What is an API and Why Should I Want One?

What is an API? An API (or Automated Program Interface) is a set of tools, protocols, and definitions developers use to allow automated communication between different systems. Chances are you interact with APIs and are not even aware of it. Data requests transfer information between systems. This integration supports a company's internal or web applications without the need for manual input. It is a seamless way your data team can provide solutions to the departments they support! APIs are limited only by your team’s ability to integrate the data the API supplies. An API is a way of transferring requested data, ...
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A Deep Dive into 401(k) Participant Loan Data

Last month I attended a conference where I had a couple of interesting conversations on the topic of participant loans.  Financial wellness was a big theme at the conference.  The advisers I spoke with were all trying to use participant loans as a window into the financial health of 401(k) plan participants.  More specifically, they were interested in the ratio of outstanding participant loans to total plan assets.  The idea being, the higher the ratio, the more likely participants are in need of a financial wellness program. Thinking about this on my way home, I wondered what even constitutes a ...
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Searching by Plan Type vs Searching by Carrier Benefits All

If you’re a user of our American Directory of Group Insurance tool, you might be familiar with the Plan Type search, which allows you to search by the plan type codes listed on the Form 5500 (and if you’re not a user of the American Directory of Group Insurance, sign up for a free trial here). While this search is useful for finding basic plan types like Health, Dental, Vision, and etc., there are a number of plan types that aren’t included in this search filter that you might be missing out on. That’s where Carrier Benefits All comes in ...
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Prospecting With The 5500 – Planing your First Meeting

Using 5500 Data for Offensive and Defense Business Development (Part 4): Planning the First Meeting Meeting with a potential lead is the first big step in winning their business. While personal preference determines the style of your pitch, it is always a good idea to back your pitch with data. Additionally, being able to tailor your pitch to each lead, quickly, is invaluable. It is also a good idea to present your pitch using multiple modes of communication. While you are going to be speaking your potential clients, remember that not everybody learns or retains information the sale way. For instance, while ...
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Prospecting the Federal Form 5500 – The Offensive Approach

Using 5500 Data for Offensive and Defense Business Development (Part 3): The Offensive Approach The most common, and effective, way to use Retirement Plan Prospector is offensively. The size of the data pool contained in the data set not only provides brokers with a massive lead list but also provides details required to make a data-driven business development plan work. IDENTIFY THE BEST TARGETS While looking for red flags and plan scores are a great way to begin identifying the leads with the highest chance of conversion, that is just the beginning. If you know of a competitor’s offering that ...
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