How AI can help sift through the data intelligently
Data analytics is one of AI’s biggest superpowers.
AI makes it easier than ever to consolidate, interrogate and present benefits data, allowing employers to make better decisions.
Data consolidation
One of the biggest challenges for employers is dealing with data scattered across different sources and formats.
Pulling all this data together takes a lot of time and effort. It involves the laborious job of standardising and consolidating formats, ensuring compatibility and breaking down silos.
Advanced AI algorithms can take unstructured data from various sources and merge it into a single data repository without recourse to manual work.
For example, you can upload private medical insurance (PMI) claims data and individual vendor utilisation data into an AI system, and the AI will automatically organise these different data sets.
The result is a more comprehensive data ready for analysis and faster, better-informed decisions.
Data interrogation and insights
Once done, the next step is extracting valuable insights.
AI makes this more accessible to everyone, even those without technical expertise.
With AI, employers can ask questions about their data in plain English.
Instead of manually digging through data to spot trends or anomalies, employers can ask the AI questions such as, “What are the key factors influencing employee satisfaction with our benefits package?” or “Are there any significant trends in PMI claims over the past year?”
The AI can even analyse data and provide insights that no one even thought to ask about. It can also help determine whether the current benefits package meets the workforce’s needs.
By consolidating various data sources and using AI to analyse this information, employers get a comprehensive view of how effective their benefits strategy is. This approach ensures benefits packages are tailored to employees’ actual needs, boosting satisfaction and retention.
Data presentation
Presenting data effectively is crucial for turning insights into action.
Traditionally, creating reports and visualisations requires knowing how to use tools such as Excel or specialised software, often a hurdle for many people.
Employers can now simply tell the AI what they need.
For example, they can ask the AI to “create a graph showing the monthly trend in PMI claims” or “generate a report on the utilisation rates of different benefits.”
This allows employers to focus on interpreting the data and making decisions. If the visualisations created by AI aren’t quite right, just nudge the AI to improve it. All with words, not software code.
This streamlined approach to data presentation means insights are not only more accessible but also more impactful and visual.
By presenting data in a clear and visually appealing way, employers can better communicate findings to stakeholders, leading to more effective strategy development and implementation.
Conclusion
“AI is revolutionising benefits data management, empowering employers to make data-driven decisions that enhance efficiency and employee satisfaction,” said Eric Humphrey, Peppy’s SVP of research & development. “Ultimately, it helps make benefits work for everyone.”
By breaking down data silos, enabling natural language queries, and simplifying data visualisation, AI ensures employers can make well-informed decisions that truly reflect their workforce’s needs.
This not only enhances operational efficiency but also contributes to a more satisfied and engaged workforce, ultimately making benefits work better for everyone.
At Peppy, we’re excited to be forging the way for AI in reward and benefits. We have built an AI-first Employee Benefits Navigator that transforms benefits comms, utilisation and you guessed it... data. We'd love to show you how Peppy Navigator can provide all the solutions we've discussed in this article and much more in our upcoming webinar. Simply click here to register.
In partnership with Peppy
'The home of benefits. Expert, clinically-led health services in-app, plus an AI-powered employee benefits platform.
