NEW YORK – October 3, 2016 – NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement, and individual insurance and wealth management solutions, has partnered with bnchmrk, a proprietary analytics platform that provides benchmarking solutions for insurance brokers, human resources professionals and employers.
bnchmrk’s Enterprise Platform equips NFP advisors with the tools necessary to strategically compare benefits plans and plan design options side by side for clients. The proprietary database will be periodically updated throughout the year and include relevant benchmarking information on more than 2,500 corporate clients, allowing NFP advisors to provide immediate analysis, relevant marketplace data and comprehensive feedback that informs employers’ policy selection. The platform will be fully operational for NFP advisors nationwide in the fourth quarter.
"The healthcare landscape is ever-changing, and employers need to know how their plans directly measure against their competitors," says Edward O’Malley, President of Corporate Benefits and Individual Solutions at NFP. "We understand that need and sought a solution to help our advisors in the field better serve our clients. bnchmrk’s real-time analytics are a tremendous resource and will provide a competitive advantage in this increasingly complex marketplace."
Also commenting on today’s news, Andrew Kimmel, President and CEO of bnchmrk, said, "We want to help employers remain competitive in their respective markets. Our platform concurrently analyzes various data sets to enable smarter plan design decisions when determining the optimal benefits package. NFP and its team of consultants can now provide employers with the enhanced data they need to make more informed decisions for their business."
At NFP Corp., our solutions and expertise are matched only by our personal commitment to each client’s goals. We’re a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement, and individual insurance and wealth management solutions through our licensed subsidiaries and affiliates.
NFP has more than 3,400 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients’ needs. We’ve become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.
Recently NFP was ranked the 2nd fastest-growing US large-group employee benefits brokers by Employee Benefit Adviser. In addition, Business Insurance ranked us as the 5th largest global benefits broker by revenue, the 4th largest US-based privately owned broker and the 11th largest broker of US business. PlanSponsor ranked us the 5th largest executive benefits provider of nonqualified deferred compensation by number of plans, and we were ranked 11th in personal lines P&C revenue by Insurance Journal.
bnchmrk provides leading cloud-based benchmarking software that simplifies how benefit professionals and insurance carriers collect, manage and analyze plan design and cost data. The bnchmrk Enterprise platform is an interactive, cloud-based resource that provides visibility into employer plan design and cost trends over 2,500 employers. It generates real-time reports, which examine the latest benefit trends across different industries, regions, and sizes. The site is constantly updated with the latest benefits data to ensure real time reporting on medical, dental, vision, life and disability plans.
bnchmrk partners with benefits professionals and insurance carriers to provide the tools and data they need to help employers make more informed benefits decisions. Through access to cloud-based reporting tools and custom reports, our clients will gain a better understanding of what benefits and features employers are currently providing to their employees.
Peppercomm for NFP