Benepass Introduces New "Benebot" AI Tool - the Industry's First Third Party Administrator of Pre-Tax and Post-Tax Benefit Accounts with Built-In AI

With Benebot, Benepass harnesses Gen AI to deliver a brand-new approach to user benefits education and support as well as benefits administration

NEW YORK, Nov. 8, 2023 /PRNewswire/ -- Benepass, a modern benefits platform for people-forward companies, today announced Benebot, a Gen AI conversational agent that will be built into the Benepass platform. Combining Benepass's huge horizontal dataset with specific data about a given employee, Benebot allows for a dramatically reinvented user experience that is proactively helpful in navigating the complexity of benefits programs. For benefits administrators, Benebot also gathers important insights into their own employees' benefits usage to help admins identify and respond to important benefits trends.

"Dominated by IRS rules and corporate policies, one of the inescapable challenges of corporate benefits is that they are complicated. The problem is compounded for both employees and employers by an outdated, legacy education and support model," said Jaclyn Chen, CEO, Benepass. "We believe AI provides a new path for companies to support and educate employees and for benefits program administrators to explore, analyze, and extract valuable insights from that data for the first time." 

Now in beta and expected to be available to Benepass customers in Q1 2024, Benebot will offer the following features to employees and benefits program administrators:

For employees, Benebot will give employees the answers they need about their pre- and post-tax benefits accounts at their fingertips. Examples include:

• Help employees personally maximize the value of their benefits, including corporate / IRS policies
• Understand merchant eligibility, make proactive recommendations, and assist with substantiation
• A benefits "personal assistant" who can handle the grunt work of activating a new physical card, submitting an expense for reimbursement, etc., with just a few words
• Auto-generate receipts and auto-substantiate transactions across different benefits and merchants 

For benefits program administrators, Benebot will have the ability to analyze large quantities of employee data from the Benepass data platform and generate insights specifically relevant to program administrators. Examples include:

• Analyzing huge amounts of employee spending behavior to identify trends. Common strategic benefits questions include:
• What areas (e.g. mental health, family formation) saw increased spending?
• How does that vary by demographics? Country, job function, job level, etc.
• Are there correlations between benefits engagement and turnover?
• Troubleshooting data quality issues in integrations via natural language

Benepass will host a webinar, "Unleashing the Power of Generative AI for Total Rewards and Benefits," on Wednesday, November 15, at 1 p.m. ET/10 a.m. PT to demo Benebot and 

discuss how generative AI will transform total rewards and benefits programs. Special guest Mark Fischer, Benepass Head of Product and former Google engineer, will join to discuss how AI can simplify benefits administration and deliver highly personalized and interactive benefits experiences for employers and employees. Sign up to attend here. 

About Benepass:
Benepass helps companies take care of their people. With a single card and mobile app, Benepass consolidates multiple benefits into a single platform, making benefits flexible, intuitive, and easy to use. With Benepass, companies can scale efficiently and say "yes" to a diverse set of employee preferences. Benepass was founded in 2019 by Jaclyn Chen, Kabir Soorya, and Mark Fischer. Additional information about the company can be found at www.getbenepass.com. 

Press Contact:
Rob Marwanga
[email protected]

SOURCE Benepass