Infinisource Spins Off its HCM Technology Business
COLDWATER, Mich., Sept. 6, 2016 /PRNewswire/ -- Infinisource has spun off its HCM technology business unit as iSolved HCM. Infinisource will continue as Infinisource Benefit Services and will focus primarily on administration of COBRA, FSA, HRA, ERISA, and additional associated services. iSolved HCM will move forward as a separate unit and concentrate on growing the market share for its human capital management technology through a mix of direct sales and the iSolved Network, a collection of certified providers who use the iSolved platform to service their customers.
"Infinisource has been partnering with insurance brokers and employers for over 30 years to deliver COBRA and fringe benefits," stated Jody Oliver, Chief Executive Officer of Infinisource Benefit Services. "Spinning off the technology business allows us to more fully focus on those critical services. Our experience in this industry is second to none, and we are committed to our broker partners and are adding products and services that supplement and enhance our core offerings."
This strategic decision will allow the Infinisource Benefit Services and iSolved HCM business units to leverage their critical competencies and enhance how they serve their respective customers. The result of the separation will be two best-in-class units with distinct business models, partners and growth expectations. The two businesses will continue to share referrals and partner together to provide a combined solution when appropriate.
Infinisource Benefit Services is headquartered in Coldwater, Michigan, and serves over 17,000 customers. It started in October of 1986 as COBRA Compliance Systems and has successfully processed over 8 million COBRA notices without a single adverse judgment or penalty. It is an established, service-oriented company that offers white-glove service for critical benefits administration, partnering with brokers and employers in every state to deliver services to both the employer and the employee/participant.
Along with COBRA and Flexible Spending Account (FSA) services, Infinisource Benefit Services offers ACA Print & File service, ERISA Wrap documents, Premium Only Plans, Transit Plans, and HR Legal Services.
About Infinisource Benefit Services
Infinisource Benefit Services has been a leader in the COBRA and benefits administration industry since it started in 1986. Over the past 30 years, Infinisource Benefit Services has grown and expanded to include administration for COBRA, Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Arrangements. Infinisource Benefit Services has processed more than 5,000,000 FSA/HRA claims and that number continues to grow. With 30 years of experience comes a unique understanding of employers' needs and how to best provide for those needs. For more information, visit www.infinisource.com.
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SOURCE Infinisource Benefit Services
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