Treating employee benefits as more than a checkbox
MetLife has teamed up with Nayya to tackle a pervasive issue: Nearly half of US employees do not fully grasp their benefits packages as revealed by MetLife’s recent study. This partnership with Nayya, an AI platform specializing in benefits decision support and engagement, is MetLife’s answer to this challenge, aiming to empower workers to make informed decisions about their benefits.
The lack of understanding surrounding employee benefits is alarming, especially considering that 62% of employees express that better comprehension of their benefits would contribute to a heightened sense of stability, while 50% believe it would foster greater loyalty towards their employer.
“While employees recognize the need for benefits, our research shows there are key barriers to employees’ understanding of what benefits are offered, how they can be used during critical moments and also year-round to support their personal needs and financial goals,” said Bradd Chignoli, Senior Vice President for National Accounts & Financial Wellness at MetLife.
MetLife will become the exclusive insurance carrier to offer Nayya’s solutions to companies with over 1,000 U.S. employees at no extra cost. Workers will receive personalized recommendations across a range of benefits, including medical, dental, vision, and life insurance, marking a significant step forward in ensuring that benefits packages become a well-understood component of employee well-being.
“This collaboration couldn’t come at a more critical time to support today’s employees’ holistic health. Together, we’re paving the way to deliver on the full promise and potential of the US benefits industry,” Nayya CEO and founder Sina Chehrazi said.
Ultimately, the partnership between MetLife and Nayya is set to make employee benefits more accessible, understandable, and user-friendly, with the rollout commencing in the first quarter of 2024.
