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.'