ORLANDO, Fla., March 25, 2021 (GLOBE NEWSWIRE) -- PlanSource, a leading provider of cloud-based benefits administration technology, announced today the launch of its Nova software release. In its first release of 2021 – released March 11 to all PlanSource customers and partners – PlanSource continues its investment in simplifying the benefits experience and increasing automation for HR leaders.
Updates in the Nova release build on these themes, with the launch of PlanSourceIQ – a new suite of AI/ML-powered product add-ons designed to deliver a hyper-personalized shopping experience and increased HR efficiency. Nova introduces two new products within the PlanSourceIQ family, DecisionIQ and DependentIQ, which offer optimized decision support and eligibility verification solutions.
With DecisionIQ, employees receive intelligent, personalized guidance for all types of benefits so that they can navigate complex choices with ease. The AI and Machine Learning-based models use demographic, dependent, eligibility, risk-tolerance and localized cost data to provide hyper-personalized suggestions to employees about their best-fit plans and coverage levels based on their needs.
DependentIQ eliminates HR admin work and unnecessary premium costs each month by automating end-to-end eligibility verification processes. Powerful AI/ML technology automatically detects key data elements in valid eligibility documents and approves them instantly. Any documents not approved instantly are routed for manual review, preventing ineligible dependents from ever enrolling in benefit plans.
Other updates in the Nova release center on faster configuration for HR teams and new PlanSource Boost APIs, which are part of the modernization effort with leading insurance carriers. Updates include:
- Self-service for Plan Content – This feature allows HR teams to streamline their annual benefits renewal and configuration with updates that enable them to edit Plan Content and Plan Content Details directly within the Guided Renewal and Guided Launch workflows. The clear and intuitive workflow walks HR teams through how to enter the data properly. When Plan Content Details are filled in for all plans, employees can take advantage of plan comparison and decision support capabilities within the shopping experience.
- Aflac Evidence of Insurability Integration – As part of the Boost modernization efforts, PlanSource introduces the Aflac Evidence of Insurability Single Sign On integration for employees. With this new integration, employees can easily access and complete EOI forms online, directly within their benefits shopping experience in PlanSource. Completed EOI forms are automatically sent to Aflac for approval. This feature applies to Basic Life and Supplemental Life products with Aflac.
- MetLife Member Portal Single Sign-On – The latest MetLife integration through Boost creates a better customer experience by allowing employees frictionless access to their benefits portal directly from PlanSource, removing the need for an additional login step to retrieve important information and resources, including ID cards, claims support, and provider directories.
“I’m thrilled to announce the PlanSourceIQ product suite in the Nova release. These new products provide our customers with additional opportunities for automation and a more personalized experience for their employees,” said Srini Venkatramani, Chief Product and Technology Officer at PlanSource. “Introducing AI/ML to our platform will take PlanSource’s technology to the next level as part of our mission to help people live happier, healthier lives by maximizing the benefits of their benefits.”
PlanSource launches major software releases four times a year and conducts ongoing updates and enhancements throughout the year. More details about the Nova release can be found at plansource.com/release.
About PlanSource
PlanSource is a technology company that automates and simplifies every aspect of employee benefit programs, so employees and HR teams can make smarter, more confident benefits decisions. More than 7.5 million consumers receive their benefits through the PlanSource platform, which provides the best experience possible for benefits communications, shopping, enrollment, billing, compliance and ongoing administration. With an end-to-end benefits platform and suite of technology-enabled services, PlanSource helps people maximize the benefits of their benefits, so they can live happier, healthier lives. Learn more at plansource.com.
PlanSource is a registered trademark of PlanSource, Inc., and PlanSource owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.