Powered by API technology, Nayya’s decision-making tool empowers consumers during the open enrollment process by helping them make informed decisions
The Guardian Life Insurance Company of America (Guardian Life) and Nayya, a leading insurance benefits experience and management platform, have announced a joint partnership to provide employers and employees with a personalized, online data-driven benefits experience during the open enrollment process.
“Employers have been expanding their benefit offerings to meet the evolving and diverse needs of their workforce over time, resulting in the need to improve and digitize benefits education as part of the enrollment strategy,” said Chris Smith, Head of Group Benefits, Guardian Life. “By integrating Nayya into the Guardian Life enrollment experience, we will harness the power of data to help educate and guide employees through the benefits selection process.”
According to Guardian’s Workplace Benefits Study, one in four employees feel open enrollment is overwhelming and not very helpful. The research also found that a positive benefits experience – one that is efficient, engaging, and helps employees make better benefits decisions – contributes to an increase in workforce loyalty with 79 percent of employees saying they will stay with their employer five years or more.
By leveraging AI and data science, the Nayya platform aims to simplify the benefits enrollment experience by arming employees with a decision-making tool that gives them the confidence to select the right benefits. Guided by an avatar, employees are asked to provide relevant information, such as location, household demographics and lifestyle. Within minutes, employees receive various plans from their employers that best match their budget and needs.
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“We’re excited to join forces with Guardian – an innovator in the voluntary benefits marketplace – to help consumers navigate an increasingly complex journey,” said Sina Chehrazi, Chief Executive Officer, Nayya. “Guardian is taking a bold approach – not only in curating personal consumer experiences – but in transforming consumer understanding of their employee benefits in ways that will change open enrollment and utilization in the industry.”
Nayya links more than 3 billion external data points, including nearly 200 million rows of claims data, to offer curated, confidential guidance on topics such as selecting voluntary benefits, comparing different health insurance options, HSA/401(K) education and finding cost-effective healthcare. Guardian Life, who is an investor of the Nayya platform, will be rolling it out nationally for new and existing clients starting with companies that have more than 50 employees.
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