TAMPA, Fla., Aug. 21, 2020 /PRNewswire/ -- Health plan management company BeneBay is excited to welcome Jay McLauchlin on board as their new CEO. Founded with the goal of simplifying and streamlining healthcare decisions for small- to mid-sized businesses, BeneBay expects continued growth and innovation under Mr. McLauchlin's leadership.
Jay McLauchlin is an accomplished healthcare executive with over 30 years' experience in business process outsourcing. He has delivered sustainable and profitable growth working with regional insurance companies as well as large firms, including his time in senior management at Wipro|HealthPlan Services, the largest independent provider of distribution and outsourcing solutions in the insurance and managed care industries. Mr. McLauchlin said about his new position, "I'm really honored and excited to be joining BeneBay as CEO. There's such a need for continued innovation in the group healthcare space. Our focus will be on providing quality products while making the process simpler for all involved."
In 2016 BeneBay released a unique online quoting tool to create a new pathway for small group employers to access affordable health plan designs, technology, and services previously available only to larger groups. Now leveraged by employer groups and partners, BeneBay's innovative quoting technology stands to change the way health benefits are sold and delivered to the millions of people employed by smaller businesses in the US. Backed by an A-rated reinsurance partner, BeneBay's automated plan selection and enrollment tool reduces consumer cost and brings ease and efficiency to the user experience, making the plan process intuitive and reliable for both employers and members.
BeneBay is opening the small group market to the benefits of self- funded health options without exposing employers to excess risk. The company experienced sharp revenue growth from 2018 to 2019 and expects their profits to continue rising dramatically through 2022 and beyond. Co-founder Chandler Rapson said, "BeneBay provides a refreshing approach by meeting the needs of small businesses that have been neglected by large insurance carriers who have continued to punish business owners with large rate increases. BeneBay is poised for explosive growth and we are passionate to deliver on our mission to help small business reduce costs while improving the lives of their employees."
Jay McLauchlin joined BeneBay as CEO on August 17th.