Benefits Administration Company PlanSource Acquires Instant Benefits
Network
Acquisition Designates PlanSource as Only U.S.-Based Company to
Manage a Broker’s Entire Book of Business with a Single Solution
BOULDER, Colo. (Business Wire EON/PRWEB ) December 3, 2008 --
PlanSource,
a Web-based HR and benefits administration company serving
the needs of brokers and benefits professionals, has acquired Instant
Benefits Network (IBN), a leading provider of Web-based products
and services designed to meet the technology needs of benefits
brokers serving the small and medium-sized business market.
As a result of the acquisition, PlanSource is now the only company in
the U.S. that can effectively manage a broker’s entire book of business
with a single solution.
The acquisition is expected to increase sales and revenue opportunities
through an expanded product portfolio, a broader geographic presence and
a large customer base of benefits brokers who continually seek
innovative solutions to enhance their value proposition. This merger
nearly doubles the company’s broker network. The new
partnership will deliver many benefits, including the complementary
products IBN offers that round out a suite of services for brokers. For
example, IBN’s products are ideal for smaller groups, whereas the
products offered by PlanSource are best suited for medium-sized groups.
PlanSource President Scott
Carver applauds the acquisition, as it now positively impacts his
company’s offerings to brokers. “No one understands small group benefits
like IBN,” Carver said. “The exceptional products they offer help
position PlanSource as the most advanced benefits administration solution
for small and medium-sized businesses in the market today.”
IBN CEO Steve Kutina, who founded the company eight years ago, believes
this marriage will serve his clients well. “Joining forces with
PlanSource allows us to progress from simply collecting medically
underwritten information on small groups to managing the entire benefits
procurement and administrative process. I’m not aware of another
solution like this in the market today.”
About PlanSource
PlanSource
has redefined the way benefits and HR professionals
select, implement and manage employee benefit programs for small
and medium-sized businesses. The company is unique in the
marketplace in that it offers a platform capable of
delivering an unprecedented level of self-service functionality
in the areas of insurance procurement, customer
onboarding and ongoing administration. This technology
is simple and intuitive enough to enable employers, brokers
and others to get through the implementation process
without the customization and configuration requirements that have been
the primary impediment to broad adoption within this market. PlanSource
is headquartered in Boulder, Colo. and has an office in Salt Lake City,
Utah.
About Instant Benefits Network
Instant
Benefits Network is a leading provider of Web-based
products designed to meet the technology needs of the benefits
broker. IBN provides small group enrollment and underwriting
tools, along with broker and human resource Web
sites. IBN is headquartered in Spokane, Wash.
See the original story at: http://eon.businesswire.com/releases/instant_benefits/benefits_network/prweb1701114.htm
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