Mississauga, Ontario, March 11, 2022 (GLOBE NEWSWIRE) — Smart Employee Benefits Inc. (“SEB” or us) (TSXV: SEB, OTCQB: SEBFF) has received an extension and net new business agreement worth over $ 22.2. M. This brings over $ 205 million in contract acquisitions and extensions over the last 15 months. SEB’s RFP sales pipeline includes tens of millions of dollars in contracts, with decisions pending over the next few months. In addition, SEB’s “White Label TPA” sales pipeline includes billions of dollars in premiums, of which approximately $ 2 billion are in the process of being negotiated. Currently, SEB has more than 530,000 plan members, which is equivalent to approximately $ 1.3 billion in premiums. Approximately 370,000 plan members have been fully deployed on SEB’s benefits processing TPA platform, with more than 160,000 in transition. SEB solutions can earn over 90% of the fees spent managing plan members. This usually ranges from 7% to 10% of the premium.
Smart Employee Benefits Inc. About (“SEB”):
SEB is a proven provider of state-of-the-art IT and benefits processing software, solutions, and life insurance and group benefits markets and government services. Design, customize, build, and manage mission-critical end-to-end technology, talent, and infrastructure solutions using SEB’s unique technology and expertise, and partner technology. Manages mission-critical business processes for accounts of over 150 leading companies and government agencies, both domestically and globally. Over 90% of our revenues and contracts are multi-year periodic revenue stream contracts related to government, insurance, medical, benefits, and e-commerce. Our solutions are supported nationally and globally by more than 600 certified technical professionals in our multilingual infrastructure from eight offices across Canada and around the world.
Our solutions include multiple SaaS solutions, cloud solutions and services, managed services that provide smart sourcing (nearshore / offshore), managed security services, custom software development and support, professional services, and deep expertise in system integration. Includes both software and service-driven ecosystems. Specialty areas such as AI, CRM, BI, portals, EDI, e-commerce, digital transformation, analytics and project management. We have over 20 strategic partnerships / relationships with leading technology and consulting organizations worldwide and in the region.
Description of future prospects
Certain information in this release may constitute information about the future outlook. In some cases, but not all, forward-looking information includes forward-looking terms such as “plan,” “goal,” “expect,” or “not expect,” and “expected.” Can be identified using. , “Opportunity exists”, “positioned”, “estimate”, “intended”, “assume”, “expect”, “unexpected”, “believe”, or of such words or phrases Events or outcomes that describe variations, or specific actions, are “possible,” “possible,” “possible,” “possible,” “possible,” or “possible.” “Acquired”, “occurred” or “achieved”. In addition, statements that refer to expectations, expectations, or other characteristics of future events or situations contain information about the future outlook. Statements containing forward-looking information represent management expectations, estimates, and forecasts of future events, not past facts.
The forward-looking information contained in this release represents our current expectations and is subject to change accordingly. However, we expressly disclaim any intention or obligation to update or revise future outlook information as new information, future events, or other consequences, except as required by applicable law.
Neither TSX Venture Exchange Inc. nor its regulatory service provider (the term is defined in the policy of TSX Venture Exchange Inc.) is responsible for the validity or accuracy of this release.
All figures are in Canadian dollars unless otherwise stated.
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Office (888) 939-8885 x 2354
Cell (416) 460-2817
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SEB> $ 22M new contract acquisition increases 15-month acquisition to> $ 205M, Canadian Business Journal
Source link SEB> $ 22M new contract acquisition increases 15-month acquisition to> $ 205M, Canadian Business Journal