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Press Release Benefitfocus Fall Software Release Offers AI-Based Advancements and An Expanded Portfolio |
Issued by Benefitfocus Oct. 2, 2019 |
New products and features build on strength of AI platform and advance the ecosystem approach to benefits management Charleston, S.C. - October 1, 2019 - Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today announced several product and catalog enhancements designed to boost consumers' education around benefits and make it easier for employers to streamline the benefits selection process. The upgrades demonstrate Benefitfocus' commitment to creating and expanding on its hyperconnected ecosystem for employers, suppliers, consumers and brokers, leveraging data and artificial intelligence (AI) designed to enable more meaningful interactions and new sources of value to customers. Workflows utilizing the BenefitSAIGE® artificial intelligence (AI) platform offer data-driven, tailored insights and an easily-managed communication system around their employer's benefit options. For the first time, in addition to the industry-leading pre-configured health, wealth, property and lifestyle products available as part of Benefitfocus' BenefitsPlace®, consumers will have the opportunity to access personal auto insurance underwritten by national insurers. Employers will also be able to offer employees an alternate payment method via their personal credit card, thus reducing the administrative payroll burden for HR Administrators. "We're especially excited about this release because it directly addresses many of the challenges employers and individuals face around benefits, by giving them the tools they need to become more educated in their selections through AI-generated insights and messages," said Benefitfocus CTO Jim Restivo. "We are also providing the ability to leverage group discounts for products, purchased by an individual with additional options for paying for the benefits they select." Upgrades Driven by BenefitSAIGE AI platform:
Erin Penland, CEBS, Sr. Benefits Specialist, Designer Brands Increasing Connectivity across the Benefits Ecosystem Benefitfocus offers two new ways to deliver more meaningful benefits with less friction and greater ease of processing and communication, thus enabling an effective hyperconnected ecosystem.
The Fall software release was driven by feedback received via Benefitfocus' Consumer NPS survey, which is helping to shape the evolution of its consumer experience. That feedback and the advancements produced from it continue Benefitfocus' focus on the consumer by delivering solutions that provide wisdom, increase productivity and improve lives. Connect with Benefitfocus About Benefitfocus Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results or performance might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; the immature and volatile nature of the market for our products and services; our ability to compete effectively; management of growth; our ability to maintain our culture and recruit and retain qualified personnel; risks related to changing healthcare and other applicable regulations; privacy; security and other risks associated with our business; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec-filings or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law. BL:hh |
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