How to Use Benefit Analytics as a Differentiator with 4 Key Audiences

Everyone loves analytics.

Leadership teams love analytics because they can use them to make key business decisions.

Operational teams love analytics because they can use that information to drive efficiencies in their processes.

Marketing teams REALLY love analytics because they can use that information in campaigns or write blog posts about them. *cough*

But, for our partners, do you want to know what group loves analytics the most?

Your prospects.

They want to see proof that your product and/or services are going to help them optimize their workflows, drive revenue, and help them make data-driven decisions about how to manage and grow their benefit offerings.

Luckily…

You can impress leadership, operations, marketing, and most importantly, your prospects, with the data included in benefit analytics from WEX.

As WEX partners continue to adopt benefit analytics and implement them into their conversations with clients and prospects, they are seeing that not only does it help drive the conversations and educate their clients, but also gives them a competitive advantage.

A quote from Gary Knight, president of ProBenefits, a third-party administrator that specializes in CDH and COBRA, is a perfect testimonial to the power of benefit analytics: “Educating and informing employers about their benefits is at the center of what we do. We are excited to use benefit analytics to not only help our clients understand their benefit plans, but also use the data as a competitive advantage within our industry.” 

Benefit analytics for partners

Benefit analytics for partners is the most comprehensive analytics version WEX offers, and gives partners the insights needed to:

• Evaluate account and plan performance to optimize benefit offerings
• Assess operational efficiency to drive client satisfaction and retention
• Measure consumer engagement to maximize account growth
• Benchmark performance to gain powerful insight about your market position.

It’s a powerful tool for both internal teams, as well as providing you with the data needed to drive conversations with prospects, consultants/brokers, and existing clients.

Benefit analytics for employers

Benefit analytics for employers is a simplified version of partner analytics, while still providing partners and employers with the insights needed to:

• Track employee engagement to improve future benefit offerings
• View how employees interact with their benefits to identify education gaps and promote utilization
• Compare benefit offerings to similar companies 

With the ability to grant self-service access on an employer-by-employer basis, benefit analytics for employers is an incredible way to share the power of data with employers as they make decisions about their benefit offerings.

Can’t decide between benefit analytics for employers or benefit analytics for partners? You can add both to your workflow to not only get the benefit of the comprehensive partner analytics, but the convenient self-service option for employers. And when you’re ready to get started, reach out to your account executive.

The power of (being one of the first to offer) data

Access to analytics within the benefits industry is currently limited, especially options for both comprehensive and self-service analytics for employers.

So when you’re the one of the few who can provide it to your leadership, operations, marketing teams, and most importantly, your prospects…

To help with data-driven decisions….

To optimize workflows…

To drive revenue…

And to position yourself as a data leader at the sales table…

It’s a win for you (and everyone else).

Want to learn more about benefit analytics? Reach out to your account executive.

The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own counsel.