How MBA Used Technology and Data to Enhance a Benefit Portfolio

Company Overview

This beverage distribution client had 325 employees and was headquartered in Pittsburgh, PA. Of those 220 employees, 80 were located in offices located in other states.

Key Challenges

The company had a comprehensive benefit package but were experiencing difficulties in managing the benefit program. Additionally, employees found it difficult to navigate their benefits, resulting in underutilization and dissatisfaction. They were looking to improve both areas and came to us for assistance.

MBA Solution Presented

We outlined a benefits technology strategy that would work through the implementation of a data driven platform that personalized benefits offerings and streamlined administration. We also provided them with a few potential providers and helped them vet each to determine the best fit. Key features of this transformation included:

1. AI-Powered Benefits Selection - Using machine learning, the platform analyzed employee demographics, health history, and usage patterns to suggest tailored benefits. Employees received personalized recommendations, increasing enrolment in relevant programs.
2. Wearable Technology Integration - The company provided employees with wearable fitness trackers linked to the benefits system. Employees who met activity goals received lower health insurance premiums and wellness rewards. This incentivized healthier lifestyles, reducing healthcare costs.
3. Real-Time Data Insights - HR managers gained access to analytics dashboards that provided real-time insights into benefits utilization. This enabled proactive adjustments, such as adding mental health resources after identifying an increase in stress-related claims.
4. Automated Benefits Administration - A cloud-based automated system provided enrollment, claims processing, and compliance tracking. Employees accessed their benefits via mobile app, improving convenience and engagement.

Measurable Results

Within a year, this company saw a 30% decrease in benefits utilization, a 25% reduction in administrative costs, and a 15% improvement in employee satisfaction scores. Additionally, healthcare claims decreased by 10%, demonstrating the effectiveness of wellness initiatives.