NEW YORK – March 2, 2021 – NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement and individual solutions today announced a multi-year extension of their partnership with Xevant, a leading provider of pharmacy analytics and automation solutions.
The partnership enables continued collaboration in creating tools that lower pharmacy benefits costs for employers. Together NFP’s Rx Solutions Group and Xevant partnered to create TrendLogic, a data-centric strategy to assist employers in identifying cost containment opportunities and managing prescription drug expenses. Employers using TrendLogic are able to better identify and manage core pharmacy cost contributors and reduce their pharmacy costs by 9%-15% on average. TrendLogic represents one example of how NFP and Xevant are creating inventive pharmacy benefits solutions that create better outcomes, including lower costs, for employers and their employees.
“We’re happy to extend our partnership with Xevant,” said David Lee, president of the Rx Solutions Group at NFP. “Xevant’s analytics offer meaningful information for employers navigating the challenges of pharmacy benefits and add value to the insights and offerings we provide our clients. Providing leading-edge solutions to support our clients remains a top priority for us and partnering with Xevant enhances our ability to deliver meaningful and sustained value to employers.”
“NFP has made it a priority to provide solutions that reduce costs for clients, which aligns well with what we’re working to accomplish at Xevant,” said Brandon Newman, CEO of Xevant. “We’re excited to continue this partnership and provide the information and analysis that allow employers to make better decisions and better manage their pharmacy costs. We see the trends of rising costs and understand the challenge that creates for employers. We hope to help address their concerns by providing data-driven solutions that help them continue to support employees with meaningful Rx benefits.”
NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,800 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 5th best place to work in insurance and 6th largest US-based privately owned broker (Business Insurance); 9th commercial lines agency by P&C commercial lines revenue and 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best’s Review).
Founded in 2017, Xevant delivers analytics and automation solutions that create value for customers in the payer, TPA, consulting, broker, and PBM markets. By providing instantaneous access to crucial analytics, this innovative platform enables an entirely new way of managing an enterprise and its clients as well as delivers immediate and long-lasting results aimed at reducing costs and improving outcomes.