MetLife Expands Relationship With PlanSource to Enhance Employee Benefits Experience
MetLife announced today that it will expand its relationship with PlanSource, a leading provider of cloud-based benefits software, by joining their Boost program, which offers a contemporary and enhanced benefits experience for HR teams and employees through automation, optimized benefits shopping and real-time API integrations.
"As employers look to provide their employees increased customization and comprehensive coverage through voluntary and core benefits, making benefits administration simpler and more seamless has become even more important," said Jamie Madden, vice president, Group Benefits, MetLife. "Benefits play an important role in supporting employee needs and fostering their holistic wellbeing. MetLife's annual U.S. Employee Benefit Trends Study this year found one of the top three drivers of holistic wellbeing is a comprehensive benefits program."
By integrating with PlanSource as part of Boost, MetLife aims to eliminate manual processes associated with benefits administration through real-time integrations that drastically reduce set up time and the risk of errors. One example, now in place, is how the program enhances the employee experience in the Evidence of Insurability (EOI) process. The API allows decisions to be seamlessly shared with PlanSource, notifying the HR team and the employee of MetLife's decision, reducing the number of manual steps.
"Our customers are looking for streamlined end-to-end solutions that simplify the benefits administration process and improve the employee experience," Madden said. "With PlanSource Boost, we can continue to provide customized benfits packages, now with an enhanced user experience for both employers and employees."
As part of the Boost program, PlanSource and MetLife are jointly committed to the future development of APIs to simplify benefits administration, thereby creating an overall easier experience. These will include an API for enrollment transactions that will further reduce manual efforts, creating seamless, more accurate information exchanges between the PlanSource and MetLife systems.
"We are thrilled to strengthen our relationship with MetLife and welcome them as an integral part of the PlanSource Boost program," said Bradley Taylor, executive vice president, Strategic Partnerships, PlanSource. "Together, we will cut through the complexities that have plagued our industry for way too long and build a benefits experience that is easy to manage for HR teams and streamlined, familiar and convenient for employees."
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ("MetLife"), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
PlanSource is a technology company driven to create a better benefits experience for employers and their employees. More than 5 million consumers receive their benefits through the PlanSource platform, which provides flexible and intuitive software and services for benefits administration. By combining industry-leading software and a full suite of professional services, PlanSource provides companies of all sizes with a complete solution for benefits shopping, enrollment, billing, compliance and administration. Learn more at www.plansource.com.
PlanSource is a registered trademark of PlanSource, Inc., and PlanSource owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.
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