Chicago-based technology company Jellyvision announced on Monday that it has acquired Picwell, a health technology company based in artificial intelligence (AI) generated benefit decision support, in a move to power highly personalized employee benefits experiences for its clients.
Jellyvision is best known for its ALEX platform, an interactive benefits counselor that helps employees navigate their employer-provided benefits. With the acquisition of Picwell, Jellyvision will be able to expand its capabilities by incorporating Picwell\’s advanced technology for personalized health plan recommendations.
\”By bringing together Jellyvision\’s expertise in communication and engagement with Picwell\’s expertise in data-driven decision-making, we\’ll be able to offer our clients a truly personalized benefits experience,\” said Amanda Lannert, CEO of Jellyvision. \”We\’re thrilled to welcome the talented team at Picwell to the Jellyvision family and look forward to working together to revolutionize the way employees think about and engage with their benefits.\”
Picwell uses artificial intelligence and machine learning to analyze vast amounts of data on health plans and individual health factors to provide personalized recommendations for health insurance plans. This will allow Jellyvision to provide more accurate and actionable advice to employees, helping them to better understand and take advantage of their benefits.
The acquisition is a strategic move for Jellyvision, as it aims to help employers improve the overall employee experience by providing them with more personalized and meaningful benefits information. By combining the capabilities of both companies, Jellyvision hopes to increase employee engagement and satisfaction with their benefits package.
\”We\’re excited to join forces with Jellyvision and to bring our personalized approach to health plan recommendations to a wider audience,\” said Picwell CEO, Josh Cohen. \”We believe that this acquisition will have a positive impact on the healthcare system as a whole, by helping employees make more informed decisions about their health and their benefits.\”
The financial terms of the deal were not disclosed. The acquisition is set to close in the coming weeks and the Picwell team will be integrated into Jellyvision. This acquisition will allow Jellyvision to expand its offering to employers and enhance its employee experience. Combining the capabilities of both companies will not only help the employees make more informed decisions but will also help the employers to offer the best-fit benefits to their employees. The success of the acquisition will largely depend on how well both teams integrate and bring the synergies to deliver better outcomes. This move by Jellyvision will be closely watched by the industry and benefits consulting firms as it can set a new standard for personalized employee benefits experiences.
