CHARLESTON, S.C., Sept. 11, 2019 /PRNewswire/ -- Benefitfocus,
Inc. (NASDAQ: BNFT), a leading cloud-based benefits management
platform and services provider, today announced MarketPlace
Exchange 2.0, an innovative connection between MarketPlace Exchange
and MarketPlace Enrollment. The introduction of MarketPlace
Exchange 2.0 today solves three major carrier business challenges
all without adding administrative burden: it enhances their
communication and collaboration with members; improves data access
and analytics for member populations and employers using disparate
enrollment systems; and offers them the ability to clearly
differentiate themselves with additional best-in-class voluntary
and specialty benefits choices to complement their existing
offerings.
Benefitfocus President & CEO Ray
August introduced MarketPlace Exchange 2.0 to carriers
attending Carrier Place 2019, the executive forum for leaders from
the nation's top health insurance carriers and life and ancillary
benefits providers held at The Sanctuary on Kiawah Island Golf
Resort, at Kiawah Island,
SC.
"MarketPlace Exchange 2.0 bridges the gap between what consumers
need to protect their health, wealth and lifestyle, and their
employer's technological and financial limitations. It also offers
brokers a single strategic source for specialty products that
consumers and employers want to flesh out their portfolios," August
said. "In the end, it means carriers can expand their engagement
with members, serve previously unmet needs, and gain a crucial
competitive advantage, with no additional responsibility on their
end."
MarketPlace Exchange 2.0 accelerates enrollment and renewals for
even the most complex groups submitting files and streamlines
enrollment and administration for commercial group and individual
markets. This newly built integration within MarketPlace
Exchange 2.0 introduces new automation allowing for accelerated
file transfer and consolidated reporting, providing employers and
carriers with easier access to more data. It also provides a
user-friendly content management system to support customized
member communication and group-level task lists to manage
day-to-day work required to effectively manage each group in the
carrier's network. In addition, MarketPlace Exchange 2.0 provides
an integrated suite of dashboards that may be dynamically viewed
and configured to support and enhance member analytics and
communications. Furthermore, MarketPlace Exchange 2.0 provides
carriers the unique opportunity to offer their members
BenefitsPlace™, an exclusive catalog of
industry-leading products, that complement their own medical and
health benefits, all on an AI-powered consumer benefits
platform.
This single platform advantage extends the connection for
carriers and now enables employers to offer consumers complementary
and specialty products from trusted suppliers without added
administrative burden. Consumers will have the chance to more
easily access the additional benefits they want and need.
About Benefitfocus
Benefitfocus (NASDAQ: BNFT) unifies
the 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.