ORLANDO, Fla., Aug. 27, 2024 (GLOBE NEWSWIRE) -- PlanSource, a leading provider of cloud-based benefits engagement technology, announced today the launch of its Summer 2024 Product Release. Available August 17 to all PlanSource customers and partners, the Summer Release introduced a new chatbot – Olive, enhancements to payroll features like closed-loop payroll and retroactive payroll, new carrier integrations and more.
In PlanSource’s annual Benefit Trends report, 76 percent of HR leaders believe that if their organization does not adopt and implement AI solutions such as generative AI in the next 12 to 24 months, they will be lagging in organizational success compared to those that do. With each product release, PlanSource focuses on AI components and how it can enhance features and improve processes for HR leaders and their employees. In January 2024, PlanSource unveiled Olive, a new AI assistant that assists administrators and employees throughout the platform. The initial feature called Olive Create suggests tailored communications for HR teams to use with their employees. Olive Create gives the administrator control over the formality, tone, length, and language of the communication, saving time and effort for HR teams who use The Source. Olive Create recently won a Globee award for best new product in AI.
In this release, Olive was expanded into a personal assistant for employees. Olive will provide easy access to information that employees need, such as login assistance, benefit details and plan coverages and company information, all available in English and Spanish. Olive communicates in both English and Spanish to assist all employees with their benefit needs.
Beyond AI features, other enhancements included in the Summer 2024 Product Release are:
- Closed Loop Payroll – A smart and customizable tool that helps ensure payroll accuracy. It automatically compares the payroll deductions planned by PlanSource with what the customer’s payroll provider withholds each pay period, spotting any differences and making necessary adjustments.
- Carrier Integrations – In this release, PlanSource has launched five new carrier integrations to reduce industry friction for customers. Additionally, employees will take advantage of:
- Evidence of Insurability Single Sign-On: This integration allows employees seamless access to the carrier’s EOI form within the benefits shopping experience. The following carriers launching with this integration are: Mutual of Omaha and UnitedHealthcare*.
- Evidence of Insurability (EOI) Decision Notification API: Voya and The Hartford customers can now enjoy seamless shopping, answering EOI questions within the benefits shopping experience with an underwriting decision on the fly, saving HR teams 15 to 30 minutes per employee.
- Compliance Updates – In alignment with an upcoming Federal mandate effective for plan years starting January 1, 2025, PlanSource will update the platform to include the new required disclosure for Hospital benefit elections. This update ensures full compliance with the latest requirements and a seamless enrollment experience.
- New Marketplace Partner – A new partner has joined the PlanSource Partner Marketplace - these strategic partnerships bring a diverse set of offerings to PlanSource customers.
- Terryberry – From employee recognition to corporate wellness to surveys and analytics, Terryberry has everything HR leaders need to transform employee engagement – all conveniently housed in one place. With Terryberry’s one powerful platform, employees can be engaged through recognition and wellness solutions, be rewarded with merchandise and custom awards and succeed through metrics that track real impact.
- Terryberry – From employee recognition to corporate wellness to surveys and analytics, Terryberry has everything HR leaders need to transform employee engagement – all conveniently housed in one place. With Terryberry’s one powerful platform, employees can be engaged through recognition and wellness solutions, be rewarded with merchandise and custom awards and succeed through metrics that track real impact.
“I’m excited for the summer product release and the investments we continue to make in AI for our customers,” said Srini Venkatramani, Chief Product & Technology Officer at PlanSource. "Going into open enrollment season, our goal is to continue making the platform easier for our customers to use, many of these new features will save HR leaders valuable time and effort."
Employers and partners interested in exploring the new capabilities in this release can review our release website for more information.
*UHC integration available to pilot groups only
About PlanSource
PlanSource is a technology company that automates and simplifies every aspect of employee benefit programs, so employees and HR teams can make smarter, more confident benefits decisions. More than 5 million consumers receive their benefits through the PlanSource platform, which provides the best experience possible for benefits communications, shopping, enrollment, billing, compliance and ongoing administration. With an end-to-end benefits platform and suite of technology-enabled services, PlanSource helps people maximize the benefits of their benefits, so they can live happier, healthier lives. Learn more at 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.
