Data-driven technology to personalize customer needs is becoming an increasingly important element in benefits administration, according to the head of one leading HR firm.

Surveying the industry, Jon Shanahan, president and CEO of Des Moines, Iowa-headquartered Businessolver, said it has undergone a radical transformation, including dealing with the introduction of the Affordable Care Act (ACA), also known as Obamacare, and its possible repeal.

“HR professionals have faced a steady cadence of evolving regulations and reporting requirements,” Shanahan told HR Daily Wire. “HR professionals need solutions that help them not only conquer the increasing complexities and demands of their job but also engage their employees in choosing – and more importantly, using – their benefits year-round.”

Shanahan said his company’s uniquely designed software platform puts it in a good position to create an effective experience for all employees.

The technology was designed so that customers can configure the solution to meet the unique needs of their organization, he said. And the future of benefits administration will continue to evolve through data-driven personalization.

“Benefits technologies will improve their ability to gather and analyze data in real-time, and in turn, use those insights to help inform and improve users’ benefits experience," Shanahan said. “For example, if a user is trying to schedule an annual outpatient procedure, the benefits technology platform could provide guidance on when to book the appointment based on how that user is tracking in meeting their annual deductible.”

He said the evolution of the ACA, both its implementation and possible repeal, provide opportunities for benefits administration companies.

“When the ACA was implemented, HR professionals were suddenly dealt with a stream of new compliance and reporting requirements,” Shanahan said. “To help customers meet the new complexities of their role, Businessolver introduced its ACA Compliance Suite which enabled organizations to more easily and effectively meet the law’s requirements. With the future of healthcare legislation uncertain, there will be tremendous need and opportunity to continue providing solutions that support HR professionals in managing the increasingly complex landscape.”

In addition, Americans spend just 19 minutes or less on average selecting their benefits each year, which is not much time to deal with something so important to well being and quality of life, Shanahan said.

In a wide-ranging analysis of the state of the industry and his company’s role in providing benefits services, Shanahan said people often sign up without really knowing what they are selecting.

“I have spent most of my career in the insurance industry and quickly realized from the start how critical it is that people understand and actually use their benefits,” he said. “That realization was a main motivator in the founding of Businessolver. We wanted to create a solution that made the benefits experience more effective for everyone – for HR professionals who manage the process and for employees who enroll and use the benefits.”

His company is dedicated to making the benefits selection process an “ongoing engagement” throughout the year rather than a one time decision by employees. This makes sense when considering how important health insurance and financial savings programs are to people's quality of life.

Businessolver, Shanahan said, will stay ahead of the game “through a deep commitment to tracking and understanding current and evolving legislation that impacts the industry, as well as other trends that affect HR professionals.”

By keeping pulse of the pressing changes and issues affecting HR professionals, Businessolver is able to better understand and meet the needs of its customers, he added.