Three New Solutions for Every Health Insurance Carrier's Wishlist
  • Benefits Strategy

3 New Solutions for Every Health Insurance Carrier's Wish List

The well-known phrase "it takes a village" is something that rings true in today's health and benefits landscape. In this instance, it's not to raise a child, it's to protect a consumer. That's why Benefitfocus recently brought together leaders from the nation's top health insurance carriers as well as life & ancillary benefit providers, brokers and industry thought leaders at the company's annual Carrier Place event.

This year's event provided an executive forum to focus on driving new thinking around inspiring consumers to interact and engage with their health and benefit plans. To make that happen, carriers have to equip the employers that are administering these benefits for their employees as well as the brokers that are quoting and supporting these groups. There's also the need for strategic partners that enhance benefit programs and address consumers' needs beyond just health care. So you can imagine the excitement when Benefitfocus unveiled three new solutions that would enable everyone (aka the village) across the ecosystem to come together and deliver a superior consumer experience.

Benefitfocus MarketPlace™ for Carriers

From group quoting to billing and payments, Benefitfocus MarketPlace for Carrier provides a single, end-to-end platform for health insurance carriers to support the diverse needs of their customers and, ultimately, optimize, grow and transform their business. 

  • Optimized workflow: Carriers can increase operational efficiency via a single platform with automation and real-time integrations across systems while equipping their broker community with the sales, management and service delivery tools they require.
  • Growth-focused opportunities: Carriers will have the opportunity to differentiate their offering and create a competitive advantage in the group and individual markets with the ability to add industry-leading health, wealth, property and lifestyle products with Voluntary MarketPlace for Carriers®.
  • AI-driven transformation: Powered by Benefitfocus' AI engine BenefitSAIGE™, MarketPlace enables carriers to accelerate transformation of their business by creating a more personalized benefits experience that provides meaningful guidance and recommendations during enrollment and throughout the year. 

MarketPlace Exchange 2.0

As a component of Benefitfocus MarketPlace for Carriers, MarketPlace Exchange provides high-quality data integrations that enable carriers to gain operational efficiencies while delivering the same seamless benefits experience for groups using third-party benefit administration systems. 

  1. Enhances communication and collaboration with members through user-friendly content management tools.
  2. Improves data access and analytics for member populations and employers using disparate enrollment systems.
  3. Complement existing offerings with additional best-in-class voluntary and specialty benefits choices.

Expanded AI Capabilities

Benefitfocus' superior AI guidance engine, BenefitSAIGE, leverages population health, benefit profile and transactional data that is securely managed within the Benefitfocus Platform to provide a more personalized, intelligent benefits experience. By leveraging two key BenefitSAIGE capabilities, health insurance carriers, voluntary and specialty providers are better positioned to engage with consumers all year long:

  • Smart Moments: The integrated AI engine increases awareness of benefit options 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 administrators, via the Smart Moments Console. The console provides a singular point of control to enable effective and efficient communication with employees; sending the right messages at specified instances to targeted groups or to an entire employee population. In addition, administrators are provided options for personalizing messages and specifying follow-up action.

Want to be there when Benefitfocus announces more innovative solutions for carriers? Join us at One Place 2020!