CHARLESTON, S.C., Oct. 1, 2019 /PRNewswire/
-- Benefitfocus, Inc. (NASDAQ: BNFT), a
leading cloud-based benefits management platform and services
provider, today 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."
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.
Consumer Feedback Feeds Innovation
The Fall software
release was driven by feedback received via Benefitfocus' Consumer
NPS survey, which is helping to shape the evolution of its consumer
experience. That feedback and the advancements produced from it
continue Benefitfocus' focus on the consumer by delivering
solutions that provide wisdom, increase productivity and improve
lives.
Connect with Benefitfocus
To learn more about these
updates and the Benefitfocus MarketPlace, click here.
Like Benefitfocus on Facebook:
https://www.facebook.com/Benefitfocus
Follow @benefitfocus on Twitter
Follow Benefitfocus on Twitter
Follow Benefitfocus on Instagram
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; the
immature and volatile nature of the market for our products and
services; our ability to compete effectively; management of growth;
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.