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HR tech systems are increasingly using analytics in benefits administration, including using claims data; meanwhile, APIs are enabling better integration with carriers' software.
Employers are increasingly turning to data analytics to complement decision support tools in their benefits administration systems.
They want to be able to tailor specific health and benefits plan recommendations for employees, so they are using benefits administration systems that incorporate claims data and analytics to helps them develop personalized recommendations, HR tech expert Jamie Hawkins says in this podcast.
"We are seeing employers really trying to harness data that they've had and has been siloed in the past," Hawkins, president and CEO of Benefit Technology Resources, says.
Another notable development on the benefits side of human resources technology is the rise of APIs to better integrate benefits administration systems with data warehouses and carriers' systems, which often are hard to share data with, Hawkins says.
"The benefits administration marketplace has talked about APIs and better ways to share data for a long time," she says. "We are finally seeing that come to fruition."
The easier it is to share data, the better the employer and employee experience all around, Hawkins says, adding that the market is moving quickly and employees want and are demanding better tools while employers want easy-to-use tools that are also more flexible and configurable.
Hawkins also says in the podcast that the HR tech sector is seeing more demand for outsourcing services such as call centers and benefits administration systems.
"I believe the reason is HR departments … have a lot on their plate. They have moved to more strategic roles and this benefits piece is still labor intensive," she says. "No matter who's doing [what] -- whether it's the provider or the HR team -- there's a lot to do. Employers would rather save those resources for the strategic aspect of recruiting talented people, retaining talented people."
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