{"product_id":"empyrean-benefits-administration","title":"Empyrean - Benefits Administration","description":"\u003cp\u003eEmpyrean - Benefits Administration\u003c\/p\u003e\n\n\u003cp\u003eWho is This Vendor Assessment For?\u003c\/p\u003e\n\n\u003cp\u003eNelsonHall’s Benefits Administration profile on Empyrean is a comprehensive assessment of Empyrean offerings and capabilities, designed for:\u003cbr\u003e\n• Sourcing managers monitoring the capabilities of existing suppliers of Benefits Administration Services and identifying vendor suitability for security services RFPs\u003cbr\u003e\n• Vendor marketing, sales, and business managers looking to benchmark themselves against their peers\u003cbr\u003e\n• Financial analysts and investors specializing in the Benefits Administration Services sector.\u003c\/p\u003e\n\n\u003cp\u003eKey Findings \u0026amp; Highlights\u003c\/p\u003e\n\n\u003cp\u003eThis NelsonHall vendor assessment analyzes Empyrean’s offerings and capabilities in Benefits Administration Services.\u003c\/p\u003e\n\n\u003cp\u003eEmpyrean, headquartered in Houston, Texas, is a provider of technology and services for employee benefits administration, benefits education, and communication. It is a subsidiary of Securian Financial Group, Inc (Securian Financial), a North American financial services organization providing insurance, investment, and retirement solutions through a number of subsidiary companies.\u003c\/p\u003e\n\n\u003cp\u003eThe benefits business was founded in 2006 when Empyrean entered the benefits market with the objective of providing service-focused health and welfare benefits administration services, underpinned by its proprietary technology and now positions as a technology-enabled benefits administration company. Empyrean markets its benefits platform and\/or benefits administration services to:\u003cbr\u003e\n• Employers (~80% of business): includes benefits administration services and its proprietary technology to both large and mid-market sized organizations with over 1.5k employees\u003cbr\u003e\n• Brokers and consultants (~10% of business): includes a white-label offering which primarily consists of Empyrean’s proprietary technology platform, for small employers with 500 – 2.5k employees\u003cbr\u003e\n• Healthcare exchanges and carriers (~10% of business): includes supplying its proprietary technology to insurance companies to facilitate enrollment and supplying its technology to facilitate private exchanges\u003c\/p\u003e\n\n\u003cp\u003eHistorically, Empyrean targeted large market organizations (with \u0026gt;10k employees) in the U.S. for its benefits administration services. In 2012, it launched a mid-market offering to facilitate growth down-market.\u003c\/p\u003e\n\n\u003cp\u003eEmpyrean has largely grown its benefits administration business organically. In June 2016, it acquired Bloom Health after a three-year partnership whereby Empyrean supplied the back-end engine for Bloom Health’s private exchange. Empyrean was acquired in December 2019 by Securian Financial.\u003c\/p\u003e\n\n\u003cp\u003eEmpyrean has ~400 clients, supporting ~3.6m participants focused on the North American market, serving clients in both the U.S. and Canada.\u003c\/p\u003e\n\n\u003cp\u003eScope of the Report\u003c\/p\u003e\n\n\u003cp\u003eThe report provides a comprehensive and objective analysis of Empyrean’s Benefits Administration Service offerings and capabilities, and market and financial strengths, including:\u003cbr\u003e\n• Identification of the company’s strategy, emphasis, and new developments\u003cbr\u003e\n• Analysis of the company’s strengths, weaknesses, and outlook\u003cbr\u003e\n• Revenue estimates\u003cbr\u003e\n• Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts\u003cbr\u003e\n• Analysis of the company’s offerings and key service components\u003cbr\u003e\n• Analysis of the company’s delivery organization including the location of delivery locations.\u003c\/p\u003e","brand":"Service Industrries","offers":[{"title":"February, 2022 \/ 11 Pages \/ MCW16270671","offer_id":47707278541106,"sku":null,"price":2160.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/empyrean-benefits-administration","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}