Benefit Analytics | Benefits | WEX Inc.
https://www.wexinc.com/products/benefits/benefit-analytics/
Comprehensive analysis across core health products to give partners and employers the insights they need to make data-driven, strategic decisions about how to manage and grow their benefit offerings.
Evaluate, Assess, Measure, and Benchmark Across Core Health Products.
Evaluate your account and plan performance to optimize benefit offerings.
Supporting your clients and their participants with the right offerings (and driving revenue for your business) shouldn’t be a guessing game. With our analytics, you can identify what offerings work best for your clients and your bottom line.
Assess your operational efficiency to drive client satisfaction and retention.
Efficient operations = less wasted efforts (and $$$) on processes that frustrate your clients. Using our analytics, you can easily assess your operational efficiency and identify areas of improvement to drive client satisfaction and retention.
With our analytics, you can view how often your employers’ participants interact with their accounts and how financially ready they are to pay for out-of-pocket expenses. Using this information, you can deploy tactics to help employees understand their benefits, engage with their accounts, and increase contributions. This helps prepare them for healthcare expenses AND drives revenue for your business.
Benchmark your performance to gain powerful insight about your market position.
Knowing how you compare to the marketplace is key to understanding how your business is performing. With our analytics, you can easily compare your performance with the rest of the WEX ecosystem (which includes hundreds of thousands of employers and tens of millions of consumers). Using this information, you can make strategic decisions about how to boost performance or differentiate yourself from the market.
Educating and informing employers about their benefits is at the center of what we do. We are excited to use benefit analytics to not only help our clients understand their benefit plans, but also use the data as a competitive advantage within our industry.”
Gary Knight, president of ProBenefits, a third-party administrator that specializes in CDH and COBRA.
Download our analytics paper
Track, Promote, and Improve Future Offerings (and Utilization.)
With our analytics, employers see how employees are using their accounts and how financially ready they are to pay for out-of-pocket healthcare expenses. This lets employers see what works (and what doesn’t) for their team, and when it’s time to renew, they can optimize their benefits package to fit the needs of their employees.
Using our analytics, employers can see how their employees are interacting with their accounts (and how often), how much they contribute, and where they are spending their benefits dollars. This helps employers identify what benefit design and education decisions are needed to help employees use and take advantage of their accounts.
Using this information, employers can make strategic decisions about how to boost performance or differentiate their offerings from similar companies.
Download our analytics handout