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Jul 18, 2019

Benefitfocus Signs National Premier Broker Arrangements with USI and CBIZ

Premier Broker Program brings value to mutual customers, positioning platform for long-term growth

CHARLESTON, S.C., July 18, 2019 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, announced today two national Premier Broker arrangements, with USI Insurance Services and CBIZ Benefits & Insurance Services, Inc., strengthening the company's commitment to the benefits broker community.

Benefitfocus logo (PRNewsFoto/Benefitfocus, Inc.) (PRNewsfoto/Benefitfocus, Inc.)

The national broker partners will be supported by a dedicated broker success team, a first in the industry, providing oversight and strategic alignment of all shared clients for each Premier Broker. With the support of a dedicated team, the national partners can help their clients create tailored benefits solutions that improve their employees' health, financial wellness and security.

"The continued success of the Premier Broker Program aligns strategically with our vision to unify the entire industry on a single benefits platform so that everyone wins," states Benefitfocus President & CEO, Ray August. "We're thrilled to welcome USI and CBIZ as national Premier Brokers, further demonstrating Benefitfocus' continued commitment to align with the brokerage community for the success of our mutual customers."

All Premier Broker partners have access to Benefitfocus' BrokerPlace 365 portal, a proprietary tool available only for Premier Brokers. The tool provides insights and analytics to help design and measure the effectiveness of plan design, communication strategies and the status of joint client initiatives.

Since launching in 2018, the Premier Broker Program has seen dramatic growth and is built to deliver against the Benefitfocus Broker Promise, which ensures three clear commitments to the entire broker community:

  1. Deliver a world-class benefits experience for mutual clients.
  2. Enhance the broker's value proposition to their clients.
  3. Help win, retain, and grow the broker's book of business.

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 and carriers 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: the need to innovate and provide useful products and services; management of growth; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; the immature and volatile nature of the market for our products and services; 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.

Benefitfocus, Inc., 843-284-1052 ext. 3527, pr@benefitfocus.com