Overview
Who is this for, and for what purpose?
The analytics module is designed to help Producers and Account Managers of Benefit Advisory firms. It empowers them to be better stewards of the benefit programs of their clients.
What does this do?
It starts with the fact that ALL data necessary to measure the effectiveness of a benefits program are managed on Benefits Junction. We make that data easily accessible, with dynamic visualizations, slicing and dicing all the data to prompt actionable insights. It helps drive better performance and value of the benefits program. It helps measure the outcomes that are realized by strategies executed by the advisor and client.
Why is this so important?
It usually takes a long time and a lot of effort to gather and present data meaningfully. The mid to smaller size clients do not typically receive the benefits of such measurement and insights from their data.
We make it easy to interact with this data. The design of this module has come from decades of experience as a broker, doing this sort of work for larger clients.
What does it do for a good Benefit Advisor?
Benefit Advisors who use data to consult with clients show up even more powerfully and separate themselves from being just an insurance salesman. Strategic consulting advice, followed up by precise measurement of outcomes and ongoing course corrections to the programs, result in long term relationships with clients. A broker becomes a trusted benefits advisor for the long term, not subject to a month to month BOR, not based on ‘soft’ relationships, but ‘hard’ data based strategies.
There are Four parts to this module, or four dashboards of the data.
Enrollment and Distribution are dashboards comparing the situation across two points in time – typically pre- and post- Open Enrollment. This is a good way to measure the outcomes from the strategies used at each annual renewal/Open Enrollment.
Participation and Cost dashboards are point in time dashboards and are available for the first of each month, going back 12 months of the program.
Workforce Junction’s analytics dashboard helps drive and influence the best decision-making process. A process that is data-based, using the most accurate and timely data on the benefits program. All this without taking time away from the HR Manager or the Benefit firm’s Account Manager to gather, clean, and present the data from multiple sources.