3 ways employers can leverage technology to help boost employees’ benefits engagement

As the technology landscape continues to evolve, some companies are increasing their digital footprint as an opportunity to differentiate themselves in the market, particularly when it comes to workplace benefits. According to recent LIMRA research, more than two-thirds of workplace benefit carriers spent more on digital initiatives in 2023 than they did the previous year, and three-quarters of carriers are expecting their overall level of digital investment to increase over the next three years.

Leveraging technology to make business processes more efficient can go a long way to help increase employee engagement. But for employers, knowing where and how to expand one’s digital footprint can be a challenge. With this in mind, here are three areas employers can consider when it comes to leveraging technology intended to help boost employee engagement, save time and help improve outcomes by simplifying decision-making.

Seek carriers that prioritize employee engagement in their own technological developments

In recent years, some benefits carriers have leveraged technology to enhance the claimant experience, making it a key part of their sales strategy. For example, innovative developments of “intuitive claim models” and “robust integration processes” within the supplemental health space aim to increase benefits usage while reducing employee effort in filing claims.

These processes leverage available data to identify potential covered events, even going so far as to proactively pay certain claims. This helps employees receive benefits they might otherwise overlook, minimizing their financial impact. Proactive notifications and educational materials can help engage employees and remind individuals to file claims. Our claims center has seen great success with its own processes: showing a 17% click rate and 40% open rate for Medical Claims Integration (MCI) “nudge” emails.

As claims integration continues to evolve into a “must-have” in the workplace benefits space, it’s crucial for employers to collaborate with their brokers to thoroughly evaluate prospective carrier offerings and identify the value they bring to the table. By choosing a carrier with a tech-driven strategic roadmap focused on enhancing the claimant experience, employers can help boost employee engagement and satisfaction.

Consider decision support

Navigating benefits enrollment can be overwhelming for employees. To enhance engagement and help employees make more-informed choices, many employers turn to one of the many decision-support tools on the market. Some of these tools leverage an interactive conversation style to help guide employees, while others have enabled an artificial intelligence (AI) interview approach, asking personalized questions to arrive at their guidance. Some of these tools integrate broader financial wellness support into benefits selection by providing a comprehensive view of both employer-sponsored benefits and one’s personal finances, helping employees manage their overall financial health.

As many individuals are juggling multiple priorities, digital guidance tools can help make it simpler for employees, save them time and, in many cases, help them make more-informed decisions. The good news is more employees are looking for support as recent research from Voya Financial has found 50% of employed Americans are more likely to stay with their current employer if offered access to digital tools and advice to help them make retirement plan and workplace benefit-related decisions. Knowing tools like this are important to employees, providing this type of support can help simplify the benefits decision-making process for employees and get their workplace benefits and savings in sync.

Leverage employee data to measure the success of ongoing programs

Employers have every right to request visibility into participation results and performance on credible business. A great way to ensure their insurance carriers demonstrate the ongoing value of benefit plans is through regular stewardship meetings, held annually or biennially. These meetings provide an opportunity to discuss enrollment conditions, participation levels and plan performance, and they can be a reliable way to identify trends early on. This proactive approach allows for timely adjustments, such as targeted marketing campaigns or modifications to specific benefits, ensuring plans are customized to the group’s needs and are being used as expected.

Related: How technology can help employers increase HSA & FSA adoption

Additionally, these meetings can encourage strong connections among all parties, fostering continuous engagement and collaboration. By regularly reviewing and adjusting benefit plans, employers can aim to meet employees’ needs effectively and maintain high levels of satisfaction and engagement.

Creating a culture of wellness requires employers to be aware of their employees’ varying needs and ensure they are meeting them. By leveraging technology, employers have an opportunity to address employee wellbeing, simplify experiences and advance product design to fully support the health and wealth needs of their workforce.

Sarah Thacker is the vice president of Enterprise Claims at Voya Financial. She leads claims operations for a wide portfolio that includes Stop Loss, Life, Disability, Leave, HAS, and Supplemental Health. She has been in the industry for over 15 years with experience spanning claims, compliance, underwriting and sales.