Case Study: Laboratory Testing Services Company adds voluntary benefits and cuts administrative costs with Corestream

Laboratory Testing Services Company Adds New Voluntary Benefits While Cutting Administrative Costs

A laboratory testing services company wanted to offer its 40,000+ employees a wider selection of voluntary benefits, specifically more auto and home insurance carrier choices. However, its tech and payroll teams were already at maximum capacity administering two existing programs. The challenge was to expand choice and introduce a new purchasing program benefit without increasing any administrative costs or effort for the company. To solve this, they turned to Corestream.

Corestream consolidated the two existing benefit deductions into a single, simplified payroll slot, which instantly reduced the administrative burden. This freed up the capacity to scale the auto & home insurance offer from one carrier to three and introduce a new insurance quote comparison tool for employees. Furthermore, Corestream provided ongoing consulting to help the company educate its workforce on the value of new benefits like purchasing programs. The results were significant, with enrollments growing from 4,384 at launch to 10,804 today, a 55% increase, proving the strategy's success.