What’s New in Our Titan Product Release
We are excited to launch our third release of 2021 where we are committed to optimizing and personalizing the employee experience, providing our customers with more satisfied and engaged employees. 2021 has been a year of rapid growth and industry-wide enhancements, driven by our $23 million investment in the product. Check out the Titan Release Webpage to access a full deep-dive of all the new features and enhancements in Titan, as well as an on-demand preview webinar with our Product Team. Keep reading for a quick snapshot of what’s new with Titan.
1. Reducing Costs with AI/ML
With Titan, we are continuing to invest and release new features and enhancements to our PlanSource IQ suite. We are excited to release DecisionIQ, a prescriptive, AI-based decisions engine that is primarily focused on the employee experience. Enrolling in benefits is overwhelming and can be confusing, and only 50% of employees feel confident in their ability to evaluate and choose the right benefits. Yet every year, employees spend an average of only 26 minutes shopping for benefits, and 41% wait until the last minute to decide, logging in an average of 1.8 times to the benefit system. Employees need guidance to make the best decision for themselves and their families. PlanSource’s DecisionIQ has integrated directly with Milliman, one of the nation’s largest data actuaries, used by 90 of the largest 100 insurance carriers and includes more than 100 million local cost benchmarks. Milliman’s models measure health care utilization and claim costs, providing data-driven suggestions based on demographics, dependent, risk tolerance, and regional cost comparison data for 100% of employees. DecisionIQ compares plan costs and determines how much money to contribute to HSAs and set aside for out-of-pocket costs. While 100% of employees will be able to leverage DecisionIQ’s “best match” suggestions, they will also have the option to opt into providing additional information to hyper-personalize the accuracy of its insights.
Continuing with PlanSource IQ, we are excited to launch InsightsIQ, a data visualization product providing HR teams with actionable insights, trends, and industry benchmarking within the PlanSource platform. HR leaders will have access to automated results and an overview of employees, benefits, participation, and costs to provide an at-a-glance summary and allows instant data analysis. InsightsIQ pre-aggregates time periods, displaying historical trends and tracking towards an outcome. In the future, HR teams will be able to leverage benchmarking to access visibility into how benefits may be impacting recruitment and retention.
2. HR Efficiency & Compliance
At PlanSource, many of our initiatives are driven by data and customer feedback. Along with many navigation updates, we have also made major improvements to our benefit administration platform, focusing on enhancing the overall user experience. The website speed is now faster than ever with code optimization, improved load times, and reduction in queries.
With Titan comes exciting integration and partnership updates, as we are now providing seamless access to benefit accounts for employees right within the shopping experience. The integration with Alegeus allows employees to quickly access and manage their HSAs, FSAa, and HRAs without a separate login.
3. New Benefit Offerings & Marketing Updates
PlanSource is thrilled to announce our Marketplace Partners: Allstate Identity Protection, Boon Health, Genomic Life, Givinga, Maven Clinic, MetLife Legal, IDWatchdog, and NortonLifeLock. Today, more than ever, customers require more benefit options from their employers to have a well-rounded offering. This curated list of strategic partners is designed to maximize HR efficiency, employee engagement, and plan participation. Out-of-the-box templates and template file delivery provide quick implementation, expedited data exchange, and optimized shopping experience.
4. Interested in Learning More?
The first half of 2021 has brought exciting updates and innovations, and we are committed to continue raising the bar in Q3 and Q4. For a deeper dive into the updates mentioned above, head over to the Titan Release Webpage for a recap of the webinar and technical notes.
Interested in leveraging PlanSource’s software to help your HR team save time and money? We would love to chat! Schedule a product demo with our team today and stay tuned until next quarter to see what our next release, Zenith, will offer on December 9, 2021.
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