Automated data exchange solution
iA Financial Group is combining its proven expertise in group plan administration with the power of digital technology to adopt a robust, efficient process for maintaining sound plan governance.
What is xConnect?
xConnect is a way to automatically exchange different types of data among plan sponsors’ human resource information system (HRIS) or payroll system and iA Financial Group’s systems.
It’s flexible enough to adapt to the specifics of each plan and reduces the administrative work involved by eliminating certain tasks or making them more efficient.
In addition to reducing the administrative burden, the integration of these systems provides better quality and integrity of plan member data.
An effective solution
How does it work?
Group Savings and Retirement
The exchange of plan members’ demographic data allows iA Financial Group to receive data directly from the HRIS. This solution can process changes to employee information, including:
- Automatic registration of new employees if iA Financial Group manages eligibility
- Employment status (death, disability, termination of employment, retirement, etc.)
- Updates to personal or job information
- Updates to eligibility data
Group Savings and Retirement
The eligibility management service offered by iA Financial Group simplifies the plan sponsor’s administrative work and maximizes engagement and plan enrolment.
The service includes:
- Automatic registration of new employees with the exchange of demographic data
- Automatic detection and validation of employee eligibility
- Automatic delivery of an enrolment kit with all the information and instructions needed to enrol
- A quick enrolment process for those who are soon or already eligible
- Dedicated plan sponsor reports for missing information, plan members, eligible employees and, where applicable, employees who have opted out
The exchange of insurance data automatically updates the following information in iA Financial Group’s system based on the client’s HRIS, or vice-versa:
- Changes to insurance coverage
- Addition or removal of dependents
The automatic exchange of payroll data involves sending the group insurance information needed to process employee payroll to the plan sponsor’s payroll system.
When a plan sponsor wants to receive this service, iA Financial Group calculates the:
- Source deductions
- Taxable benefits
- Flexible credits
How long does it take to implement this solution in an organization?
Implementation time varies depending on the HRIS and your individual needs. Our specialists will recommend the best solution and can estimate the implementation time accordingly.
Is there a special team dedicated to groups that adopt this solution?
Yes. Our xConnect specialists will support you throughout the entire process.
What’s the cost of the service?
The cost depends on a number of variables, including the type of integration and the formats required. Feel free to talk to our specialists, who can assess your situation and recommend the best solution.
Which payroll and HR service providers can your service be used with?
Whether you use an in-house system or you deal with an outside provider, the xConnect solution can be adapted to your needs. Feel free to talk to our specialists, who can assess your situation and recommend the best solution.
What are the accepted exchange formats?
We accept Web API, as well as JSON and XML formats. We can also convert any other file format you use.
Can it be used with an in-house HRIS or payroll system?
The xConnect solution can be adapted to your needs. Feel free to talk to our specialists, who can assess your situation and recommend the best solution.
Is the solution available for all groups, regardless of size?
Our xConnect specialists can help you determine if this solution is right for your group. Contact us and tell us about your needs.