Smart Employee Benefits Inc.

TSX VENTURE : SEB


Smart Employee Benefits Inc.

March 11, 2014 11:46 ET

SEB Announces Appointment of Mr. Bruce Bell as President of Insurance Division

TORONTO, ONTARIO--(Marketwired - March 11, 2014) - Smart Employee Benefits Inc. ("SEB") (TSX VENTURE:SEB), is a technology company providing "business processes software solutions and services" to corporate and government clients with specialty practices focused on "managing group benefit solutions and health claims processing environments." Today SEB announced that Mr. Bruce Bell has joined the company as President of SEB's Insurance and Financial Services Division. This division will provide Insurance and Financial services Brokerage and Group Health Plan administration and claims payment services. Mr. Bell will also join as an Executive VP of SEB.

Mr. Bell brings extensive experience within the Health Insurance sector. He has played a defining role in many of the products and services, which are commonplace today within the industry. As Co-founder and CEO of Health Source Plus ("HSP"), Mr. Bell built one of Canada's leading Third Party Administrators. He was a forerunner in bringing to the SME market alternative funding arrangements and the creation of and the creation of individual and aggregate pooling arrangements (Stop Loss), helping employers to realize significant cost reductions in administration. At HSP he introduced Wellness programs, in the early 2000's to provide employers and employees with the tools and support to address lifestyle related health issues. Mr. Bell was a forerunner in the adoption of electronic claims processing and established a major Quebec based insurers first TPA relationship in Ontario in 2002.

Mr. Bell was a regular panelist and contributor to the Rogers Wellness Roundtable, a past director of the IFB, and a frequent contributor to industry forums and benefit publications, broker training and accreditation programs.

Stated Mr. Bell, "SEB offers a unique opportunity to build on my past and go to the next level. The future of health benefits will be driven by technology, and SEB's integrated Administration and Claims Payment system is state of the art and well ahead of the industry. Our clients gain access to real time data in one seamless environment, which support plan design decisions, while eliminating costly and time consuming administrative and claims payment errors, which are commonplace in the industry today. The SEB technology platform administers and adjudicates all benefit types in one environment, provides the most automated, flexible plan designs in the industry and the only platform to provide self-serve real time reporting. The potent combination of expertise in Health Benefits and the power of a fully integrated solution, will allow us to introduce product and service solutions, that to date have been limited by system capabilities."

Among Bruce's responsibilities will be to identify Brokerage Relationships, looking to enhance and grow their group practices in an increasingly consolidated market. This will include partnering with Brokers looking to grow their practices, or who need to address financial resources, retirement or succession planning issues. SEB can provide both technology solutions and financial support while offering Brokers the flexibility to maintain control of their business activities until such time as best suits the Broker's objectives.

Stated John McKimm, CEO of SEB, "I have known Bruce for several years. One of Bruce's great strengths is his out of the box thinking and deep understanding of technology systems and infrastructures. Bruce's extensive experience in the industry and his exceptional knowledge of business processes and industry practices will be very valuable to SEB as we continue our growth objectives in the benefits industry. As Bruce has noted, the SEB entrance into the benefits industry is technology driven. Bruce has had the opportunity to review, closely, our technology platform and fully comprehends how it can be a game changer in benefits administration processing and claims payment business practices."

ABOUT SEB: SEB is a technology company providing software, solutions and services specializing in managing group benefit solutions and healthcare claims processing environments for corporate and government clients. Health Claims Processing alone is a $60.0 billion industry, of which over $35.0 billion is employee group benefit plans and over $25.0 billion of other healthcare benefit claims (e. g. workers' compensation claims, travel benefits, various federal and provincial government programs, dental associations, drug associations, etc.). In the employee group benefits industry, SEB operates as a Third Party Administrator and Insurance Brokerage utilizing its software platform to provide "totally hosted PCI compliant supply chain solutions" for managing the complete group benefits business processes between insurers, clients, brokers, consultants, technology service providers and healthcare service providers. In healthcare claims processing, SEB also operates as a systems integrator utilizing its technology platform together with other technologies to provide customized, fully integrated solutions for specialized environments (e.g. travel claims, student benefits, hospitals, unique government applications etc.). The technology and expertise deployed in this area also allows SEB to provide other related supply chain, systems integration and human resource solutions and services to the same clients.

For further information about SEB, please visit www.seb-inc.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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