CHARLESTON, S.C., Sept. 12, 2019 /PRNewswire/ -- Benefitfocus,
Inc. (NASDAQ: BNFT), a leading cloud-based benefits management
platform and services provider, today announced enhancements
available on the Benefitfocus Platform powered by its artificial
intelligence (AI) engine, BenefitSAIGE®.
BenefitSAIGE is the intelligence engine enabling several
capabilities such as Smart Moments, utilization reporting, plan
modeling, cost analysis and data quality reporting.
With this announcement, medical carriers and voluntary benefits
providers are equipped to offer an industry-leading AI-powered
consumer benefits experience, featuring Smart Moments and
Insights.
Benefitfocus President & CEO Ray
August introduced the enhancements at Carrier Place 2019,
the executive forum for leaders from the nation's top health
insurance carriers and voluntary and supplemental benefits
providers held at The Sanctuary on Kiawah Island Golf Resort, at
Kiawah Island, SC. In his
keynote address, August highlighted the capabilities and value
provided by BenefitSAIGE and emphasized the scale of AI-enabled
operations demonstrated over the past week with >200K Smart Moment alert messages being generated
by the MarketPlace Exchange integration engine.
"For our Benefitfocus MarketPlace customers, we are
providing a unique opportunity to lead and innovate by
leveraging the Benefitfocus platform. Our intelligent shopping
experience clearly differentiates and adds value to our medical
carrier customers by unlocking the power of their network through
our AI-powered smart moments and insights," August said. "The end
result is the kind of personalized and trusted benefits shopping
experience that consumers expect. This experience is now available
to each consumer connected via the Benefitfocus platform."
Medical carrier, voluntary and specialty providers are better
positioned to engage with consumers all year long by leveraging two
key BenefitSAIGE capabilities:
- Smart Moments – The BenefitSAIGE artificial intelligence
(AI) platform helps consumers make better benefit decisions by
offering insights that are data-driven and tailored to their stated
preferences. The integrated AI engine makes use of each consumer's
unique data while also considering benefit preferences of more than
25 million consumers processed by the Benefitfocus platform.
Leveraging this data, Smart Moments brings awareness for benefits
that are selected based on the personal data and preferences. To
further educate the consumer, each Smart Moment is accompanied by
an Insight, an analytical chart or relevant statistics to further
inform the consumer of each benefit.
- 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
to ensure effective and efficient communication with employees;
sending the right messages at specified instances to targeted
groups or to an entire 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 BenefitSAIGE AI engine effectively leverages both the data
provided by each individual and the extensive benefits and claims
data warehouse established over years of operation. Effective
use of the population health, benefits profile and transactional
data, securely managed by the Benefitfocus platform, representing
more than 25 million consumers and $17B
dollars in benefits payments, helps provide a personalized
experience with each Smart Moment and Insight. This combination of
a Smart Moment, further clarified by an Insights analytical
dashboard, helps educate each consumer on the benefits available to
them to help them to live their best life.
You can learn more about the Benefitfocus MarketPlace for
carriers and BenefitSAIGE here.
About Benefitfocus
Benefitfocus (NASDAQ: BNFT)
unifies the entire U.S. benefits industry on a single technology
platform to protect consumers' health, wealth, property and
lifestyle. Our powerful cloud-based software, data-driven insights
and thoughtfully designed services, enable employers, insurance
brokers, carriers and suppliers to simplify the
complexity of benefits administration and deliver a world-class
benefits experience. Learn more
at www.benefitfocus.com, LinkedIn and Twitter.
Except for historical information, all of the statements,
expectations, and assumptions contained in this press release are
forward-looking statements. Actual results or performance might
differ materially from those explicit or implicit in the
forward-looking statements. Important factors that could cause
actual results to differ materially include: the
need to innovate and provide useful products and services; our
ability to compete effectively; management of growth; the immature
and volatile nature of the market for our products and services;
our ability to maintain our culture and recruit and retain
qualified personnel; risks related
to changing healthcare and other applicable regulations; privacy;
security and other risks associated with our business; and the
other risk factors set forth from time to time in our SEC filings,
copies of which are available free of charge within the Investor
Relations section of the Benefitfocus website at
http://investor.benefitfocus.com/sec-filings or
upon request from our investor relations department. Benefitfocus
assumes no obligation and does not intend to update these
forward-looking statements, except as required by
law.
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SOURCE Benefitfocus, Inc.