As part of its plan to expand its footprint in HR Tech, Corestream, a leading voluntary benefits SaaS provider that delivers a seamless experience to improve employee engagement and well-being, has appointed product veteran Boris Yovchev as its Chief Product Officer. Yovchev will ensure the best possible user experience for Corestream’s customer companies and their employees.
The move is the latest by Corestream to further innovate through continued investment in its intuitive platform, which delivers insurance benefits such as critical illness, long term care, pet, auto and home, as well as financial assistance programs and other health and wellness related offerings to more than two million employees. Enrollment through the Corestream platform contributes to employees’ tenure, inspiring them to stay six years versus three, according to a data science study conducted by Duke University. Employers see such benefits as a vital tool to retain talented employees and stem the “Great Resignation.”
“Human resources professionals have so much on their plates that educating employees on the idiosyncrasies of these voluntary benefits is a real challenge,” said Corestream founder and CEO Neil Vaswani. “Boris is focused on ensuring that each employee enrolls in the right benefit while preventing them from enrolling in the wrong benefits – these benefits are not one size fits all. They are complex and can be confusing for the employee, so our role is to demystify the features, so they’ll get the most out of them.”
Yovchev brings more than 10 years of experience in product management to this role. Prior to Corestream, he spent six years driving various parts of the customer-facing product strategy at Wayfair, where he helped personalize and differentiate the user experience based on customer habits, resulting in eight-figure incremental revenue growth.
“We see our role as a trusted guide to align the various products available with the employee’s personal needs, while cutting out the noise of things they don’t,” said Yovchev. “And once enrolled, we want these benefits to make a real impact on the quality of their livelihood, which will ultimately drive employee engagement and satisfaction and help employers recruit and retain top talent.”
Yovchev earned an MBA from the University of Michigan Ross School of Business. A native of Bulgaria, he currently lives in the Boston area with his wife and two sons.
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