Technology continues to permeate many aspects of today’s workplace and the area of benefit administration is no exception.
Digital platforms provide tools that are intuitive, intelligent and accessible 24/7, enabling employees to easily access and use their benefits from anywhere. Chatbots, as an example, are becoming much more commonly utilized as an HR tool. It is not uncommon today for an employee to strike up a conversation with one of these AI-based systems when seeking answers from a carrier regarding their benefits.
Here are a few other ways you can utilize technology to enhance employee benefit administration:
Digitizing to Improve Efficiencies
Conversion of data from paper-based records to a digital format can drastically improve access to benefits, allowing a more efficient transfer of data between the company, carriers, payroll company and other vendors.
Streamlining the Benefits Experience
Through benefit administration platforms, employees can access benefit data and process enrollment and eligibility actions from anywhere, anytime. As an added bonus, by streamlining the employee benefit experience, companies can ease the burden on their HR staff, saving them valuable time and money.
More Easily Maintain Compliance
With the amount of data involved in benefit administration today, along with the fluidity of compliance rules and regulations, it’s easy to make mistakes and fall out of compliance. Through digital platforms, not only is data more easily and accurately maintained, but many vendors include compliance resources to assist a business owner or HR staff in compliance issues.
My Benefit Advisor (MBA) guides employers of all sizes through planning, communicating, and managing a successful employee benefits program. We are ready to help you find the solution that fits your needs, from group insurance to individual coverage. For more information about MBA, contact us.