Brokers & Consultants

One of the major problems that brokers/consultants deal with is what to do with vast amounts of accessible information. As the trusted advisor, brokers must not only collect and analyze multiple streams of complex data but must also present those findings (and recommendations) in a clear, defendable way. This process is highly technical and time-consuming.

BST solves these issues by providing the most advanced automated tools in the industry. Our solutions allow you to grow your practice at scale by ensuring less time is spent digging into data and more time is dedicated to consulting and prospecting.

Problems BST is Solving for Brokers/Consultants

  1. Automated Reports
  2. Plan Optimization and Customization
  3. Data Warehousing and Quality
Automated Reports

BST has automated over 200+ reports – plan design, stop loss, etc… that are client-ready and can be downloaded in multiple formats making it presentable and easy to use. BST goes even further to prescriptive Smart Cards, which intelligently identify problems and offer specific, actionable recommendations.

Plan Optimization and Customization

Many consulting shops struggle with understaffed underwriting departments. BST’s proprietary Plan Optimizer generates unlimited plan design scenarios in mere seconds.

Data Warehousing and Quality

Every broker has dealt with data errors. BST’s commitment to world-class data quality process ensures that brokers can confidently present the data from our warehouse.

How We Support Brokers/Consultants

  1. Data Warehouse
  2. Quality Analytics
  3. Descriptive Analytics
  4. Predictive Analytics
  5. Prescriptive Analytics
Data Warehouse

With 24/7 access to all relevant plan data, the warehouse allows Brokers/Consultants to:

  • Aggregate all relevant plan data for immediate or long-term use.
  • Securely store and access your own data.
  • Normalize continuous in-depth data analysis.
Quality Analytics

BST solves the problems that many Brokers/Consultants face with data discrepancies, member matching inconsistencies, outdated data validations, and slow processing times.  BST’s technology allows for:

  • The utilization of advanced data science to ingest data into a modern engine.
  • Comparisons among data sets to measure quality and rationale of newly ingested data.
  • Optimal machine learning-based approaches that maximize true member matches and identify hard-to-match records.
  • The leveraging of computer power and speed to load monthly files in under an average of 3 minutes.
Descriptive Analytics

BST delivers actionable business intelligence to Brokers/Consultants through customized financial and clinical reports, enabling them to:

  • Gain access to large data sets quickly. With our tools, employers will see fresh, relevant, monthly data quicker than competitors, with access to data within 30 days of us receiving it.
  • Uncover emerging risks throughout the year.
  • Better advise and hold vendor partners accountable.
  • Make unbiased, transparent, and cost-effective decisions.
  • Meet HIPAA/ERISA compliance standards.
  • Be accessible anywhere through a secure (SOCII/SAAE16) cloud-based platform.
Predictive Analytics

BST stratifies risk, evaluates data at a granular level, and identifies a health plan’s high-cost drivers, allowing Brokers/Consultants to:

  • Gain insight into advanced risk models that predict future high-cost claimants.
  • Obey the overall premium, business quality, and tier movement constraints to efficiently and appropriately place each group into the best risk allocation tier.
Prescriptive Analytics

How would client consultations improve if you could run plan design scenarios (that account for budget constraints) on the spot? BST Plan Optimizer can do all of this in under 10 seconds! Brokers/Consultants have access to:

  • Cutting-edge plan optimization tool that solves for a best plan based on budget constraints and health plan goals.
  • Smartcards recommendations, within the tool, that provide specific actions to take in order to address certain challenges in the current health plan.
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