BenefitPoint Acquires Online Enrollment and Benefits Communications Company, Whereiwork, From Marsh USA.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--Aug. 7, 2001 Transaction Includes a 5-Year Exclusive Operating Agreement An operating agreement is an agreement among limited liability company ("LLC") members governing the LLC's business, and Member's financial and management rights and duties. No state requires an LLC to have an Operating agreement. and $5 Million Investment by William M. Mercer and Marsh USA BenefitPoint, the leading eInfrastructure company for the distribution and management of employee benefits, today announced it has acquired the online enrollment and benefits communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. , whereiwork, from Marsh USA, Inc., a division of Marsh & McLennan Companies (ticker ticker An automated quotation system on which security transactions are reported after they occur on an exchange floor. Even though the newer systems are electronic and no longer actually tick, the name of the old mechanical device has stuck. :MMC See MultiMediaCard and Microsoft Management Console. ), the world's leading risk and insurance services firm. In addition, Marsh USA Inc., and William M. Mercer, Inc. have signed a 5-year operating agreement with BenefitPoint making it their exclusive technology partner for client management and procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. . The operating agreement also makes whereiwork an exclusive enrollment and communications solution for Marsh USA and a preferred solution for William M. Mercer. The acquisition of whereiwork completes BenefitPoint's original vision of connecting carriers, brokers, employers and employees in a seamless, end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. . The whereiwork application allows employers to provide online solutions to their employees so they can understand their benefits, make elections, review HR policies, and print HR forms and documents. These tools educate employees, as well as automate the online enrollment, benefits administration and eligibility processes to lessen the administrative burden for an employer's HR staff. CommunicationStudio, whereiwork's benefits communication product is being actively distributed exclusively through BenefitPoint's network of over 150 brokers and consultants. In 2002, BenefitPoint will introduce the first end-to-end application for the distribution and management of employee benefits, integrating the whereiwork enrollment platform with the existing BenefitPoint suite of products. For the first time, brokers and consultants will service their customers through the entire lifecycle of an employee benefits product -- from evaluation and procurement, through enrollment and communications. "This partnership is more than merely semantics semantics [Gr.,=significant] in general, the study of the relationship between words and meanings. The empirical study of word meanings and sentence meanings in existing languages is a branch of linguistics; the abstract study of meaning in relation to language or . The whereiwork people, application and data have all been physically moved into the BenefitPoint facilities. Our new, combined organization is working together under one roof to provide our customers with leading edge, web-based products and services they can offer to their employer clients," said Kurt de Grosz grosz n. pl. gro·szy See Table at currency. [Polish, from Czech gro , chief sales officer and co-founder of BenefitPoint. "The acquisition of whereiwork is a strategic step in executing our vision of providing integrated solutions that connect carriers, brokers, employers, and employees." "With whereiwork, a BenefitPoint broker can easily add benefits enrollment and communications to the range of offerings they currently deliver to their customers. The integrated platform will simplify and expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. employer implementations by using the exact same set of data already gathered for the procurement process," said Gabrielle Peterson, vice president of employer solutions at BenefitPoint and formerly Manager of Operations at whereiwork. "Most brokers and consultants already participate in benefits communications campaigns to assist their clients with open enrollment activity. Using whereiwork will minimize redundancies and streamline the process." About whereiwork Whereiwork delivers Internet-based human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. tools for employers, focusing on benefits administration, communications, enrollment and employee services. Based in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Calif. and located in the BenefitPoint offices, whereiwork serves small to mid-sized companies nationwide. Whereiwork may be reached at 1-877/771-1388, or at http://info.whereiwork.com. Whereiwork is a division of BenefitPoint, which is privately held. About BenefitPoint BenefitPoint delivers the leading Internet-based employee benefits infrastructure for the distribution and management of group insurance and financial products. As the central nervous system of the employee benefits industry, the BenefitPoint application suite provides a complete set of B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business services enabling benefits professionals to manage the entire group health insurance and benefits lifecycle. Building on the existing industry relationships among carriers, brokers, employers and employees, the BenefitPoint platform combines the efficiency of the Internet with the established distribution model of the insurance industry to eliminate paper, to deliver more products and services, and to make better information available. Releasing its first solution in February 2000, BenefitPoint has received widespread industry adoption from regional and national insurance carriers as well as from more than 150 of the leading U.S.-based brokerage and consulting firms Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a . The company, headquartered in San Francisco, Calif., may be reached at 415/277-5600 or at www.benefitpoint.com. BenefitPoint is privately held. Note to Editors: Whereiwork and BenefitPoint are trademarks of BenefitPoint Holding Company. All other company and product names mentioned here are trademarks of their respective owners. |
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