Psyon set to shake up UK Employee Benefits Market

12 September 2017 – Punter Southall Health & Protection’s technology business Risk Policy Administration (RPA) has rebranded today as Psyon.

Psyon has launched to offer UK businesses, intermediaries and insurers real-time digital and data solutions to transform how they manage and administer their employee health, protection and wellbeing benefits.

The business has grown substantially in recent years, supporting Punter Southall Health & Protection clients, and providing services to all major Group Protection Insurers.

The team at Psyon will build on this success and bring employee benefits and insurance data to life for UK companies by providing them with innovative real-time data services.

The company incorporates two business divisions – a software technology arm, Psyon Digital Services, led by Nicky Dunderdale and a data analytics and actuarial division, Psyon Insights, which is headed by Anna Spender.

Psyon Digital Services will offer clients two proprietary technology platforms – Psyon Elysium and Psyon Flex.

Psyon Elysium is a unique, market-leading employee benefits online administration platform which improves the management of employee benefits. It provides clients with accurate and up to date data on all aspects of their employee benefits. This includes insurance policies, membership information, renewals, claims and spending.

Over 200 of Punter Southall Health & Protection clients are already using the platform which they know as Gladis – a brand that will be retained for existing and future Punter Southall Health & Protection clients.

In addition, the team at Psyon will work with other intermediaries to further develop the client portfolio and offer Psyon Elysium to the wider HR and benefits community to modernise the management and administration of benefits industry-wide.

Psyon Flex is the company’s bespoke flexible and voluntary benefits platform, which has experienced rapid growth and the additional of several new clients in the past year.

Psyon Insights provides data analytics and actuarial consulting services. The Psyon Insights team will work with leading insurers, reinsurers and intermediaries, as well as corporate clients who want an in-depth understanding of their employee benefits data.

The team will blend and analyse data from multiple sources, enabling employers to make informed decisions, monitor and effect changes to their benefits strategy with confidence. They will also deliver a wellbeing consultancy service for clients. This data-led service will use analytics to help employers understand the underlying health risks within their workforce – insights which will enable them to design an effective, bespoke employee wellbeing strategy.

Commenting on Psyon’s launch Nicky Dunderdale said, “Psyon has been launched in recognition of growing demand for intuitive digital solutions to improve the management of employee benefits. Our team combines technical expertise with energy, drive and passion to create and deliver visionary, real-time digital solutions with the ability to radically transform and improve the management of employee benefits.”

Anna Spender added, “In terms of innovation, the world of employee benefits can feel left behind. Psyon’s digital and data analytics services is set to change this – providing technology that will make benefits management far easier, more efficient and cost effective and data that give real insights and understanding of all aspects employee benefits. This knowledge will help employers shape their benefits to meet the needs of their workforce now and in the future.”