February 2020 Edition

Today, more companies are leveraging data analytics to provide critical insights into operations that lead to process improvements, drive revenue and improve profitability – within marketing and finance functions^.1

Now corporate benefits leaders are also embracing the power of data analytics to provide actionable insights. Including which benefits plans and options appeal to diverse employee populations. 

In-depth analysis of benefits data can help HR managers drive cost savings and increase employee satisfaction. A few ways this happens is improving how employees use the benefits – and improving how carriers and providers manage care. With the right data, benefits managers have the information they need to adjust plan details and pivot on coverages to better match employees' most desirable needs.

But according to a recent survey of corporate benefits managers, only 18 percent think their companies have the right mix of tools for analyzing benefit usage.²  What's more, 53 percent noted access to data is their most pressing concern..²  In addition, once employers see their benefits data, many often struggle synthesizing and acting on that information.

Secure Insights - Breakthrough insights from data

Securian Financial, in collaboration with LIMRA, recently launched Secure Insights – which provides a panoramic view of the employee life insurance plan and identifies coverage gaps. 

With overwhelming amounts of available data, the challenge has always been on where to focus one’s efforts. Yet with intuitive reports like Secure Insights, the job is getting easier for today's benefit leaders.

The beauty behind Secure Insights is that it finds opportunities to improve insurance and benefits coverage for vast numbers of employees. Managers receive comprehensive, relevant information in a customized client report tailored to their company.

The dynamic output comes from comprehensive modeling and data analytics, using three accurate data sources:

1. Employee census data
2. LIMRA research
3. Third-party data

Every report includes a proprietary score that summarizes employees’ preparedness to protect their family from the negative consequences of a death or accident. The tool evaluates employees' financial needs in various scenarios, assesses existing resources, and calculates any financial gaps. Secure Insights also provides the employer with benchmarking, so they can see how they stack up to others in their industry.

As a result, HR managers can help employees avert coverage gaps, ultimately leading to higher employee utilization and appreciation for the benefits provided by the company.

Interested in learning more about Secure Insights’ robust data analytics capabilities? Contact us anytime.

 1. Brown, Tammy.  Data analytics offers a peek behind the curtain in employee benefits plans, benefitspro.com, August 19, 2019.

 2. Place, Alyssa. "Employers should ‘double down’ on tech and benefits data analytics. Most still aren’t." benefitnews.com, December 11, 2019.

Insurance products are underwritten by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not a New York authorized insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues.

Securian Financial is the marketing name for Securian Financial Group, Inc., and its affiliates. Minnesota Life Insurance Company and Securian Life Insurance Company are affiliates of Securian Financial Group, Inc.

F88782-28 2-2020   DOFU 2-2020
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