Who We Are: The History of Benefeature and AskGMS

At Group Market Share, we believe in the power of data-driven decisions and innovative solutions. Our journey began with a simple yet powerful vision: to empower businesses with the tools they need to thrive in an ever-changing market landscape. Today, under the Group Market Share umbrella, Benefeature and AskGMS stand as testaments to our commitment to excellence and expertise in the industry.

Our Beginnings

Group Market Share was founded in 2001 with a clear mission: to bridge the gap between carriers, brokers, providers, and actionable market intelligence. In the early days, we recognized a significant challenge faced by companies within the group insurance industry – the inability to access, interpret, and leverage market data effectively. We saw an opportunity to create platforms that would not only provide valuable insights but also transform how businesses approach their strategic planning and decision-making processes.

AskGMS

AskGMS was established 23 years ago, laying the foundation for what would become a legacy of market intelligence excellence. From its inception, AskGMS was designed to fill a critical need in the industry: providing comprehensive plan design benchmarking, rate analysis, market share statistics, competitive intelligence, and strategic insights. The platform quickly gained a reputation for its reliability and depth of information, becoming a go-to resource for carriers seeking to understand market dynamics and competitive landscapes.

AskGMS leverages Sold Case and In-Force data reported directly by our participants, who are among the top carriers in the country for Disability, Dental, Life/AD&D, and Supplemental Health group benefits. This data is invaluable, providing real-time information on market dynamics and carrier performance. By analyzing this data, AskGMS delivers actionable information and strategic insights, equipping carriers with the knowledge they need to stay ahead in a competitive landscape.

Benefeature

Recognizing the evolving needs of the market, Group Market Share launched Benefeature in 2020. While AskGMS provided plan design benchmarking and broad market insights, there was a growing demand for detailed benefit analytics and insights that could help carriers, brokers, and providers understand the features that matter most to their customers. Our team of experts, with decades of combined experience in market research and data analysis, developed Benefeature to address this gap.

Benefeature’s core dataset is built on the robust Department of Labor Form 5500 filings. These filings provide a wealth of information about employee benefit plans, giving us deep insights into trends, broker and carrier competition, and much more. Through meticulous data collection, advanced analytics, and intuitive reporting, Benefeature enables our clients to make informed decisions about product offerings, customer retention / distribution, and market strategies.

Enhancing Benefeature with AskGMS Data

One of the unique strengths of Group Market Share is our ability to integrate the unparalleled data from AskGMS with the foundational insights from Form 5500 filings. This integration allows us to use advanced analytics and modeling to enhance the Form 5500 data, making Benefeature the most advanced and insightful platform in the industry.

The power of AskGMS data, found nowhere else in the market, lies in its depth and accuracy. By combining this proprietary data with Form 5500 filings, we can provide a more comprehensive and nuanced understanding of the market. Our advanced analytics and modeling techniques enable us to uncover patterns, trends, and correlations that would otherwise remain hidden. This enriched dataset allows our clients to gain deeper insights into market behavior, customer preferences, and competitive dynamics.

Our Expertise

Our expertise is rooted in our deep understanding of market dynamics and our commitment to continuous innovation. The team at Group Market Share comprises industry veterans and technology enthusiasts who share a common passion for helping our clients succeed. Our collective experience spans various industries, allowing us to offer tailored solutions that address the unique challenges faced by our clients.

We pride ourselves on being more than just a data provider. We are strategic partners to our clients, working closely with them to understand their needs, provide customized solutions, and drive meaningful results. Our platforms, Benefeature and AskGMS, are built on a foundation of rigorous research, robust technology, and an unwavering commitment to quality.

Why Choose Us?

• Proven Track Record: Over the years, we have established ourselves as trusted experts in market intelligence and feature analytics. Our platforms are used by businesses of all sizes, from small brokerages to some of the largest carriers in the country.

• Innovative Solutions: We invest heavily in research and development to ensure our platforms remain at the forefront of technological innovation. Our clients benefit from the latest advancements in data analysis and market research.

• Customer-Centric Approach: Our clients' success is our success. We prioritize customer satisfaction and work diligently to provide exceptional service and support.

• Comprehensive Insights: Whether through Benefeature's feature analytics or AskGMS's market intelligence, we offer a holistic view of the market, enabling our clients to make informed, strategic decisions.

Looking Ahead

As we continue to grow and evolve, our mission remains the same: to empower carriers, brokers, and providers with the insights they need to thrive. We are excited about the future and the opportunities it holds for us and our clients. With Benefeature and AskGMS, Group Market Share is committed to driving innovation, delivering value, and setting new standards in the industry.

Thank you for being a part of our journey. We look forward to continuing to serve you with excellence and expertise.

- The Group Market Share Team

For more information about Benefeature and how it can help your business, visit Benefeature.

To explore the capabilities of AskGMS and gain deeper market insights, check out AskGMS.