SAVVI Financial - 3x3x3 Challenge with Brian Harrison
SelectSmart helps employees make better benefits decisions, saving money for both them and employers. It offers tailored, comprehensive guidance and is ideal for firms with 500+ employees.
Transcript:
What is SelectSmart?
American workers struggle to make the right decisions with their employee benefits at open enrollment and throughout the year. With benefits taking up to 30% of an employees paycheck, these wrong decisions are costing them money. But it also costs employers, from increased healthcare costs, missed tax savings, decreased productivity, even higher turnover. SAVVI SelectSmart decision support provides guidance that simplifies benefit decisions with personalized, integrated bundles that optimize healthcare, insurance, and retirement choices, helping employees understand, save, and protect more, while employers reduce cost.
How is SelectSmart different?
A few ways SelectSmart is unique. First, with results. Many decision support platforms focus only on health. SAVVI's guidance is comprehensive, covering health and wealth, and guiding employees to the next best action for personal and retirement savings, as well as voluntary benefits. Employees save money, typically $500 or more per year, and employers can save up to $200,000 or more per year by lowering cost and improving benefits utilization. A lot of competitors suffer from low adoption, often in the single digits. SAVVI's integrated experience is used by nearly half of eligible employees, and most new hires. SelectSmart assesses each individual's circumstances, like income, dependents, existing coverage, and then it offers tailored smart bundles that are easy to follow and implement. It saves time versus the traditional enrollment process. We can also leverage claims data to refine our recommendations even more. It's unbiased, and this was validated by a leading actuarial consulting firm. It's in the best interest of an employee. And finally, we enable employees to revisit and adjust their plan throughout the year as life circumstances change, ensuring continued alignment with their goals.
Who is a good fit for SelectSmart?
Typically, employers with 500 or more employees that have a number of benefit choices and they want to reduce overall financial stress. Maybe they have a current solution and want to pay less, or just have a more detailed solution for their employees. If you're a broker or a consultant, you want higher participation in voluntary benefits or high deductible plans just to reduce cost for your partners. Maybe you're a BenAdmin or an HR tech platform that wants a more holistic or comprehensive decision engine as part of your platform, either via API or standalone, or even a carrier that wants to stand out in a finalist meeting, not just focusing on price, but really winning on value.
Transcript:
What is SelectSmart?
American workers struggle to make the right decisions with their employee benefits at open enrollment and throughout the year. With benefits taking up to 30% of an employees paycheck, these wrong decisions are costing them money. But it also costs employers, from increased healthcare costs, missed tax savings, decreased productivity, even higher turnover. SAVVI SelectSmart decision support provides guidance that simplifies benefit decisions with personalized, integrated bundles that optimize healthcare, insurance, and retirement choices, helping employees understand, save, and protect more, while employers reduce cost.
How is SelectSmart different?
A few ways SelectSmart is unique. First, with results. Many decision support platforms focus only on health. SAVVI's guidance is comprehensive, covering health and wealth, and guiding employees to the next best action for personal and retirement savings, as well as voluntary benefits. Employees save money, typically $500 or more per year, and employers can save up to $200,000 or more per year by lowering cost and improving benefits utilization. A lot of competitors suffer from low adoption, often in the single digits. SAVVI's integrated experience is used by nearly half of eligible employees, and most new hires. SelectSmart assesses each individual's circumstances, like income, dependents, existing coverage, and then it offers tailored smart bundles that are easy to follow and implement. It saves time versus the traditional enrollment process. We can also leverage claims data to refine our recommendations even more. It's unbiased, and this was validated by a leading actuarial consulting firm. It's in the best interest of an employee. And finally, we enable employees to revisit and adjust their plan throughout the year as life circumstances change, ensuring continued alignment with their goals.
Who is a good fit for SelectSmart?
Typically, employers with 500 or more employees that have a number of benefit choices and they want to reduce overall financial stress. Maybe they have a current solution and want to pay less, or just have a more detailed solution for their employees. If you're a broker or a consultant, you want higher participation in voluntary benefits or high deductible plans just to reduce cost for your partners. Maybe you're a BenAdmin or an HR tech platform that wants a more holistic or comprehensive decision engine as part of your platform, either via API or standalone, or even a carrier that wants to stand out in a finalist meeting, not just focusing on price, but really winning on value.