The Future of Benefits Administration: Exploring AI, HR Automation, and Resources for Professionals
June 29, 2023 | Winston
Technology is constantly changing and advancing, and lately, there’s been a lot of talk in nearly every industry about artificial intelligence (AI) and its future role in automating specific tasks. The human resources (HR) world is no exception, and some AI tools have already surfaced to optimize recruitment. While AI’s effect on the industry is still widely uncertain, we are looking at its current role in benefits administration and thoughts on the future.
How Could AI Help Benefits Administrators?
While many AI applications are impressive, to say the least, they’re not without their faults. For example, there are nuances in language and culture that only a human can understand and process and that AI hasn’t mastered. That’s why the most significant shift we predict with AI integration will be to simplify tasks rather than overtake them.
So, what types of help can AI one day provide for benefits administrators? In the future, AI could help with routine tasks such as cost estimation, comparing a broad range of plans, and even scheduling meetings with employees looking for benefits help. While employees will still likely prefer to speak to a real benefits professional for decision support and benefits communication, since according to Forbes, a significant 86% of consumers would still rather talk to a human agent versus a chatbot, the help of AI could help benefits professionals provide more timely support.
What Automation Technologies Currently Exist for Benefits Administration?
AI technology for benefits administration is still widely undiscovered. While some companies offer chatbot technology for customer support, they are mainly used as a segway between the customer and representative to vet the inquiry. However, HR automation as a whole is a rising market. It has been used to help HR professionals streamline repetitive and time-consuming tasks that take away from their more strategic roles and responsibilities to the company.
For example, our SaaS-based technology, HRally®, is used as a tool for HR and benefits professionals giving them the capabilities, content, and features designed to help streamline each area of benefits administration. However, our platform is guided by a team of specialists to ensure that each request is handled efficiently and customized to the customer’s needs. That’s because we know the technology works best when human intervention accompanies it. So, while this is not an AI-generated platform, HR automation is still an innovative market that combines real-life expertise with the efficiency of technology to act as a resource for overburdened HR and benefits teams.
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Disclaimer: This content is strictly informational and should not be used as specific advice on insurance products, legal, accounting, and/or tax related matters. Insureds should always contact the appropriate licensed professional for their insurance, legal, accounting, or tax needs.
