Businessolver Expands Investment In Innovation And Service, Driving Client Delight And Real Results

Strong first-half 2024 results demonstrate the technology leader’s commitment to benefits innovation, service, and people

DENVER--(BUSINESS WIRE)--#BenefitsAdministration--Businessolver®, a market-leader in SaaS-based HR and benefits technology, wraps up the first half of 2024 with an impressive list of technology advancements, acquisitions, and accolades that demonstrate its deep commitment to driving tangible value for its growing list of clients and stakeholders.

“Our investments in product innovation, acquisitions, and people all align to one common goal: client delight,” said Jon Shanahan, CEO and President of Businessolver. “With continued client feedback, a deep talent pool, and an eye on the future, we’re innovating in the benefits space and bringing holistic solutions to market for today’s increasingly complex challenges.”

Technology investments, backed by user experience research studies, simplify the benefits experience while driving engagement and efficiencies

Businessolver’s research continues to underscore the need for a simplified benefits experience that helps employees choose and use their benefits more effectively. The company’s annual Benefits Insights report showed that while 84% of employees are confused about their benefits, a personalized enrollment experience and AI enhancements are optimizing outcomes and improving the user experience (UX), resulting in an “excellent” net-promoter score (NPS) rating during 2024’s annual enrollment.

Highlights from Businessolver’s long list of Q1 and Q2 product enhancements include:

• Best Match enrollment experience: This innovation, which was driven by feedback from over a quarter-million-member survey responses, includes enhanced personalized modeling tools, new financial views and side-by-side comparisons within the enrollment experience that empower employees by providing clearer insights into their specific healthcare costs and options, all within a modernized interface.
• Improved AI-powered search: Extends AI-powered cognitive search across the company’s benefits platform, resulting in 90% overall resolve rate through personalized searches and enabling HR teams with targeted promotions.
• Market-first Benefits Insights Dashboard: Provides HR teams with real-time analytics and AI to enhance benefits strategy alignment. Expanded user experience surveys accompany the enhancement along with call center analytics for 100% of user interactions.
• Enhanced email communications and tracking: Upgrades the email communications tool, helping benefits teams communicate benefits information and measure effectiveness. Emails generated from Businessolver’s platform see a 46% read rate across 30 million emails sent annually.

From Forbes to Newsweek, Businessolver earns accolades for innovation, AI, and culture

As testament to Businessolver’s continued investment in technology, the company was honored with numerous accolades, including Excellence Award in the BIG Innovation Awards for machine learning, People’s Choice Stevie Awards for favorite new product, Silver Digital Health Award for mobile app redesign, and recognition from the SaaS Awards and Shortlister.

Businessolver was likewise recognized for its exceptional culture which continues to be rooted in empathetic practices. Honors included recognition by Forbes as one of America’s Best Midsize Employers for the third consecutive year, Newsweek, Ragan’s Employee Communications Award, and Inspiring Workplaces.

The Capstone Group acquisition expands Businessolver’s strategic investment in benefits expertise and service delivery

In Q1, Businessolver deepened its commitment to service delivery and expansion beyond benefits administration by acquiring The Capstone Group and its ComplianceDashboard solution. This acquisition follows the company’s 2023 key acquisition of Workterra.

55% of CEOs cite mental health issues and other first-half highlights:

• Businessolver's ninth annual State of Workplace Empathy study revealed an alarming rise in mental health issues particularly among CEOs: 55% of CEOs (+24 points over 2023) and 50% of employees cited mental health issues alongside widespread workplace toxicity.
• Businessolver’s 8th annual hackathon focused on AI to enhance simplicity and efficiency for clients. This year’s top ideas will be committed to the company’s product roadmap.
• Carey McKenzie, previously Chief Acquisitions Officer, transitioned to Chief Client Officer for Businessolver—maximizing client and investor value with 25+ years of benefits experience.

“Empathy continues to be the cornerstone for how we innovate and operate,” said Shanahan. “From product innovations to service, we’re delivering on client delight through our commitment to ‘tech with heart.’ In this way, we not only live our values but continually set the bar in the benefits arena.”

About Businessolver

Since 1998, Businessolver has delivered market-changing benefits technology the empowers empathetic service supported by an intrinsic responsiveness to client needs. The company creates client programs that maximize benefits program investment, minimize risk exposure, and engage employees with easy-to-use solutions and communication tools to assist them in making wise and cost-efficient benefits selections. Founded by HR professionals, Businessolver’s unwavering service-oriented culture and secure SaaS platform provide measurable success in its mission to provide complete client delight.

Contacts

Nicole Selinger (for Businessolver)
314-805-2165
nicole@KMPRcollective.com