Acquiring Workterra
How acquiring Workterra furthers our mission of growing our business and delighting our clients.
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Acquiring Workterra
In October of 2022, we announced the acquisition of Workterra. Workterra is a fully configurable, easy-to-use benefits administration and enrollment platform built to simplify the growing complexity of benefits for HR and employees.
Workterra’s industry-leading technology, together with a comprehensive suite of administrative services, help clients deliver a personalized enrollment experience, reduce administrative burden and streamline data exchanges with the utmost accuracy and security.
Together with Businessolver’s unwavering service-oriented culture and secure SaaS platform provide measurable success in its mission to provide complete client delight.
Read the full Press Release here
Vision 2022
Our Vision for the future of HR was shared with over 1,466 registrants.
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Vision 2022
In Spring, Vision 2022—an annual gathering for clients and partners to engage with industry experts to develop and improve benefits strategies for today’s diverse workforce. Businessolver’s Vision agenda featured two dynamic keynotes and a full session slate led by industry experts.
“Organizational culture, specifically those defined by flexibility and support for them as a whole person, will be what wins the day in the new war for talent,” said Jon Shanahan, Businessolver CEO and President.
Sessions during Vision 2022 helped HR/benefits leaders:
• Effectively address employee mental health, by better understanding burnout and boredom and how they can hide or highlight larger psychological issues.
• Hold leaders accountable with data and deliverables to uphold their organization’s diversity, equity, and inclusion values.
• Transform employee experience and benefits delivery, through strategic small-group meetings with representatives from Businessolver’s exclusive Pinnacle ProgramTM partners and Visionary sponsors: Allstate, Aura, Cigna, and The Hartford.
• Honor industry excellence at the second-annual Solvies award ceremony; where Vision attendees gain inspiration from their HR/benefits peers. Honorees are nominated from within the Businessolver client family who exemplify its four pillar values: Perform, Engage, Innovate, and Give Back.
In 2022, we saw a 15% increase in registrations over the prior year.
Benefits Insights
Every year, we analyze and compare employees’ state of mind around benefits choices. Check out the highlights.
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Benefits Insights
Businessolver’s 2022 data shows employees continue to remain confused about their benefits, holding steady over the four-year history of the Benefits Insights Report.
“Our data shows year-over-year that significant knowledge gaps are preventing employees from understanding how to elect the right benefits or utilize what’s already available to them,” said Sherri Bockhorst, Businessolver Senior Vice President of Innovation and Strategy.
Other significant findings include:
• Benefits confusion remains universal: One third (31%) of employees are confused about their benefits.
• Financial preparedness remains poor: Slightly more than half (55%) say they only “sometimes” save for emergency expenses; 12% “never” save.
• Leveraging year-round engagement strategies is key: guiding employees to available benefits can help improve literacy.
New Benefits Partners
Expanding our ecosystem with more partnerships, in the United States and abroad.
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Benefex is the company behind OneHub, the award-winning employee platform that delivers benefits, wellbeing, recognition, and reward experiences to more than 2.2 million employees in more than 900 organizations across more than 80 countries.
MetLife Legal Plans provides protection at every step. It offers real and tangible results in the form of legal representation and consultation.
MetLife Pet offers flexible, customizable and innovative pet insurance for their furry family members.
SWORD Health provides virtual physical care for back, joint, and muscle pain which is proven to work better than in-person physical therapy.
New Benefits Partners
New Pinnacle Partners include:
Accolade provides millions of people and their families with an exceptional healthcare experience that is personal, data driven, and value based to help every person live their healthiest life.
Aetna Accident, Critical Illness, and Hospital Indemnity is one of the industry’s fastest growing group voluntary benefits carriers due to its flexible plan designs, attractive group rates with available multi-line discounts, exceptional service and our unique claims model are designed to drive voluntary benefit claim utilization.
Benefex is the company behind OneHub, the award-winning employee platform that delivers benefits, wellbeing, recognition, and reward experiences to more than 2.2 million employees in more than 900 organizations across more than 80 countries.
MetLife Legal Plans provides protection at every step. It offers real and tangible results in the form of legal representation and consultation.
MetLife Pet offers flexible, customizable and innovative pet insurance for their furry family members.
SWORD Health provides virtual physical care for back, joint, and muscle pain which is proven to work better than in-person physical therapy.
Achieving HITRUST Risk-based, 2-year Certification
The Benefitsolver platform earned Risk-based r2 Certified status from HITRUST.
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Achieving HITRUST Risk-based, 2-year Certification
HITRUST Risk-based, 2-year (r2) Certified status demonstrates that Businessolver has met key regulations and industry-defined requirements and is appropriately managing risk relating to Benefitsolver’s systems and infrastructure.
“Obtaining the HITRUST Certification shows that Businessolver is committed to furthering our investment to safeguard our client’s private data; not only for us, but for each of their employees. Every member in Benefitsolver represents a life, not a number, and they are trusting us to keep them safe and secure as well,” said George Lo, Businessolver Chief Technology Officer.
Client Workshops
Being a thought leader is hard work, but we were able to provide valuable information for more than 2,000 client representatives through our Client Workshop series.
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Client Workshops
Attended by more than 2,000 client representatives from April to August, the 2022 Client Workshop Series allowed our customers to hear directly from experts on relevant topics facing benefits professionals and HR teams. With an average of 125 clients in attendance, each of the 18 sessions provided step-by-step training and best practices for maximizing the Benefitsolver platform.
Some of our most popular topics included:
• “Become a Benefitsolver Guru: Successful Admin Processes”
• “Evolving the New Hire Experience”
• “Behind the Scenes of COBRA” and “Behind the Scenes with the ACA Team”
The average rating across all sessions was an astounding 4.3 out of 5! And the resounding feedback from clients was that they wanted more information, they needed the sessions to be longer. Thanks to this positive feedback from our clients, we plan to hold similar sessions in 2023, plus many more that highlight the latest and greatest enhancements to our platform.
