a list of the ones most frequently asked — including answers sure to please every HR professional.
Here’s what’s on their minds.
#1 Can implementing an identity protection benefit lower our overall corporate risk?
Yes, there is a direct correlation between implementing employee identity protection and reducing corporate risk. In fact, 85 percent of hackers state that humans are the number one risk to corporate security. Identity protection raises awareness, making employees far less likely to click on unknown emails, share sensitive data, or use passwords that are easy to crack. These are all factors that help bolster your corporate security.
#2 What’s the upside to implementing identity protection before a breach impacts my employee population?
If you offer identity protection only after a breach has occurred, you’re too late — reactive breach plans are just that. But when you implement proactively, you can prevent identity theft before it occurs. You also increase employee morale by giving them peace of mind, as well as reduce your potential litigation risks.
#3 With employees that are so financially diverse — from executives to entry-level folks — what financial tools can we introduce that will truly benefit ALL of my employees?
Some employees have student loans, some have pets, but every employee has an identity. Identity protection is necessary regardless of an employee’s income. Hackers and thieves don’t discriminate — whether you are an executive, an entry-level employee, or even a child, your identity can be compromised.
#4 What is the most effective method for employees to enroll in identity protection?
The most effective enrollment method is when identity protection is embedded and tied to core benefits. This allows employees to consider this benefit as they select their core offerings and to enroll through their trusted company website.
#5 I have limited resources to add new benefits — what is the time commitment required for implementation?
Most implementations can be done in three calls or fewer. Our implementation process is fast and efficient, taking only 30–45 days to complete.
#6 How does identity protection as an employee benefit protect my employees differently than a direct-to-consumer solution?
When employees purchase direct-to-consumer products, they pay a premium, receive subpar direct-to-consumer customer service, and are more likely to discontinue the service. With identity protection as an employee benefit, they recieve affordable pricing, high-quality customer service, and are more likely to retain the service. At InfoArmor, our customer support team has a 90.1 NPS, and we have a retention rate of 92 percent.
#7 How is identity protection different from our legal plan?
Some legal plans have added identity protection to their offerings in order to add value to their core legal product, but it’s just that — an addition. With identity protection as a standalone benefit, you receive a better product and a higher level of service than you receive from legal plans.
#8 How does identity protection rank compared to our other voluntary options?
Identity protection has quickly become one of the most popular voluntary benefits. By 2021, estimates show that 63 percent of companies will be offering identity protection as a benefit.