DENVER--(BUSINESS WIRE)--Businessolver®, a leading SaaS-based employee benefits and HR technology provider, today announced its 2023 year-end results achieved by its empathetic service delivery for more than 800 clients. Key among the results is the enhancement of artificial intelligence (AI) throughout the company’s propriety platform, Benefitsolver. Businessolver was the first to deliver AI to the market through its virtual assistant, Sofia℠, in October 2017.
Businessolver introduced the following AI products and services in 2023:
- Virtual assistant enhancements: Businessolver was the first benefits administration platform to successfully integrate Microsoft Azure's Open AI into its proprietary AI models. This integration enhanced Businessolver’s virtual assistant, Sofia, improving the ability to handle complex questions and provide even greater self-service capabilities.
- Personalized interactive voice response (IVR): Businessolver introduced AI capabilities to personalize the IVR phone menu for employees based on prior interactions and real-time behaviors in the Benefitsolver system, providing employees answers faster than ever.
- Enhanced search functionality: With this enhancement, Sofia can perform more contextual searches across Benefitsolver. Providing a summary of relevant information and links to key documents, Sofia makes many self-service tasks instantaneous.
- Auto-transcription and call summarization for employee services: Businessolver delivered key automation into the Businessolver call center. Now, employee advocates can focus solely on the employee experience rather than documenting case notes. The enhancement cut after-call work in half, doubled average speed to answer and raised the call center’s NPS score during annual enrollment to above 72 (Excellent range).
The year’s outcomes underscore Businessolver’s market leadership and intentional growth in the HR technology and benefits administration space.
In its 25th year of business, Businessolver remained focused on transforming the benefits experience for its clients and employees, which together total more than 18 million lives. The company achieved this through key leadership promotions and strategic partnerships, as well as elevated service delivery and technology enhancements.
“By leaning in on our proprietary technology and insisting on empathetic service, our team accelerated market disruption, while also achieving double-digit growth for the business,” said Jon Shanahan, Businessolver CEO and president. “Going into 2024, we’ll challenge ourselves to achieve even greater results for our clients. Among our strategic imperatives is to push technology boundaries to ensure the employers who partner with us are ready for the future.”
Industry-first AI enhancements elevate employee experience, achieve ‘Excellent’ NPS rating.
In 2023, Businessolver delivered significant impact to its clients by expanding its market-first proprietary AI across the company’s Benefitsolver™ platform. These innovations directly address the challenges organizations face in driving meaningful employee benefits engagement and wellbeing support. Businessolver’s investment in AI centered around optimizing the employee experience, empowering them to access benefits information with ease, enroll in plans easily and understand their benefits spend.
Feedback from more than 250,000 employees surveyed by Businessolver via the Benefitsolver platform indicated that more than 84 percent of respondents expressed an overall ‘Excellent’ experience during their annual benefits enrollment.
AI technology advancements, including intelligent listening and auto-case summarization, also enabled Businessolver’s member services team to better support callers. The Businessolver members services team adheres to a “deliver delight” mission statement, the results of which can be seen in the team’s most recent NPS scores, an excellent 72.42 NPS rating for nearly 750,000 callers in Q4 2023 alone.
“There is no doubt AI has become table stakes in benefits technology. But all AI is not created equal,” said Rae Shanahan, Businessolver’s chief strategy officer. “Our proprietary AI technology has been purposefully designed with empathy at the center. That is a critical component to helping employees navigate what is an increasingly complex benefits landscape—all the while driving more precise, efficient and empathetic service. AI is the catalyst for an even more personalized employee experience—whether via phone, chat or other self-service channels. Our recent member NPS scores are proof of the tangible service outcomes empathetic AI—when combined with human expertise—is capable of driving.”
Empathetic technology helps employers manage costs and realize ROI.
Businessolver’s annual studies on workplace empathy and benefits insights revealed the impact of empathetic technology on HR efficiencies and organizational success. In response, Businessolver continues to invest heavily in product enhancements that drive efficiencies, ROI and insights for its clients.
Examples of Businessolver’s 2023 quick-to-market enhancements include:
- Enhancing dependent access to benefits: Members of an employee’s benefits plan now have improved access to their benefits information via the Benefitsolver desktop experience and the MyChoice mobile application.
- Expanded choice in benefit programs: In August 2023, Businessolver and the Aon Benefit Exchange announced an agreement to engage Businessolver’s technology as a preferred vendor. This is the first time since the Aon Benefit Exchange’s inception that a modern technology provider has been inducted to deliver a curated enrollment experience.
- Enhanced reporting: Clients with personalized engagement services now receive a quarterly report detailing employee engagement within the Benefitsolver platform. This gives employers greater insight into their population’s needs and desires. As an example, one employer learned that 54 percent of the employees who saw an option for tuition assistance clicked on it to learn more. Another learned that 50 percent of employees engaged in emails about surgery planning.
- Increased transparency and intelligence in MyChoice Accounts: Consumer accounts are one of the top focuses for any organization’s benefits plan. In 2023, Businessolver improved the omnichannel communication experience related to one of the most important employee needs—claims. To support this, Businessolver integrated claims details into its AI functionality within the MyChoice Accounts experience. This resulted in more transparency around claims status and substantiation requirements. Employees can now ask Sofia about claims statuses and next steps. They also have easier access to funds, as well as the option to use an updated communications program for a stronger understanding of their funds.
- Elevated mobile app experience: A 2023 upgrade to the employee MyChoice Mobile app created faster claims management, simpler debit card management and push notifications to give employees full visibility to their spending accounts.
- Improved HSA investment: Powered by DriveWealth and Sentinel Benefits, this partnership provides Businessolver clients’ employees the opportunity to invest in ETFs, as well as end-to-end management of their HSA accounts within their benefits platform.
Workplace empathy, innovation, organizational excellence and community impact are top priorities.
Businessolver was honored throughout 2023 with multiple technology, AI, innovation, culture and leadership accolades. These recognitions include:
- Second consecutive year on Forbes America’s Best Employers List
- Inc. Magazine’s Best in Business 2023 Award
- SaaS Awards 2023 Shortlist
In May 2023, the Businessolver Foundation, Businessolver’s philanthropic arm, set out on its inaugural service trip in Louisville, Kentucky, in partnership with Hand in Hand to support local causes and community members through The Hope Buss, Tip it Forward and Make-A-Wish. Businessolver employees spent a week serving those in need.
About Businessolver
Since 1998, Businessolver has delivered market-changing benefits technology the empowers empathetic service supported by an intrinsic responsiveness to client needs. The company creates client programs that maximize benefits program investment, minimize risk exposure, and engage employees with easy-to-use solutions and communication tools to assist them in making wise and cost-efficient benefits selections. Founded by HR professionals, Businessolver’s unwavering service-oriented culture and secure SaaS platform provide measurable success in its mission to provide complete client delight.
