CHARLESTON, S.C., Sept. 10, 2019 /PRNewswire/ -- Benefitfocus,
Inc. (NASDAQ: BNFT), a leading cloud-based benefits management
platform and services provider, will host its Carrier Place 2019
executive forum for leaders from the nation's top health insurance
carriers and life and ancillary benefits providers, beginning
Wednesday, September 11, 2019. The
two-day event, held at The Sanctuary on Kiawah Island Golf Resort
at Kiawah Island, SC, will feature
sessions covering the company's strategic platform model for
carrier customers, which serve as an anchor for Benefitfocus'
ecosystem of employers, brokers, partners and consumers.
Benefitfocus President & CEO, Ray
August, will summarize during his opening keynote the
dramatic impact of ongoing investments in the platform.
"Over the past year and a half, we have led a strategic pivot in
our business, centered around consumers," said August. "We are
transforming from a passive relationship with employees to an
active, highly engaged lifetime relationship with
consumers. At Carrier Place, we are demonstrating how our
platform vision and market-leading capabilities are creating new
ways for medical carriers to open greater access to benefits, build
trust and deliver the right member experience and level of
engagement through artificial intelligence."
At the core of the platform is Benefitfocus' AI engine,
BenefitSAIGE™. BenefitSAIGE effectively parses data to provide
Smart Moments that reflect the circumstances of each individual via
alerts, actions and offers. It is the catalyst to engage employees
and their families throughout the year by providing reminders about
employer sponsored benefit offerings products.
The fuel for the BenefitSAIGE engine is data provided by the
Benefitfocus platform – the leading pipeline for data movement in
the benefits industry. It processes more than 2 billion
data-exchange transactions per year, transfers employee payroll
deductions of more than $18 billion
to nearly 100 different human capital management (HCM) integrations
and captures more than $12 billion in
online payment transactions on behalf of our carrier
customers.
The Benefitfocus platform connects the value chain underlying
the industry's largest ecosystem. In addition to long-standing
partnerships with carriers, suppliers and employers, Benefitfocus
has reinvigorated its broker program as part of its business
transformation. This expanding network and future value to those
within it has caught the attention of industry analysts.
Reetika Fleming, Research Vice
President at HFS Research, stated:
"HFS sees hyperconnected ecosystems coming together broadly
around consumers and businesses. In the near future, this will
impact the fundamental structure of the insurance industry, which
is already becoming more fluid to enable new customer interaction
points for carriers. Benefitfocus is taking an ambitious and
progressive stance on becoming one of those ecosystems with
BenefitsPlace. It has a fantastic starting point bringing together
employers, suppliers, consumers, and brokers, and most importantly,
their data to enable meaningful interactions that drive new sources
of value to customers."
By demonstrating the power of connections, Benefitfocus'
ecosystem is generating significant business success. Suppliers now
provide 85 products on BenefitsPlace, its exclusive catalog of
industry-leading health, wealth, property and lifestyle products,
four times as many products as were available last year. In the
broker space, Benefitfocus is now partnering with more than 450
Premier Brokers, after starting the year with just 53 partners.
"We are progressing to the next stage of our journey by
investing in the industry's first, quote-to-pay solution within the
medical insurance carrier market, which enables them to better
serve entire group populations through efficiency and automation,
and compete effectively," August added. "Our road map also points
to other innovative platform solutions that we will announce in the
near future."
About Benefitfocus
Benefitfocus (NASDAQ: BNFT) unifies
the entire U.S. benefits industry on a single technology platform
to protect consumers' health, wealth, property and lifestyle. Our
powerful cloud-based software, data-driven insights and
thoughtfully designed services, enable employers, insurance
brokers, carriers and suppliers to simplify the
complexity of benefits administration and 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 or performance might
differ materially from those explicit or implicit in the
forward-looking statements. Important factors that could cause
actual results to differ materially
include: our ability to compete
effectively; the need to innovate and provide useful products
and services; management of growth; the immature and volatile
nature of the market for our products and services; our
ability to maintain our culture and recruit and retain qualified
personnel; risks related to changing
healthcare and other applicable 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.
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SOURCE Benefitfocus, Inc.