NEW YORK, NY – November 30, 2012 – National Financial Partners Corp. (NYSE: NFP), a leading provider of benefits, insurance and wealth management services, announced today that NFP Health, a wholly owned subsidiary of NFP, is expanding its multicarrier private health benefits exchange platform. As a pioneer in the design, implementation and delivery of health benefits exchanges, NFP Health’s unique, full-service exchange platform includes a comprehensive portal solution coupled with an extensive suite of back-office tools that provide complete automation.
NFP Health is one of the largest private exchanges in the country, and excels in the delivery of benefits administration. It has billed over $5 billion in premiums over the past 10 years alone, and its comprehensive approach has resulted in over 150,000 current plan participants and more than 32,000 small business participants. NFP Health offers plans from 12 insurance carriers representing hundreds of plans, including medical, dental and other supplemental types of coverage, making it a true “one-stop shop.” The exchange also works with more than 2,000 brokers in New England.
NFP Health recently enhanced its private benefits exchange solution so that it can be leveraged by any carrier, as well as by state-operated public exchanges, to meet the increasing demand for self-service and administrative tools. The enhancements include a full suite of paperless back-office technology, the first of its kind in the marketplace. NFP Health is also working with several insurance plans to develop self-service tools that enable the plans to be offered online using a proven exchange solution.
Commenting on today’s announcement, Jeff Rich, president of NFP Health, said, “After successfully serving New England for over 40 years, it’s exciting to see our experience and capabilities expand. We are uniquely positioned to effectively serve insurance carriers across the country as well as in the many states that are actively working to develop health insurance exchange platforms.”
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