WEX, the global commerce platform that simplifies the business of running a business, has officially announced a partnership with select employers to pilot two new artificial intelligence (AI) enhancements embedded within WEX’s benefits administration platform called My Benefit Express.
According to certain reports, these two AI enhancements are understood to be Benefit Assistant and BeneFITwise Premier, each solution well-equipped to harness AI for the purpose of providing employees with personalized and actionable insights that can help them make informed decisions about their benefits.
Talk about each solution on a slightly deeper level, we begin from how all participating employers canleverage Benefit Assistant, an AI agent, within WEX’s My Benefit Express to provide interactive support for their teams in regards to selection and utilization of health and voluntary benefits.
WEX’s Benefit Assistant can basically provide personalized support for more than 1,500 benefits-related topics and commonly asked questions, ranging from how to enroll, to changing an address, requesting an insurance card, or adding a dependent. Hence, such a setup should empower employees to make informed decisions, reduce the number of inquiries directed to HR departments, and free up valuable time and resources for more strategic initiatives.
Served through a rather familiar interface, the core mechanism here is built on using generative AI technology to provide personalized assistance with tasks such as understanding plan details, adding dependents, and navigating life events like marriage or the birth of a child.
Making the whole proposition all the more impressive is a prospect of human-like interactions which, by the way, are facilitated without using any complex jargon at any point to help employees navigate the complexities of their benefits in a rather straightforward manner.
“At WEX, our ultimate goal is to maximize employees’ physical and financial well-being while minimizing benefits-related interruptions for overextended HR teams,” said Robert Deshaies, Chief Operating Officer of Benefits at WEX. “Our commitment to simplifying benefits administration as well as our concerted and responsible investment in AI to that end are reflected in these pilots.”
Turning our attention towards BeneFITwise Premier, it happens to be a decision-support tool offered by WEX, a tool which can utilize AI to analyze individualized health claims data and provide personalized, year-round financial information and actionable insights. This, in turn, should tread up a long distance to help employees maximize the value of their benefits within WEX’s My Benefit Express benefit administration platform.
More on that would reveal how the solution will also arrive on the scene bearing an ability to offer a comprehensive, data-driven solution that simplifies the decision-making process for employees, helping them select the right plans based on their unique healthcare needs and financial situations absent consultation with their company’s HR department. In case that wasn’t enough, then we must mention that the solution in question also proactively engages employees throughout the year to provide them with targeted communications that enhance overall benefits utilization and satisfaction, while simultaneously helping to drive better employee retention and alleviating some of the engagement burden from internal HR teams.
Markedly enough, employers who are selected for this pilot can access the given solutions 24/7.
“WEX is working to be at the forefront of AI innovation in the benefits space, driven by a customer-centric approach. These pilots reflect WEX’s substantial investment of time and talent in AI. We believe AI can be a powerful and precise tool for solving our customers’ most pressing challenges,” said Karen Stroup, Chief Digital Officer at WEX. “Employers are keen to drive well-being and retention without adding more to the plates of their HR teams. At the same time, employees are looking for insights that can reduce feeling overwhelmed and help with the decision-making process.”
