New Products and Features Build on Strength of AI Platform and Advance the Ecosystem Approach to Benefits Management
Benefitfocus, Inc., a leading cloud-based benefits management platform and services provider, announced several product and catalog enhancements designed to boost consumers’ education around benefits and make it easier for employers to streamline the benefits selection process. The upgrades demonstrate Benefitfocus’ commitment to creating and expanding on its hyperconnected ecosystem for employers, suppliers, consumers and brokers, leveraging data and artificial intelligence (AI) designed to enable more meaningful interactions and new sources of value to customers.
Workflows utilizing the BenefitSAIGE artificial intelligence (AI) platform offer data-driven, tailored insights and an easily-managed communication system around their employer’s benefit options. For the first time, in addition to the industry-leading pre-configured health, wealth, property and lifestyle products available as part of Benefitfocus’ BenefitsPlace, consumers will have the opportunity to access personal auto insurance underwritten by national insurers. Employers will also be able to offer employees an alternate payment method via their personal credit card, thus reducing the administrative payroll burden for HR Administrators.
“We’re especially excited about this release because it directly addresses many of the challenges employers and individuals face around benefits, by giving them the tools they need to become more educated in their selections through AI-generated insights and messages,” said Benefitfocus CTO Jim Restivo. “We are also providing the ability to leverage group discounts for products, purchased by an individual with additional options for paying for the benefits they select.”
Upgrades Driven by BenefitSAIGE AI platform
- Smart Moments – Consumers can receive insights that are data-driven and reflect their stated preferences. The integrated AI engine makes use of each consumer’s unique data while also factoring benefit preferences of more than 25 million consumers processed by the Benefitfocus platform. Leveraging this data, Smart Moments brings awareness of benefits based on personal data and preferences. To help further educate the consumer, each Smart Moment is accompanied by an easily consumable and decision-relevant Insight, delivered in the form of a chart or statistic.
- Smart Moments Console – The new and differentiated experience provided via Smart Moments and Insights can be easily managed by the Benefitfocus system administrator via the Smart Moments Console. The console provides a singular point of control designed for effective and efficient communication with employees; sending tailored messages at specified instances to a subset or the entirety of an employee population. The console distinguishes between Scheduled, Event-Based and On-Demand messages. In addition, administrators are provided options for personalizing messages and specifying follow-up action.
“The broad range of communication tools was one of the main reasons we decided to partner with Benefitfocus. With how quickly we were growing, we needed a platform where associates could get all of the information they needed around their benefits and our team could take advantage of new tools to drive communication efforts.”
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Erin Penland, CEBS, Sr. Benefits Specialist, Designer Brands
Increasing Connectivity across the Benefits Ecosystem
Benefitfocus offers two new ways to deliver more meaningful benefits with less friction and greater ease of processing and communication, thus enabling an effective hyperconnected ecosystem.
- SelfPay – SelfPay provides employers with the ability to offer an alternate payment method (direct via credit card) to their employees. It helps expand benefits offerings without introducing any payroll deduction administrative burden–which often deters employers from providing more robust benefit programs to attract and retain top talent.
- Personal Auto Offerings – Employers can now offer auto coverage from nationally recognized carriers at discounted prices year-round, all within a simplified consumer shopping experience that brings their benefits into one user experience. Using our library of API connections, employees are now able to easily obtain rates and quotes from their employers’ chosen carriers directly from Benefitfocus.