Ebenex and Onlinebenefits Form Strategic Partnership
"OnlineBenefits provides a unique and robust suite of human resource tools that provides employees with quick and simple access to detailed, easy-to-understand information about their benefits. Marrying their expertise in content and communications to our specialized expertise in managing the complex financial and administrative transactions with carriers will create a solution that streamlines HR administration. It frees up HR staff to focus on more strategic issues and gives employees 24-hour access to the benefits information they want," said Jeff Rosenblum, president, eBenX Mid-Market. "The value of integrating benefits content with enrollment eligibility became evident last year when our two companies implemented several joint clients. The response to this integrated concept was overwhelmingly positive."
"eBenX holds a strong position as the leader in the emerging category of health and welfare benefits specialists," said Alan Cohen, chief executive officer of OnlineBenefits. "Our strategic relationship with eBenX will expand OnlineBenefits' capabilities and create a synergy that will help us accomplish our mutual goal of providing an integrated benefits administration and communications product that produces immediate, measurable cost savings and a solid return on investment for our mid-sized employer clients."
The eBenX/OnlineBenefits joint product is expected to be available beginning in late summer 2001 and will be distributed through select insurance brokers. Initially, the product will be administered on an ASP basis, allowing for employee and employer self-service benefits administration.
In addition to marketing the joint product, eBenX and OnlineBenefits will market each other's existing products and services. "Not only does OnlineBenefits strongly complement our existing work in the mid-market, it also provides us with an important new distribution channel," said Mr. Rosenblum. "OnlineBenefits recently announced that over 100 of the nation's top insurance brokers had signed contracts to offer its value added services."
OnlineBenefits also will transfer responsibility for its enrollment product, Benergy Enroll, to eBenX.
About OnlineBenefits
OnlineBenefits, Inc. designs, implements and hosts Internet-based applications that enable employees to learn about, plan for and enroll in benefits. Its customers include employers of all sizes as well as brokers and vendors who provide benefit services to Human Resources. OnlineBenefits currently has over 2,400 customers and 600,000 adult users. For more information about OnlineBenefits products and services, please visit www.onlinebenefits.com.
About eBenX
eBenX (http://www.ebenx.com) provides specialized technology-based solutions for the administration of health and welfare benefits programs. By applying the Internet, proprietary technology and strategic support services, eBenX simplifies and automates the complex, ongoing and multiple transactions associated with the administration and exchange of data and dollars between parties in the health and welfare benefit supply chain. The result is reduced administrative and medical costs for employers; improved efficiencies and strengthened client relationships for brokers and other benefit advisors; reduced administrative costs and the ability to offer multi-carrier products for health plans and carriers; and more choice, convenience and improved service for employees and their dependents.