Benify makes insurance enrollment processes easier and more effective for carriers, brokers, HR managers, and employees alike.
November 18, 2016: Today, Benify announces enhanced enrollment capabilities to drive better distribution of and participation in workplace insurances, globally.
Benify has been helping HR managers build their employer brand by communicating and managing compensation and benefits since 2004. The SaaS portal gives employees a central hub in which the total employment offer—salary plus insurances, benefits, company perks, and employer investments— becomes transparent and accessible. In addition, HR can better understand its workforce and send personalized messages and invitations for offers, activities, programs, and trainings, all in support of employer branding and employee engagement strategies.
Applying Our Experience To Make Enrollment Easy, More Effective
Since beginning operations twelve years ago, Benify has been helping employers manage compensation and benefits globally. It has given employers a tool in which to present their employees worksite insurances in a way that makes them easy to understand and easy to elect.Increasingly, Benify applies its innovative technology and portal design to support carriers and brokers who sell and distribute worksite insurances to employees worldwide.
Product information and guidance is presented to employees centrally in an intuitive, friendly manner, so as to increase their understanding and likelihood to participate. Employees can access insurance descriptions and policy information; forecast the monthly cost of their selections for themselves and loved ones; update policy information; and keep track of their coverages. They can even sign documents electronically from their desktop or mobile phone.
“A smoother and more effective enrollment process for employees with information and guidance, means that insurances become approachable. The coverages are presented holistically, as part of financial protection and wellness. Furthermore, automation and seamless data transfer eliminate administration and even errors when HR managers report purchases back to the carrier or broker. Infact, Benify takes care of the full cycle for our clients,” explains Markus Kullendorf, Founder and Chief Executive Officer, Benify.
“Increased transparency and control through the Benify portal increases employees’ appreciation of what their employer has decided to offer through the insurance carrier and/or broker. And with easier enrollment processes for both the employee and the employer, the benefit take-up rate is also increased,” adds Mr. Kullendorf.
Increasing Employee Participation With Actionable Statistics
Benify works with the insurance carriers and benefit brokers to understand their clients’ needs and unique situations, as well as sales targets and product roll out schedules, in one country or several. The portal includes an administrator’s dashboard revealing which products are being selected by employees, and it offers trigger messages and reminders to increase product awareness, purchases, and even cross-selling opportunities.
“We are interested in making statistics and overviews actionable so we work with the carrier or broker to understand sales goals and priorities. Then, we develop messages that can easily be selected and pushed out to employees, who may not have logged in yet, read about the product or products, or understood the benefit,” says Åke Lundén, Founder and Chief Market Officer, Benify.
Engagement Campaigns To Drive Portal Activity
To help drive log in rates to the portal, Benify has dedicated engagement experts working with insurance carriers and brokers, and the HR managers that depend upon them.
“We understand that for carriers and brokers to evaluate sales—and for HR managers to analyze the attractiveness of benefit offers—employees must first enter the portal. This is why we have created a variety of launch guidelines, training modules, information packets, and even different activity packages depending on the workforce’s characteristics and the communication preferences,” explains Åke Lundén.
“Employee login rates are typically as high as 60% at launch but to increase portal usage and activity within the portal, we are able to monitor click throughs, pages visited, and even message open rates. Our engagement teams keep in contact with the carrier or broker to determine next steps based on goals,“ adds Mr. Lundén.
Benify showcased its enhanced enrollment capabilities at HR Tech in Paris on October 25th and 26th. Benify currently helps insurance companies and brokers plus financial institutions apply the portal technology and design to reach employees and increase participation.
Benify is a fast-growing HR tech leader helping companies around the world build a strong employer brand. Though its cloud based total compensation and benefits portal, Benify makes it Great at Work for 900,000+ employees worldwide, helping them see and appreciate the true value of their total reward. The result: increased engagement, higher satisfaction, easier recruitment. Headquartered in Stockholm, Sweden, Benify has been empowering human resource strategies since 2004.