CHARLESTON, S.C., March 20, 2018 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, launches BENEFITFOCUS BENEFITSPLACE™, a new offering that connects the entire U.S. employee benefits industry. BenefitsPlace unites brokers, employers, carriers and suppliers on a single platform and offers consumers a wide-range of benefits products for personal wellbeing and security at any stage in life. The announcement was made at Benefitfocus' One Place annual user conference.
"For nearly two decades, Benefitfocus has been investing in technology to simplify complex benefits administration for insurance carriers and employers of all sizes," said Ray August, President & CEO, Benefitfocus. "We are now leveraging this experience and investing heavily in our broker relationships to create a truly unified platform across the entire benefits industry. Never before has a technology provider made it this easy for all industry stakeholders to come together and embrace the consumer."
With defined data integration standards for each platform product, as well as preset system and configuration settings, BenefitsPlace offers a turn-key solution for carriers, brokers and employers to access a greater choice of benefits. For the consumer, BenefitsPlace delivers a rich experience, combining decision-support tools for personalized, informed and hassle-free benefits enrollment and management.
The U.S. workforce is more diverse than ever and consumers expect employers to provide non-traditional benefits in addition to core health insurance. BenefitsPlace will add tremendous value to consumers and each benefits industry stakeholder in different ways:
- Insurance carriers and specialty product suppliers have a dedicated product distribution channel through brokers and employers to more than 20 million consumers on the Benefitfocus platform, and easy configuration ensures quick product access.
- Brokers can access a portfolio of preferred products and provide their employer clients a modern, enriched benefits enrollment experience. Benefitfocus provides dedicated support services and data-driven insights to help brokers place high-quality products with their clients with less effort, and at a lower cost.
- Employers receive a total benefits offering with industry-leading health, medical, voluntary life, ancillary, financial and specialty products from flagship brands. This makes providing a variety of benefits easy while reducing the amount of time spent on benefits administration tasks. BenefitsPlace products are also packaged with educational content and videos to ensure consumers are making informed benefits decisions and securing the right coverage for themselves and their families.
Benefitfocus and BenefitsPlace are transforming the entire U.S. employee benefits industry. For more information visit https://www.benefitfocus.com/benefitsplace.
Benefitfocus (NASDAQ: BNFT) provides technology and services that improve the way employers of all sizes manage their benefits investment. Through a combination of powerful cloud-based software, data-driven insights and thoughtfully- designed services, we provide employers, their brokers and insurance carriers with a single partner to deliver a world-class benefits experience. Learn more at www.benefitfocus.com, LinkedIn and Twitter.
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 need to innovate and provide useful products and services; the immature and volatile nature of the market for our products and services and other factors that could impact our anticipated growth; the success of our strategic relationships with third parties; management of growth; fluctuations in our financial results; general economic risks; reliance on key personnel; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; changes in government regulations; 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-filings 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.
SOURCE Benefitfocus, Inc.