Picwell and Brown & Brown Partner to Deliver Benefits Decision Support Worldwide

Rhea-AI Summary

Picwell has partnered with Brown & Brown (NYSE: BRO), enhancing benefits decision support for over 30 million employees. This partnership allows Brown & Brown customers access to Picwell's advanced AI-driven benefits solution, simplifying decision-making in healthcare plans. Picwell aims to educate employees on benefits options effectively, potentially saving them over $1,000 annually and benefiting employers by saving up to $94 per user. The collaboration aligns with Picwell's mission to empower employees, making healthcare benefits easier to understand.

Positive

• Partnership with Brown & Brown expands reach to over 30 million employees.
• Picwell's AI-driven platform helps employees make informed benefits choices, potentially saving them $1,000 annually.
• Employers may save up to $94 per user per year after implementing Picwell.

Negative

• None.

PHILADELPHIA, Oct. 20, 2020 /PRNewswire/ -- Furthering its mission to empower wise benefits choices worldwide, Picwell is pleased to announce it has entered into a strategic partnership with Brown & Brown, Inc. (NYSE: BRO), the fifth-largest insurance brokerage in the nation, as ranked by Business Insurance.

Through this partnership, Picwell's innovative solution will be made available to Brown & Brown's customers that represent over 30 million employees across the country, allowing them easy access to Picwell's comprehensive benefits decision support solutions.

"Benefits decisions are one of the largest annual purchase decisions that people make. It can be challenging for people without a deep understanding of benefits to balance benefit levels and personal needs to make an informed decision. To help our customer's employees get the most out of their benefits plan, Brown & Brown is proud to partner with Picwell," said Steve Piccolino, Vice President, National Benefits Technology for Brown & Brown. "Born from the Wharton School, Picwell's approach simplifies the decision-making process through employee insights and AI on over 39 million healthcare purchasing decisions. With Picwell, employees don't have to be benefits experts, but they can be confident that they made an informed decision that will meet their unique benefits requirements. We look forward to expanding our partnership with Picwell."

Together, Picwell and Brown & Brown will work to not only provide employers the tools they need to ensure successful enrollment processes but also to help solve one of their biggest challenges during benefits enrollment: getting employees enrolled in the right plans. With Picwell, organizations can educate employees on all benefits offered, including medical and supplemental benefits, and even health savings accounts (HSAs).

Picwell's unique tool utilizes artificial intelligence (AI) in order to determine the best plans for an employees' individual needs and guides them to the right plans based on their personal preferences - all in less than 10 minutes.

"At Picwell, our mission is to make health care benefits easy to understand and empower employees to make wise choices," said Matt Sydney, CEO of Picwell. "This partnership with Brown & Brown will make our solution available at an even larger scale and will allow millions of employees to benefit from our AI-driven platform."

A recent study found that 92% of employees choose the same health insurance plan year over year, even though there may be better options available. Picwell provides comprehensive education in order to guide employees to the best plans for their needs. On average, Picwell users save $1000 more per year when they choose a recommended plan and employers have saved up to $94 per user per year after implementing Picwell.

About Picwell
Picwell is a healthcare technology company providing enterprise solutions to enhance health insurance and employee benefits and improve consumer experiences. Its flagship offering, Picwell DX, is a SaaS-based decision support product that uses artificial intelligence to match individuals to the right health benefits during enrollment by predicting future care considerations, estimating out-of-pocket expenses, and accounting for individual preferences. Visit picwell.com to learn more.

About Brown & Brown
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, providing risk management solutions to individuals and businesses. With a long-standing history of proven success and thousands of teammates, we offer knowledge you can trust and strive to deliver superior customer service. For more information, please visit bbinsurance.com.

Contact:
Ben Pitts
SVP, Sales & Marketing
bpitts@picwell.com

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SOURCE Picwell, Inc.

FAQ

What is the significance of Picwell's partnership with Brown & Brown (NYSE: BRO)?

The partnership significantly enhances Picwell's access to over 30 million employees, providing them with better benefits decision support.

How can employees benefit from Picwell's AI-driven platform?

Employees can save over $1,000 annually by choosing recommended plans that best meet their healthcare needs.

What potential savings can employers achieve through Picwell's services?

Employers may save up to $94 per user per year after implementing Picwell's decision support solutions.

When was the partnership between Picwell and Brown & Brown announced?

The partnership was announced on October 20, 2020.