Will leverage SS&C's exchange hub to deliver critical benefits data to multiple insurance carriers
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, announced today that LCS® has selected SS&C's BenefiX™ carrier data exchange hub to transmit employee benefits data to its multiple insurance carriers.
Based in Des Moines, Iowa, LCS is a leading provider of high-quality senior lifestyle products and services, and the third-largest manager of senior living communities. LCS was looking for an automated data exchange solution to pair with Oracle® HCM Cloud platform for human capital management. LCS needed a solution that could communicate with the multiple insurance carriers serving its employees, improve operational efficiency, and reduce costs.
"Following an extensive evaluation, we were extremely impressed with BenefiX. Tightly integrated with Oracle HCM Cloud, BeneFiX communicates employee data securely to all of our multiple insurance carriers," said Jason Victor, VP/Controller at LCS. "SS&C BenefiX was an efficient and cost-effective solution."
"In 2013, Oracle created its standard benefits extract in partnership with SS&C," said Adam Gates, Senior Principal Product Manager at Oracle. "Since the creation of that partnership, many of our Oracle HCM Cloud customers have enjoyed improved accuracy and efficiency with addition of SS&S's BenefiX for automated, secure electronic data transmission of employee benefits information to Insurance carriers."
"BenefiX eases the burden of data integration associated with benefits administration involving multiple insurance carriers," said Adam Hall, SS&C Senior Vice President, "Companies no longer need to write multiple custom applications to send employee benefits data to their carrier partners. A single, standards-based API enables integration with more than 500 of BenefiX's pre-existing carrier connections and ensures secure and seamless data transfer."