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Alight, Inc. (NYSE: ALIT) is a leading cloud-based provider of integrated digital human capital and business solutions. Alight leverages its proprietary AI and data analytics to optimize Business Process as a Service (BPaaS), delivering superior outcomes for employees and employers across a comprehensive portfolio of services. With a staunch belief that a company's success starts with its people, Alight helps organizations of all sizes enrich employee health, wealth, and work while fostering a high-performance culture.
Alight's innovative solutions include benefits administration, healthcare navigation, payroll processing, and HR management, all unified under the Alight Worklife® platform. This platform combines data-driven insights with a seamless user experience, enabling 36 million people and dependents to make confident health, wealth, and wellbeing decisions.
In 2023, Alight reported notable financial achievements, including robust BPaaS bookings of $261 million in Q4, annual cash from operations increasing by $100 million to $386 million, and surpassing its adjusted EPS guidance range. For 2024, Alight has $3 billion of revenue under contract, underscoring its strong market position.
Alight continues to innovate and expand its offerings. Recent highlights include the integration of SAP S/4HANA Cloud into its payroll services, new enhancements to its LeavePro absence management software, and strategic partnerships. The company’s focus on delivering personalized, data-driven solutions helps employers optimize costs, improve employee engagement, and achieve better outcomes.
Headquartered in Lincolnshire, Illinois, Alight employs over 15,000 dedicated colleagues who serve more than 30 million employees and family members. The company prides itself on its commitment to sustainability, diversity, and ethical business practices, as demonstrated in its 2024 Global Impact Report.
For more information, visit Alight's website.
Alight (NYSE: ALIT) has announced the first major release of Alight Worklife® for 2025, enhancing its core health, wealth, wellbeing, navigation, and absence management solutions. Key features include Microsoft Teams integration, allowing employees to access benefits and receive AI-powered recommendations within Teams, and a new Employer Reporting and Analytics platform powered by Alight LumenAI™.
The release introduces Alight IRA, offering Traditional and Roth options with easy rollover capabilities. Additional improvements include expanded AI automation in claims processing, enhanced shared access for spouses, and a Programs Library featuring over 188 integrated vendors. The platform also streamlines health and absence management with a new Life Event Verification solution, multi-lingual capabilities, and improved leave claim tracking.
Alight (NYSE: ALIT) has announced the promotion of Rob Sturrus to the position of Chief Client Officer. Sturrus, who previously served as Executive Vice President of Health and Wealth Solutions, brings over 25 years of experience with Alight and its predecessor companies. Throughout his career, he has progressed from an analyst to various client-focused leadership roles, managing multinational client portfolios and overseeing thousands of colleagues in benefits administration services.
CEO Dave Guilmette highlighted Sturrus's deep industry knowledge and client understanding as key qualities that will enable him to lead client teams in maximizing the value of the Alight Benefits Advantage™. In his new role, Sturrus will focus on creating meaningful employee experiences and driving business success for Alight's clients.
Alight (NYSE: ALIT), a cloud-based human capital and technology-enabled services provider, announced key leadership changes. Effective January 1, 2025, Allison Bassiouni will be promoted to Chief Delivery Officer and Deepika Duggirala to Chief Technology Officer. Allison, currently EVP of Customer Experience and Delivery, has over 25 years of industry experience and will focus on enhancing service delivery and client success. Deepika, EVP of Technology since 2023, has extensive experience in technology leadership and will drive innovation, particularly in AI and automation. The transition follows the departure of Greg Goff, who will leave Alight on January 31, 2025, after leading delivery and technology functions and serving as President. CEO Dave Guilmette expressed confidence in the new appointments to drive growth and client value.
Alight has released its 2024 annual enrollment analysis, revealing significant shifts in employee preferences for healthcare benefits. Nearly 96% of employees enrolled through digital channels, with mobile app usage soaring by 69% compared to 2023. A steady 74% of employees opted for employer-sponsored plans, with Preferred Provider Organizations (PPOs) leading at 40% and High-Deductible Health Plans (HDHPs) at 36%. Health Savings Account (HSA) contributions continued to rise, with 72% of eligible employees participating, up from over 60% in 2023. Interest in voluntary benefits also grew, with supplemental health coverage rising to 33% and Spouse Whole Life coverage increasing by five points.
Employers are encouraged to adopt a technology-first approach to benefits enrollment, offering personalized tools and guidance to meet the diverse needs of their workforce. Despite high digital engagement, fewer than two-thirds of employees felt confident in their health plan choices, highlighting the need for better decision-making tools and ongoing support.
Alight (NYSE: ALIT), a cloud-based human capital technology and services provider, has announced that Cannae and Board Chairman William P. Foley, II sold 12 million shares of Alight's common stock. The sale was conducted to address Cannae's liquidity requirements, as the company does not generate operating income. Foley stated that Cannae has no plans for additional Alight share sales in the near future and maintains strong confidence in Alight's long-term prospects and financial profile.
Alight (NYSE: ALIT) announced that CFO Jeremy Heaton will present at the UBS Global Technology and AI Conference in Scottsdale, Arizona. The presentation is scheduled for Wednesday, December 4, 2024, at 12:15 p.m. MST and will be accessible through a live webcast with replay availability.
Alight (NYSE: ALIT) announced a collaboration with Avanade to integrate Alight Worklife® with Microsoft Teams, enhancing employee benefits experience. The integration will provide seamless access to benefits and wellbeing information directly within Teams platform.
Key features include AI Personalized Recommendations, an Interactive Virtual Assistant offering 24/7 support, Account Summary dashboard, and secure authentication. The application will be available to employers using both Teams and Alight Worklife in the next platform release.
Alight (NYSE: ALIT) reported Q3 2024 results with revenue of $555 million, a slight decrease of 0.4% year-over-year. The company achieved notable wins with Hewlett Packard Enterprise, Nokia, and Siemens. BPaaS revenue grew 18.6% to $121 million, representing 21.8% of total revenue. Gross profit margin improved to 31.4% from 29.8%. The company initiated a quarterly dividend program of $0.04 per share and repurchased $75 million of common stock. Alight raised its revenue guidance range for Q4 2024 to $665-685 million, with adjusted EBITDA expected between $208-233 million.
Alight's 2024 International Workforce and Wellbeing Mindset Study reveals a significant decline in employee wellbeing, with only 44% rating their wellbeing positively - a seven-point drop from last year. The study highlights that 41% of employees would reconsider leaving their jobs if offered better benefits, while one in five are actively seeking new employment within the next year.
Key findings show that workers are experiencing increased stress and burnout, with 43% reporting burnout symptoms affecting their work. Financial challenges are prevalent, with nearly half of workers just getting by. The study emphasizes that employers offering comprehensive support tools see better outcomes: 57% of supported employees report positive wellbeing compared to 42% of unsupported employees, and 61% versus 46% rarely consider leaving their current position.
Alight (NYSE: ALIT) has scheduled its third quarter 2024 financial results announcement for Tuesday, November 12, 2024. The company will release results before the market opens, followed by a management discussion webcast at 8:30 a.m. ET. The webcast and financial presentation will be accessible to the public through the Events & Presentations section of the company's website.
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