Benefitfocus and Thomsons Online Benefits Collaborate to Support Employee Benefits for Multinational Employers Leading providers of benefits software team up to support clients with global operations
CHARLESTON, S.C., Nov. 12, 2013 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits solutions in the U.S., and Thomsons Online Benefits (Thomsons) today announced a collaborative effort to expand the adoption of each company's benefits administration systems to serve clients with global operations. Through its data exchange capabilities, Benefitfocus allows employers to integrate all benefits-related information within BENEFITFOCUS HR INTOUCH®, a single online portal to administer benefit enrollment and the distribution of employee communication. Likewise, with a Software as a Service delivery model, Thomsons Darwin™ is benefits management and employee engagement software that offers self-service during enrollment through user-friendly decision support and informative video. The collaboration between Thomsons and Benefitfocus provides multinational corporations a linked solution for global benefits administration.
Using a one-to-many data exchange model, Benefitfocus has the ability to transmit benefits information from employers to third parties such as insurance carriers, voluntary benefits providers and Thomsons. Establishing these types of data exchange connections is an integral part of the Benefitfocus Portfolio of Products & Services. Leveraging this one-to-many data exchange model along with Thomsons' capabilities in automating benefits administration, multinational employers can improve the efficiency and accuracy of their data in global benefits administration.
"Healthcare regulations and benefit programs vary widely from country to country," stated Shawn Jenkins, President and CEO of Benefitfocus. "Through this relationship with Thomsons, we are creating a benefits management network that combines our knowledge of complex U.S. benefits with Thomsons' experience in international benefits. Collaboration between multiple benefits administration systems has been an attractive solution for employers with a worldwide presence, and Benefitfocus and Thomsons are pleased to offer this service in response to the growing demand."
This collaboration facilitates the transmission of employee benefits data for an entire global workforce, conveniently transferring information to enrollment systems based on employee location. Employers using HR INTOUCH as their cloud-based enrollment and employee communications portal can elect Thomsons Darwin™ for benefits administration overseas. In the same way, international employers using Darwin™ can utilize HR INTOUCH as their employee benefits solution in the U.S.
Both HR INTOUCH and Darwin™ offer a suite of automation and reporting tools that employers can use to drive efficiency and create cost transparency within their benefits administration. Deployed by a number of Fortune 100 companies, Darwin™ securely connects with benefits providers, HR systems and payroll systems to offer a single source of data for employees and HR managers. Currently deployed in more than 60 countries in 15 languages, Darwin™ automates a large portion of a company's benefits processes, helping to reduce administrative costs and to free up HR teams for other value-added tasks.
"Benefitfocus shares our goal to provide best in class benefits software," said Chris Wakely, head of Thomsons North America. "We are both committed to innovation and continued investment to meet the evolving business needs of employers. Our collaborative effort offers businesses a strategic benefits administration solution that meets multi-country market requirements so they're able to deliver an engaging enrollment experience to all of their employees."
Thomsons Online Benefits transforms the way multinational companies manage their benefits and engage their employees globally through its cloud-based software solution. The rapidly growing company has won more than 65 awards for its clients' use of technology, engagement and communication. With more than 280 clients across 60 countries, Thomsons has attracted a prestigious portfolio of clients that includes six of the world's top 10 software companies, four of the world's top pharmaceutical companies and five of the world's leading banks. Thomsons DARWIN™ is a trademark of Thomsons Online Benefits. For more information, please visit: http://global.thomsons.com.
Benefitfocus, Inc. (NASDAQ: BNFT) is a leading provider of cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. Benefitfocus has served more than 20 million consumers on its platform that consists of an integrated portfolio of products and services enabling clients to more efficiently shop, enroll, manage and exchange benefits information. With a user-friendly interface and consumer-centric design, the Benefitfocus Platform provides one place for consumers to access all their benefits. Benefitfocus solutions support the administration of all types of benefits including core medical, dental and other voluntary benefits plans as well as wellness programs. The Benefitfocus logo and HR INTOUCH are registered trademarks of Benefitfocus.com, Inc. For more information, visit www.benefitfocus.com.
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the immature and volatile market for our products and services; the need to innovate and provide useful products and services; our dependence on the success of relationships with third parties like Thomsons; competition, privacy, security and other risks associated with our business; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec.cfm or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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