For most American workers, enrolling in benefits is often a confusing and complicated experience. According to research,
This lack of understanding and quick-choice mindset can lead to employees being over- or under-protected, which can have a significant impact on their family’s financial future, which can also affect their professional lives. there is. But it doesn’t have to be this way.
Technology is rapidly changing the workplace benefits landscape. digital tools, data analysis,
Success begins with data-driven capabilities
At Prudential, we invest in new tools and capabilities that combine advanced technology, data science, and the human touch to help our clients make more informed decisions about benefits in the workplace. Analyzing an employer’s existing plans and employee demographics, participation and enrollment habits can help gather real-time data on employee happiness, plan options, and organizational productivity. All of this reflects how well-prepared employers are to identify gaps in their benefit programs and protect employees from risks that could impact their financial future, such as loss of income due to illness or injury. It helps you gain insight into what’s going on.
Additionally, data analysis helps design and deliver plans and tools that drive results. For example, employers can use personalization to measure how financially prepared their employees are if they experience a life-changing event such as premature death, loss of income due to illness or injury, or out-of-pocket expenses. Employee benefits can be evaluated and improved through the calculated score. Due to serious illness, accident, or hospitalization. This tool allows you to identify financial gaps and provide insight into coverage solutions that reduce coverage gaps based on age, gender, and salary.
Simplify the benefits experience and provide greater efficiency, accuracy, and transparency for employers.
PruExchange is a real-time data exchange system that leverages API capabilities and multi-platform partnerships to make technology work simpler and easier for customers. This streamlines the onboarding experience, eases plan management, increases awareness and education, and improves employee enrollment. According to historical data from ADP Workforce Now, 2021 Book of Business results, these technology capabilities have shortened the plan implementation process by two to three weeks.
A recent case study with a home building products manufacturer found that results exceeded client expectations and employees began a more holistic health journey through workplace benefits. An easy, multilingual, multichannel enrollment process and strategy that leverages our relationship with a unified benefits platform to drive awareness and education so employees can make holistic benefits decisions with confidence. I did. In fact, an internal Prudential case study found that 50% of a client’s employees purchased additional health insurance coverage during its open enrollment season, including accident, critical illness, and hospital coverage.
Combine digital tools with in-person education to help your employees achieve their goals and maximize profits.
Get better results by offering your institution or organization a suite of customized, year-round enrollment and engagement solutions, including digital, print, social, or in-person benefit fairs.
For employers, the combination of digital benefits education and human assistance increases awareness and encourages participation in a new suite of additional benefits products. The benefits platform’s partnership with Prudential allows clients to enhance their employee websites with enrollment-specific content, including detailed information and cost-benefit analysis of additional benefits. As a result, clients benefit from a clearer, simpler experience that exceeds their enrollment goals. In fact, internal Prudential case studies show up to 76% of total employees enrolling in additional benefits.
Innovative features and solutions — matched with