PlanSource, a leading provider of cloud-based benefits administration technology, announced today the launch of its Spring Product Release. Available April 27 to all PlanSource customers and partners, the Spring Release continues pushing the bounds of employee and benefits engagement with a new enhancement to The Source product called The Source Personalize+.
PlanSource has partnered with Evive, the leader in digital engagement and communications technology, to power The Source Personalize+. Together, this partnership has created a powerful new solution to make it even easier for employees to choose and successfully use their benefits.
“We’re thrilled to partner with PlanSource and deeply integrate our technology into their platform,” said John McDonnell, Evive’s president and Chief Executive Officer. “Evive leverages personalized, data-driven messaging to drive the right person to the right benefit at the right time – optimizing the employee experience, maximizing benefits utilization and delivering measurable outcomes.”
The Source Personalize+ blends claims and employee data to deliver targeted, relevant messaging to employees when they need it most. Through hyper-personalized communications, The Source Personalize+ will encourage employees and their families to take action to utilize their benefits better and improve their overall well-being. The Source Personalize+ offers a multi-pronged approach to personalization, including:
- Predictive analytics – use of data, statistical algorithms and machine learning to identify the likelihood of future needs.
- Gaps in care – identifying differences between recommended care and the care an individual receives.
- Micro-segmentation – targeting of a specific group within a population based on shared attributes such as location, demographics, health conditions or predictive behaviors.
- Behavioral science – leveraging the most effective messaging for each employee to motivate them to act.
- Closed-loop reporting – ability to track and monitor actions taken and better understand the value of investment across the benefits ecosystem.
More employers are offering Supplemental Health (Accident, Critical Illness and Hospital Indemnity) benefits to employees to help cover out-of-pocket costs and provide peace of mind. But a recent SHRM article shows that employees want voluntary benefits, but few understand how to use them once elected. Carriers, insurance brokers and HR teams all face many challenges trying to address this need. Therefore, in addition to the gaps in care and cost avoidance messaging delivered through The Source Personalize+, PlanSource is partnering with these leading insurance carriers; each focused on improving the utilization and perceived value of their Supplemental Health programs: Aflac, Guardian Life, Prudential, Reliance Matrix and Unum.
By actively addressing this challenge, The Source Personalize+ will further integrate automated Supplemental Health messaging into the solution, further expanding the benefit plans that PlanSource impacts. PlanSource will establish campaigns for each participating carrier connecting the Supplemental Health plans to medical plan usage allowing automated messages to be delivered on behalf of the carrier.
“PlanSource has built a foundation on helping employees choose their benefits through a best-in-class benefits shopping platform; now, with The Source, we are connecting employees with how actually to use those benefits,” says Bradley Taylor, Chief Strategy Officer at PlanSource. “With The Source Personalize+, we will deliver personalized and automated smart messages at the right time, sparing the HR team from the heavy lifting. I’m excited about the problems this solution will solve and the data it delivers to our HR and broker leaders about how employees use their benefits.”
Other important features included in the Spring Product Release are:
- IQ Enhancements – Based on customer feedback, PlanSource has invested in new enhancements to the IQ Suite to make tasks easier to complete. On the ROI dashboards, a new section has been added that highlights critical and historical ROI metrics, including cost savings of not covering dependents and time saved by using DependentIQ. Additionally, several new verification models have been added, including adoption certificates, proof of custody and hospital record-of-birth to DependentIQ.
- New Enrollment API Integrations with Boost Carriers – As part of the Boost experience, PlanSource has developed industry-first, real-time APIs that customers can use to streamline and simplify the benefits experience. Coming soon, Aflac and The Hartford will go live with the Enrollment API integration.
PlanSource launches major software releases three times a year and conducts ongoing updates and enhancements throughout the year. More details about the Spring release can be found at plansource.com/release.
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