Vendor Analysis
published on Oct 09, 2019
Report Overview:
Benefitfocus has taken a lead in providing both a platform to provide a more proactive year-round H&W participant experience and in positioning itself at the heart of a wider ecosystem involving brokers and carriers
Who is this Report for:
NelsonHall’s Next Generation Benefits Administration in North America: vendor assessment for Benefitfocus is a comprehensive assessment of Benefitfocus’ benefits administration offering and capabilities, designed for:
- Sourcing managers and operations executives investigating developments within the benefits administration market
- Vendor marketing, sales and business managers developing strategies to target service opportunities within the North American benefits administration market
- Financial analysts and investors specializing in the business process and operations transformation services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Benefitfocus’s offerings, capabilities, and market and financial strength, including:
- Revenue summary
- Analysis of the company’s benefits administration offerings
- Analysis of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Identification of the company’s strategy, emphasis, and new developments within its technology and services
- Analysis of the company’s strengths, challenges, and outlook
Key Findings & Highlights:
Benefitfocus was founded in 2000 and traditionally focused on two markets:
- Large medical carriers and payers: serving 150K small and medium-sized employer groups (1-999 employees) in the U.S. largely following the profile of U.S. companies nationally
- Direct to employer: serving ~1,000 organizations with >1,000 employees.
Overall the company supports ~25m U.S. employees and members.
However, following a change of leadership in 2018, the company introduced a new strategy and ambition is repositioning from a "software company" to a "platform company", "shifting its focus to consumer lives and ARPU and leveraging channel partners and brokers".