Wednesday, July 29, 2020

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A Game-Changer in Employee Benefits: The latest on Honan's Partnership with Zest

By Eliza White (Managing Director - Asia) & Jessie Leow (Head of Employee Benefits - Asia)

The Honan-Zest partnership was inspired by a gap in the market for a highly flexible, intuitive, truly innovative employee benefits platform. After a busy initial launch period, we checked in with the team to learn how Zest has been received across our global client network.

How would you describe Zest?

Zest is an online one-stop shop for everything benefits, insurance, flexible spending, engagement, and wellness. It integrates seamlessly with payroll systems, HR systems and insurer portals.

How have clients responded to Zest thus far?

Since partnering with Zest, the response from our existing clients and new business prospects has been tremendous. Many clients are already seeing Zest overcome major pain points previously experienced; employee engagement pulse-checks are now seamless, reporting takes seconds, and customising the interface in line with their brand identity can be done in a matter of clicks. The clincher? It’s a market-leading product, but also incredibly affordable! Many of our clients are even upgrading their own clients to Zest - everyone’s saving time and money - everyone is winning!

What kinds of businesses are turning to Honan for their Employee Benefits Program (EBP) needs?

We’ve been inundated with enquiries from companies who recognise the importance of harnessing the latest technologies as part of their EBP strategy. The quality of data and reporting offered by Zest means our clients are making more accurate, informed EB decisions than ever before. Furthermore, Zest’s ability to transcend borders and languages, means multinationals can execute a global strategy that resonates across multiple audiences.

Zest is also helping large companies in gathering previously unavailable regional insights, such as the tax and CPF status of their claims.

Most common Question you’re receiving about Employee Benefits Programs?

Q: How can Honan Group Asia and Zest assist in managing our challenges with a global EBP?

Plan Designs: we can support all forms of funding used by a benefits plan. Programs utilising employee-funding, multinational pooling, captive arrangements or traditional insurance are easily captured by Zest.

Cost Optimisation: Zest promotes data driven decision-making and preventive healthcare intervention. The analytics functionality of the platform allows us to support clients in identifying trends more quickly, contain costs, and represent risks at renewal more precisely.

Technology: being an ‘out-of-the-box’ solution, Zest is customisable to each client’s particular needs; simply and quickly. While customisation typically comes at a premium, we’re able to offer this at a truly affordable price with Zest. Manual processes are also removed thanks to self-service at every touchpoint of the platform; from benefit selection and updating of dependent information or submission of claims for employees, to employee communication and payroll reports.

What are some key current trends in EBPs?

Return to Office Strategies: Many of our clients are reconsidering their approach to remote and flexible working arrangements, and this will need to be reflected in their EBPs.

Cost Containment & Program Analytics: This is a significant priority for many businesses who  have been impacted financially by COVID-19.

The Rise of Employee Assistance Programs: Strategies to address employee mental health, wellness, social isolation and financial wellbeing.

With You All the Way

For more about this new partnership, catch our initial announcement on Honan’s new Zest Platform here. To explore more about how Zest can benefit your people and business, please reach out to our team at any time.

Read more from this issue of HoneIn:

Meet Head of Strategy, Lea Mac

Discover our forecast of insurance trends and business implications

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