Mercer, a global consulting leader in advancing health, wealth and
careers, and a wholly-owned subsidiary of Marsh & McLennan Companies
(NYSE:MMC), today announced a significant expansion of its relationship
with Benefitfocus (NASDAQ: BNFT), including a strategic equity
investment in the company. Mercer will make an initial 9.9% investment,
with the option to increase its ownership over time.
“Mercer Marketplace has become a leading private benefits exchange for
active employees,” said Julio A. Portalatin, Mercer’s President and
Chief Executive Officer. “The success of Mercer Marketplace is driven by
the flexibility that allows it to meet the needs of a wide range of
companies and individuals. Our proprietary solution – powered by
Benefitfocus technology – is critical to that flexibility as we continue
to innovate and grow together.”
Launched in 2013, Mercer Marketplace grew the number of participating
employers, eligible employees, and eligible lives by five times in 2014.
This rapid expansion continues to demonstrate that, when presented with
a wide range of quality options, many people will choose lower-cost
medical plans that are often better suited to their specific needs. That
behavior, combined with the range of offerings on Mercer Marketplace
allows employers to achieve up to 15% medical plan cost savings as well
as up to 10% savings – shared by both individuals and employers – on
non-medical benefits such as voluntary life and disability.
“This is a milestone for Benefitfocus and a testament to the power of
combining our technological expertise with Mercer’s proven execution and
broad client reach,” said Benefitfocus President and CEO Shawn Jenkins.
“Mercer Marketplace is a catalyst for disruptive innovation within the
health and benefits industry serving more than two million eligible
lives including active employees, retirees, individuals and dependents,”
said Sharon Cunninghis, Mercer Marketplace Leader. “Together with
Benefitfocus we have established a strong relationship that helps power
our proprietary solution and reputation for delivering the best overall
experience in the industry.”
To learn more about Mercer Marketplace, please visit http://www.MercerMarketplace.com.
About Mercer
Mercer is a global consulting leader in talent, health, retirement and
investments. Mercer helps clients around the world advance the health,
wealth and performance of their most vital asset – their people.
Mercer’s more than 20,000 employees are based in 43 countries and the
firm operates in over 140 countries. Mercer is a wholly owned subsidiary
of Marsh
& McLennan Companies (NYSE: MMC), a global team of professional
services companies offering clients advice and solutions in the areas of
risk, strategy and human capital. With 57,000 employees worldwide and
annual revenue exceeding $13 billion, Marsh & McLennan Companies is also
the parent company of Marsh,
a global leader in insurance broking and risk management; Guy
Carpenter, a global leader in providing risk and reinsurance
intermediary services; and Oliver
Wyman, a global leader in management consulting. For more
information, visit www.mercer.com.
Follow Mercer on Twitter @MercerInsights.
Copyright Business Wire 2015