ORLANDO, Fla., Feb. 14, 2024 (GLOBE NEWSWIRE) -- PlanSource, a leading provider of benefits engagement technology, shares its vision for 2024 after a successful 2023 and annual sales conference. More than 100 Go-to-Market team members attended the annual sales conference in January. The event is an opportunity to hear about new products, features and investments that will continue the mission of providing the best benefits experience for employers and their employees.
In 2023, more than 760 new employers selected PlanSource as their benefits engagement platform, representing nearly 500,000 employees, which resulted in a nearly 20 percent increase in consumer platform traffic. PlanSource’s new business bookings grew by 11 percent from the prior year, making it the fourth year of double-digit growth.
Healthcare costs for employers are expected to rise by 8.5 percent in 2024, nearly double the increase from the prior year. PlanSource is focused on being a strategic partner to its customers to maximize their investment and increase participation rates and benefits utilization.
In an ambitious move for 2024, PlanSource is set to revolutionize the employee experience with cutting-edge enhancements. At the heart of this transformation is a strategic infusion of AI technology to supercharge the platform for HR professionals and employees. This includes enriching The Source with dynamic new features and broadening capabilities to streamline HR teams’ daily operations effortlessly. The Source, known for its comprehensive benefits engagement, melds benefits enrollment and management into a seamless, mobile-optimized journey. Last May, PlanSource debuted an integration with a best-in-class digital engagement and communication tool to harness data-driven insights to deliver hyper-personalized messaging targeting gaps in care and engagement opportunities for employees using their benefits. This improvement will enhance benefit usage for HR Administrators and lead to tangible results for employees.
Additionally, in January 2024, PlanSource unveiled Olive, a pioneering AI assistant designed to revolutionize communications for HR teams. Olive, empowered by ChatGPT4, offers bespoke messaging solutions within the PlanSource ecosystem, adeptly tuning the formality, tone, length, and language of messages. This innovation will dramatically reduce the workload for HR personnel utilizing The Source, marking a significant milestone in streamlining communications and enhancing efficiency.
PlanSource continues to invest heavily in partnerships and integrations in 2024 through the Partner Marketplace, Reseller program, and insurance carrier program. In 2023, PlanSource added seven SAP integrators to the partner program in addition to several new resellers, 19 new Marketplace partners and launched eight Boost integrations.
In 2023, PlanSource leveled up the customer experience even more than the prior year and had the best open enrollment in the history of the company. PlanSource’s NPS (Net Promoter Score) increased to +53, proving that customers and partners are thrilled with the improvements. Existing customers rated PlanSource 4.4 out of 5 for customer effort score.
Empowering talent and focusing on company culture continues to be a top priority for PlanSource. PlanSource accelerated career growth, with 29 percent of team members receiving promotions and new career opportunities internally in 2023. With a strong focus on Diversity, Equity and Inclusion, female representation in leadership roles increased to 42 percent globally. PlanSource received Great Place to Work Certification in the U.S. and India in 2023 and has retained 97 percent of top talent.
PlanSource has incredible momentum going into 2024, with major investments being made in the platform and overall experience for customers and partners.
“As a customer of our own platform and employee, I am proud of what our PlanSource accomplished in 2023. The innovations we are focused on truly are the top priorities for CHROs and benefit leaders and set us apart from the competition,” said Sharon Brand, Chief People Officer of PlanSource. “2024 is going to be a significant year for PlanSource as we provide our customers with a market leading benefits engagement platform that will drive better health and wellness outcomes for their employees.”
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 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.
