data analytics – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 03 May 2024 21:03:19 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 2024 Group Benefits Providers Report: Leveraging AI to streamline benefits https://www.benefitscanada.com/archives_/benefits-canada-archive/2024-group-benefits-providers-report-leveraging-ai-to-streamline-benefits/ Fri, 12 Apr 2024 12:57:54 +0000 https://www.benefitscanada.com/?p=154136 While there’s multiple opportunities for the use of artificial intelligence in the employee benefits space — including making the claims process more efficient and personalizing the plan member experience — one of the biggest advantages of the technology is the ability to streamline administrative tasks, allowing employees to focus on more value-added work in addition […]

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]]> 2023 Investment Innovation Conference: The importance of proprietary data in technology, AI investments https://www.benefitscanada.com/canadian-investment-review/post-event-coverage/2023-investment-innovation-conference-pension-funds-investing-in-ai-models-should-seek-out-entities-with-proprietary-data/ Thu, 18 Jan 2024 12:59:12 +0000 https://www.benefitscanada.com/?p=147932 When investing in technology companies with artificial intelligence capabilities, it’s important that institutional investors ensure these entities own — or have relationships with large internet players that own — proprietary data that can deliver value, said Rob Zeuthen, head of secular pod and senior portfolio manager at Newton Investment Management, during the Canadian Investment Review‘s […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-67/ Fri, 05 Jan 2024 14:00:30 +0000 https://www.benefitscanada.com/?p=149898 A story about the B.C. Lottery Corp.’s new inclusive holiday program was the most-read story on BenefitsCanada.com this week. Here are the top five human resources, benefits, pension and investment stories of the past week. 1. BCLC allowing employees to swap statutory holidays for personal, cultural days of significance 2. My Take: Obesity should be treated like […]

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]]> SHEPP diversifying portfolio with alternatives, less dependence on equities https://www.benefitscanada.com/archives_/benefits-canada-archive/shepp-diversifying-portfolio-with-alternatives-less-dependence-on-equities/ Fri, 15 Dec 2023 13:56:22 +0000 https://www.benefitscanada.com/?p=148351 Before Janet Jule joined the Saskatchewan Healthcare Employees’ Pension Plan as its chief investment officer in 2015, the pension plan sponsor started adding a wider variety of assets to its portfolio, emphasizing diversification and lowering its dependence on equities. Indeed, like many other plan sponsors, the SHEPP’s investment strategy is increasingly incorporating more alternative asset […]

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]]> TTC Pension Plan on track to remove surprises from risk assessment https://www.benefitscanada.com/archives_/benefits-canada-archive/ttc-pension-plan-on-track-to-remove-surprises-from-risk-assessment/ Fri, 17 Nov 2023 13:53:57 +0000 https://www.benefitscanada.com/?p=146615 In the institutional investment sector, risk management means thinking about a lot of doom and gloom, but for Danny Ip, the job is more about being prepared for what could happen tomorrow rather than forecasting what storms lie ahead. The TTC Pension Plan’s director of investment risk and analytics employs an analytical approach to measuring […]

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]]> Has the Federal Pay Equity Act helped to close Canada’s gender pay gap? https://www.benefitscanada.com/archives_/benefits-canada-archive/has-the-federal-pay-equity-act-helped-to-close-canadas-gender-pay-gap/ Fri, 15 Sep 2023 12:53:06 +0000 https://www.benefitscanada.com/?p=143413 The Federal Pay Equity Act, which took effect on Aug. 31, 2021, requires all federally regulated employers with 10 or more employees to prepare and post a pay equity plan by Sept. 3, 2024. In addition, it requires all unionized employers or those with 100 or more workers to establish a pay equity plan — […]

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]]> AI tools helping insurers manage plan costs by weeding out instances of benefits fraud https://www.benefitscanada.com/benefits/health-benefits/ai-tools-helping-insurers-manage-plan-costs-by-weeding-out-instances-of-benefits-fraud/ Wed, 06 Sep 2023 13:00:31 +0000 https://www.benefitscanada.com/?p=142721 In 2022, Beneva Inc.’s fraud management department noticed unusual activity under a plan member’s account. The insurer’s artificial intelligence tool, used to analyze millions of benefits claims, flagged that a plan member and the person’s dependant had used up all their maximum coverages within a short period of time. When the plan coverage rolled over […]

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]]> ChatGPT a game-changer for benefits communication, but risks remain with full automation: expert https://www.benefitscanada.com/benefits/benefits-communication/chatgpt-a-game-changer-for-benefits-communication-but-risks-remain-with-full-automation-expert/ Fri, 11 Aug 2023 13:00:07 +0000 https://www.benefitscanada.com/?p=141767 While ChatGPT is helping benefits communications become more efficient, detailed and reliable, the risks may outweigh the rewards when it comes to full automation, says Tom Milne, a principal at Normandin Beaudry. The possibilities for generative artificial intelligence in the benefits space are infinite, he says, noting the algorithms are helping expedite the research and […]

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]]> 2023 Consultants Report: How are consultants helping plan sponsors make the most of their benefits, retirement data? https://www.benefitscanada.com/archives_/benefits-canada-archive/2023-consultants-report-how-are-consultants-helping-plan-sponsors-make-the-most-of-their-benefits-retirement-data/ Fri, 11 Aug 2023 12:56:49 +0000 https://www.benefitscanada.com/?p=141793 In 2022, Xero sent out a global survey to all of its employees asking them to rank the most important components of its total rewards program, from time off to flexible working policies, salaries to employee benefits. The software company’s Canadian employees ranked health benefits as one of the most important aspects of total rewards. […]

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]]> 2022 Healthy Outcomes Conference: Using disability data to improve employee wellness programs https://www.benefitscanada.com/benefits/disability-management/2022-healthy-outcomes-conference-using-disability-data-to-improve-employee-wellness-programs/ Fri, 16 Dec 2022 12:54:09 +0000 https://www.benefitscanada.com/?p=131140 While short- and long-term disability leaves can be challenging and disruptive for both employees and employers, reviewing trends data can help plan sponsors begin to better support workers who are struggling. Ontario Power Generation uses data on disability claims drivers, employee assistance program usage and leave durations to influence its programs, said Tanya Hickey (centre), […]

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