April 3, 2017 – Mississauga, ON – Smart Employee Benefits Inc. (“SEB” or the “Company”) is a leading provider of software, solutions and services which manage mission critical systems and infrastructure for corporate and government clients. SEB is pleased to announce it has entered into an agreement with Aon Hewitt Inc. on March 31, 2017, to acquire Aon Hewitt’s mid-market health and welfare administration business in Canada (the “Admin Business”)
The transaction also includes a strategic alliance partnership agreement with Aon. This Admin Business represents 48 clients, many with globally recognized brands, representing over 250,000 plan members across Canada. As part of this transaction, SEB is acquiring several complementary technology platforms and will add approximately 150 employees from across Canada and India.
States Mohamad El Chayah, President of SEB Administrative Services Inc., “This transaction is consistent with our goal of driving meaningful growth across SEB Administrative Services Inc. with innovative products, technologies and services that automate clients’ business processes and enhance clients’ business outcomes. SEB has made a substantial investment over the past five years in business process automation solutions focused on health benefits processing. SEB’s Benefits Exchange Platform includes fully integrated administration, adjudication, claims payment, billing, real time reporting, real time fraud identification and real time analytics for all benefit types in one environment. SEB’s Benefits processing solutions also include a fully automated, content-rich health and wellness platform, document management solutions, standalone fraud and analytics solutions and administration and underwriting solutions, which automate the application, underwriting and administration of new insurance product sales. This transaction with Aon Hewitt is one of multiple transactions SEB will be executing in 2017 in the health benefits processing space.”
The transaction was effective on Friday, March 31, 2017. Financial terms were not disclosed.
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