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San Francisco, California — Wednesday, May 14, 2003 — BenefitPoint, Inc., the employee benefits industry's leading web-based platform for client management and procurement, announced today that it has entered into a partnership with Word & Brown Insurance Administrators Inc. for the use and distribution of the BenefitPoint platform. Word & Brown is one of the nation's largest distributors of health insurance and related administrative services in America, serving more than 30,000 brokers and consulting firms nationwide.
As a result of this partnership, Word & Brown will utilize the BenefitPoint platform for client management that includes annual renewal processing and obtaining competitive bids for evaluation. Word & Brown and BenefitPoint are building a custom program that employs a state-of-the-art commission tracking system and quotes and compares all available health plans for small business groups with two to 50 employees. This enhanced client management platform for small businesses will be launched nationwide through the resources of Word & Brown.
"With this partnership, the BenefitPoint platform will now be in service with small, middle and large group market segments. We look forward to providing tens of thousands of brokers with the power of BenefitPoint's client management and procurement platform through a completely integrated system." said John Randazzo, CEO of BenefitPoint.
"This partnership allows us to provide improved service to our existing customers and creates the opportunity for us to offer an enhanced version of the BenefitPoint platform to a new market of health insurance brokers," said John Word, Co-Founder and Managing Partner of Word & Brown.
About Word & Brown Insurance Administrators Inc.
The Word & Brown General Agency offers complete health insurance distribution services to insurance brokers. In addition, its CaliforniaChoice brand is recognized as the largest distributor of health plans and ancillary health products in California, serving over 10,000 small businesses and more than 150,000 employee participants. The success of the CaliforniaChoice program has led to the recent acquisition of BenefitsAlliance, a 50+ employee health insurance purchasing pool, and the establishment of Choice Administrators, Word & Brown's endeavor to take this proven concept nationwide. In addition, Word & Brown notes that its CONEXIS division is a leading national COBRA, Section 125 and HRA administrator. The firm has over 300 employees and offices in Los Angeles, Orange, San Diego and San Jose. Last year, the Health Insurance Association of America recognized the company's efforts in the areas of cost control for employers and choice for employees with HIAA's prestigious annual "Innovators Award." The award honors one company in America whose contributions that have led to "true industry advancement." Further information on the company may be obtained at www.wordandbrown.com.
About BenefitPoint
BenefitPoint delivers the industry's leading web-based platform for client management and procurement, making it easier for employee benefits professionals to buy, sell and manage benefits. Brokers, consultants and carriers realize expanded business opportunities, operational efficiencies and a greater ability to deliver quality information and services to employers and employees.
BenefitPoint has achieved widespread industry adoption with over 370 broker and consultant offices accessing the system, loading 40,000 employer clients on the platform, covering 22 million employees and approximately $70 billion in premium. Over 420 carrier organizations use BenefitPoint to access broker and consultant RFP and renewal requests.
The company, headquartered in San Francisco, CA, can be reached at 415.277.5600. Take a tour of the BenefitPoint Product Demo and Contact Us through the corporate website at www.benefitpoint.com.
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