Navigating Benefits: Benefitfocus Delivers Enhancements to Streamline Open Enrollment
On October 5, 2020, Benefitfocus (NASDAQ: BNFT) announced significant software updates aimed at enhancing user experience in benefit enrollment and administration. The updates leverage AI and analytics to support health plans, brokers, and consumers amid ongoing economic challenges. Key features include Quote-to-Pay Management, Smart Moments Event-Driven Messaging, and enhanced online chat capabilities. These enhancements are designed to streamline benefits management and provide deeper insights for employers to control healthcare costs, ultimately improving the entire benefits ecosystem.
- Introduced AI-driven enhancements to improve user experience.
- Launch of Quote-to-Pay Management for streamlined insurance processes.
- New Health Insights Administrator Dashboard for better cost control.
- None.
CHARLESTON, S.C., Oct. 5, 2020 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading technology platform provider enabling rapid innovation for employers, health plans and consumers, today announced software updates to its platform. Updates focus on leveraging AI and analytics to better support health plans, brokers, employers and consumers as they navigate benefit enrollment and administration, remote work, a multigenerational workforce, and the economic downturn.
"Benefitfocus continues to deliver value and ease of use for its customers by leveraging artificial intelligence, data and insights to improve our platform, the consumer experience and the entire benefits ecosystem," said Annmarie Fini, Executive Vice President, Customer Success, Benefitfocus. "Benefits administration is often challenging, and we want to help our customers by removing friction, improving insights and ensuring our connected ecosystem has the highest quality data to get the information they need quickly and easily."
How the software updates will simplify the benefits experience:
- Quote-to-Pay Management for Health Plans: A single, end-to-end solution that allows for the quoting, selling, enrollment and billing of insurance products through one system.
- Smart Moments Event-Driven Messaging: Usability enhancements including the ability to multi-select message settings and content, preview projected recipients, and access pre-built messages and templates from the Benefitfocus Community Resource Center.
- Enhanced Online Chat Creates Ease for Consumers: Allows another avenue for consumers to have their questions answered. Consumers can also use the AI-driven chat tool to submit documentation and access previous chat transcripts.
- Deeper Insights to Help Employers Control Health Care Costs: Includes new Health Insights Administrator Dashboard for employers, which provides access to health plan cost information, specific cost drivers and compliance categories, along with peer benchmarks, in an easy-to-consume dashboard format.
The Community Resource Center
Benefitfocus' investment in optimizing its solutions is enabled by the world's largest benefits community. Health plans, brokers, and employers all participate in an interactive online community generating new solution ideas that inform each of the Benefitfocus releases.
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About Benefitfocus
Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers for life. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services enable employers, insurance brokers, health plans and suppliers to simplify the complexity of benefits administration and deliver health, wealth, property and lifestyle products through 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; the immature and volatile nature of the market for our products and services; risks related to changing healthcare and other applicable regulations; our ability to maintain our culture and recruit and retain qualified personnel; privacy; security and other risks associated with our business; management of growth; 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.
FAQ
What are the new software updates announced by Benefitfocus on October 5, 2020?
How will the updates benefit health plans and employers?
What is the Quote-to-Pay Management feature introduced by Benefitfocus?
How does Benefitfocus' online chat feature work?
What is the Health Insights Administrator Dashboard?
