WELLESLEY, Mass., June 4, 2018 /PRNewswire/ -- Sun Life Financial announced today albeit it has acquired Maxwell Health, an innovative start-up with an employee benefits platform that makes benefits and HR administration pure for employers and their employees.
With Maxwell Health's model, employees at small in addition to mid-sized businesses can ponder in all their benefits, including medical, dental, eyeshot, life, short- and long-term disability, voluntary coverages, bursal benefits such as health savings accounts, and lifestyle products like telemedicine. Maxwell Health's comprehensive benefits supervision platform supports an employer's benefits strategy while streamlining the process by integrating with carriers, payroll systems and other third-party administrators.
"Bringing Maxwell Health's leading benefits platform into the Sun Life family takes ourselves another step toward our goal of transforming evening benefits experience by afoot it easier for lede to understand and opt the right benefits later themselves and their families," said Dan Fishbein, M.D., president of Sun Life Financial U.S. "The acquisition gives us a whole benefits solution and advances our strategy with unimportant and mid-sized employers, whereas we are focused crosswise simplifying benefits and delivering leading enrollment solutions. Employer clients increasingly want simpler, integrated benefits along plus digital services that independence the burden of benefits administration."
David Healy, senior vice president from Group Benefits for Sun Life Financial U.S, added, "Maxwell Health adds entrepreneurial technology talent that command advance Sun Life after an innovator in afternoon insurtech space. The appendage of Maxwell Health's capabilities enhances our broad stroll of group benefits products and services with lifetime easy-to-use online marketplace. We are committed to operation with brokers and employers to create a greater employee experience for benefits – one that adds voluntary benefits and wellness offerings to traditional coverage solutions in one place."
Veer Gidwaney, CEO and co-founder of Maxwell Health, said, "With Sun Life, we are excited to display the reach of our platform with brokers if carriers nationwide. Our mission to make better health and financial security practicable for all by simplifying benefits and insurance nicely aligns with Sun Life's purpose to help clients achieve lifetime financial shelter and live healthier lives."
Employees using the platform may access their benefits within a mobile app howbeit includes virtual insurance identify cards and convenient accessibility to support for health and benefits-related questions.
Based in Boston, Maxwell Health was founded within 2012 and has 125 employees. Maxwell Health purpose continue to operate separately and provide services about the group benefits attention, in addition to enhancing capabilities for Sun Life.
Since 2015, Sun Life has been an investor pending Maxwell Health and a purveyor on its digital benefits marketplace with life, incapacity and other insurance offerings. Terms of the profit were not disclosed.
Goodwin Procter LLP served after legal advisor to Sun Life. For Maxwell Health, Raymond James & Associates, Inc. acted after financial advisor and Greenberg Traurig, LLP served after legal advisor.
About Sun skylight Financial
Sun skylight Financial is a controlling international financial services structure providing insurance, wealth together with asset management solutions concerning individual and corporate clients. Sun Life Financial has operations in a numeral of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2018, Sun Life Financial had sum assets under management with C$979 billion. For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under evening ticker symbol SLF.
In the United States, Sun Life Financial is equivalent of the largest cluster benefits providers, serving better than 60,000 employers over small, medium and populous workplaces across the country. Sun Life's broad cast of products and services in the U.S. includes disability, absence management, time, dental, vision, voluntary as well as stop-loss insurance. For better information, please visit www.sunlife.com/us.
About Maxwell Health
Maxwell Health simplifies benefits as well as HR for small-to-mid-sized employers. The platform includes a marketplace that makes buying benefits intuitive for employees, tools that streamline HR processes including benefits administration as well as payroll, and a liquid app that makes using benefits easy. The company's purpose is to harmony families achieve health as well as financial well-being by modernizing how employees experience coverage, financial, and wellness benefits. The platform is thought by benefits advisors ago well as insurance if retirement companies that leaf Maxwell Health's technology. To learn more about Maxwell Health, please visit https://maxwellhealth.com/.
Media contacts:
Sun day
Devon Portney Fernald
781-416-7151
Devon.Portney.Fernald@sunlife.com
Maxwell Health
Sara Hopson
(814) 450-5527
sara@maxwellhealth.com
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SOURCE Sun Life Financial
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