Vendor Analysis
published on Sep 29, 2014
Report Overview:
Secova, founded in 1989 and headquartered in Newport Beach, California, is a U.S. based benefits administration provider focusing on the provision of health and welfare (H&W) services.
Who is this Report for:
NelsonHall's H&W Services Vendor Assessment for Secova is a comprehensive assessment of Secova's H&W offering and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of H&W and identifying vendor suitability for H&W RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the H&W sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Secova's H&W offerings, capabilities, and market and financial strength, including:
- Identification of the company's strategy, emphasis, and new developments
- Analysis of the company's strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company's customer base including the company's targeting strategy and examples of current contracts
- Analysis of the company's offerings and key service components
- Analysis of the company's delivery organization including the location of delivery locations.
Key Findings & Highlights:
The company's H&W service offering includes H&W administration (eligibility management, enrollment, billing and reconciliation, and life events processing), COBRA administration, spending account administration (FSA and HSA), audit services (benefits program audits, dependent eligibility audits, ongoing dependent eligibility management, and coordination of benefits audit), absence management, and retiree administration services.
Secova's H&W services are sold directly to clients and are also available through its channel partners in the U.S. The mid-market is its strongest client base.
Secova serves ~1.1m H&W participants.
