Wise Peakon: Reimagining benefits – simplifying work for HR and unlocking value for employees
01 Overview
Wise Peakon is an AI-powered benefits management SaaS solution designed to streamline benefits administration, optimize budgeting, and enhance employee engagement by providing clear visibility into their compensation packages. Wise Peakon creates a smarter, more connected benefits experience.
Duration
6 weeks
The Team
4 UX designers
Tools Used
Figma
02 The challenge
When benefits become a burden
Managing benefits is a daunting task, the HR teams face countless hours of manual work—balancing budgets, ensuring compliance, and piecing together fragmented tools. On the other hand, employees are often left in the dark, unaware of the valuable perks and compensation that could improve their lives.
The gap between HR efficiency and employee awareness has real costs: disengagement, frustration, and missed opportunities.
Listening to the struggles
To understand the problem more deeply, we interviewed HR leaders like Lesley Hanak, CHRO at SCAD, and other HR professionals and employees from SCAD. Two key challenges we uncovered:
Challenge 1: Employee Benefits Awareness - Lack of Transparency
Employees don’t see the full value of their benefits, which include:
• Medical plans, cafeteria meal plans, etc.
• Perks like parking, gym memberships, first-year sign-on bonuses, training opportunities and other long-term benefits
HR struggles to package and explain benefits data in a way that is clear, comprehensive, and relatable to employees.
• “It is extremely hard to show the total benefits package for each employee.”
• “It’s hard to put all these benefits into one story.”
Challenge 2: HR Benefits Management - Inefficient Data Prediction and Budgeting
HR teams rely on manual processes for
• Annual health data analysis.
• Monthly budgeting for benefits, including medical expenses.
• Department-specific expense tracking.
Current workflows are time-consuming:
• “Currently, once a year in July, we work with insurance companies to track medical plan performance.”
“We are constantly in estimation mode, and it may take several months to research and balance all benefits.”
• Benchmarking, co-pays, loss ratios, and expense reports take significant time.
03 The process
Reimagining benefits management
What if benefits could work smarter—for everyone? This question drove the creation of Wise Peakon. We envisioned a platform that would make benefits management seamless for HR teams while empowering employees to appreciate the full value of their compensation.
Two systems, one solution
To address the distinct needs of HR professionals and employees, Wise Peakon offers two systems: Benefits Analytics & Management for HR and Employee Benefits Management for employees. It can be used as a standalone platform or integrated into existing systems, making benefits management seamless and personalized for all.
System Frameworks
Information Architecture
04 The solution
HR System
Smart Analytics
Comprehensive analysis of benefits costs, utilizing intuitive data visualization, predictive insights based on historical data, and identification of optimization opportunities.
Empowers HR teams to make informed decisions, enhance budget planning, and improve benefits offerings.
Peakon AI Insight
Identifies optimization opportunities and presents actionable recommendations to help HR professionals make informed decisions and enhance their employee benefits programs.
Benefits Management
Detailed plan information and streamlined open enrollment settings offer a comprehensive view of specific plan details.
Leveraging CPT health codes to facilitate the analysis of average medical claims, HR teams can gain a comprehensive understanding of the cost and utilization patterns within their employee benefits programs.
Explore Plan Partners
Employ algorithm to analyze the cost in relation to the existing benefit plan, and provide HR with the percentage value of potential cost savings, enabling them to make an informed decision in selecting a more suitable partner.
Employee System
Employee’s Total Package
Employees can gain convenient access to their complete personalized benefits information. This interface is designed to foster a sense of validation and value. Whether during onboarding or when acquiring new benefits, this feature ensures a satisfying and engaging experience for employees.
Employee’s Insurance Data
Employees can access their insurance data to track how much they've spent and how much remains eligible for deduction. They can also personalize their dashboard if they want a specific benefit to be displayed on the main dashboard.
Peakon Recommendation
Wise Peakon can analyze users’ input data to recommend the best options based on their specific insurance usage or needs. (e.g., they want a plan with a low deductible, or they need coverage for a specific medical condition), system could analyze and compare different plans and recommend the ones that best meet the user's needs.
