NEW YORK, March 10, 2020 – The Guardian Life Insurance Company of America (Guardian Life) and Nayya, a leading insurance benefits experience and management platform, have announced a joint partnership to provide employers and employees with a personalized, online data-driven benefits experience during the open enrollment process.
“Employers have been expanding their benefit offerings to meet the evolving and diverse needs of their workforce over time, resulting in the need to improve and digitize benefits education as part of the enrollment strategy,” said Chris Smith, Head of Group Benefits, Guardian Life. “By integrating Nayya into the Guardian Life enrollment experience, we will harness the power of data to help educate and guide employees through the benefits selection process.”
According to Guardian’s Workplace Benefits Study, one in four employees feel open enrollment is overwhelming and not very helpful. The research also found that a positive benefits experience – one that is efficient, engaging, and helps employees make better benefits decisions – contributes to an increase in workforce loyalty with 79 percent of employees saying they will stay with their employer five years or more.
By leveraging AI and data science, the Nayya platform aims to simplify the benefits enrollment experience by arming employees with a decision-making tool that gives them the confidence to select the right benefits. Guided by an avatar, employees are asked to provide relevant information, such as location, household demographics and lifestyle. Within minutes, employees receive various plans from their employers that best match their budget and needs.
“We’re excited to join forces with Guardian – an innovator in the voluntary benefits marketplace – to help consumers navigate an increasingly complex journey,” said Sina Chehrazi, Chief Executive Officer, Nayya. “Guardian is taking a bold approach – not only in curating personal consumer experiences – but in transforming consumer understanding of their employee benefits in ways that will change open enrollment and utilization in the industry.”
Nayya links more than 3 billion external data points, including nearly 200 million rows of claims data, to offer curated, confidential guidance on topics such as selecting voluntary benefits, comparing different health insurance options, HSA/401(K) education and finding cost-effective healthcare. Guardian Life, who is an investor of the Nayya platform, will be rolling it out nationally for new and existing clients starting with companies that have more than 50 employees.
To learn more about Guardian’s approach to enrollment, visit Guardian’s Enrollment Hub by clicking here.
Every day, Guardian provides Americans the security they deserve through our insurance and wealth management products and services. Since our founding in 1860, our long-term view has helped our customers prepare for whatever life brings whether starting a family, planning for the future or taking care of employees. Today, we're a Fortune 250 mutual company and a leading provider of life, disability, dental, and other benefits for individuals, at the workplace and through government sponsored programs. The Guardian community of over 9,000 employees and our network of over 2,500 financial representatives is committed to serving with expertise when, where and how our clients need us. Our commitments rest on a strong financial foundation, which at year-end 2019 included $9.3 billion in capital and $1.7 billion in operating income. For more information, please visit guardianlife.com or follow us on Facebook, LinkedIn, Twitter and YouTube.
Nayya was founded by Sina Chehrazi and Akash Magoon in 2019. Nayya is a software and data infrastructure company transforming the way employees choose and use their benefits, driving better financial outcomes for employees and employers. The Nayya platform is powered by billions of consumer data points, millions of rows of claims data, and thousands of data integrations -- helping consumers make data-driven decisions during open enrollments, new employee onboarding, and qualifying life events. The rest of the year, Nayya's employee engagement product tracks financial spending to guide and redirect consumers to file claims programmatically, manage spending accounts, and optimize prescription locations. Nayya is headquartered in New York, NY. Visit https://www.nayya.com/ for more information.
Brenda Mendoza, Communications Director