February 17, 2022 – Mississauga, ON:
Smart Employee Benefits Inc., (“SEB” or the Company) (TSXV:SEB, OTCQX: SEBFF), is pleased to announce multiple benefits solution wins and renewals as follows:
- New 3-year contract for 155,000 investment accounts to provide payment processing services for the TELUS Health virtual healthcare app. SEB’s “FlexPlus® PAY” secure digital payment solution provides unique functionality to enrol, manage and support subscriptions.
- New 5-year contract with new multi-national corporate client, representing 2,300 plan members, to provide Benefits Administration services.
- New 5-year contract to provide design, set up and administration services for a white-labelled “digital retiree health insurance product” for a large national benefits consulting channel partner, underwritten by one of the largest group and life Insurers in Canada.
- Renewal: 5-year renewal of an existing high-technology client to provide benefits administration on a fully outsourced basis, for approximately 4,500 employees.
States Mohamad El Chayah, COO of SEB and President/CEO of SEB Administrative Services Inc. (“SEB Admin”): “We are thrilled with these wins, especially those that are driven by our innovation agenda and help us venture into new markets. This demonstrates the breadth of our solutions, the depth of our services and the flexibility and adaptability of our products.”
About SEB Administrative Services Inc.
SEB Administrative Services Inc. (“SEB Admin”), a wholly owned subsidiary of Smart Employee Benefits Inc. (“SEB”, TSXV:SEB), is a third-party administrator (“TPA”) providing leading edge cloud-based, fully bilingual, benefit processing solutions using SEB Admin’s proprietary and customized technologies, solutions and services of Partners. SEB Admin’s “FlexPlus” platform provides single sign-on connectivity for all group benefit stakeholders. FlexPlus® has over 20 modules supporting multiple revenue models, capturing over 90% of all benefit processing activities for all benefit types. Each module can operate standalone or as an integrated solution. SEB Admin manages benefit plan environments for more than 50 of Canada’s name brand companies and government entities. SEB Admin has over 370,000 plan members under administration and more than 160,000 additional plan members under contract and in transition; in total representing more than $1.3B of premium. FlexPlus® cloud-enabled solutions support all plan designs – traditional, flex, cafeteria, hour bank, dollar bank, marketplace – via co-sourced, fully outsourced or SaaS models. Our solutions turn cost centers to profit centers for many of our clients and partners.
For further information about SEB Administrative Services Inc., please visit: www.seb-admin.com.
About Smart Employee Benefits Inc. (“SEB”):
SEB is a proven provider of leading-edge IT and benefits processing software, solutions and Services for the Life and Group benefits marketplace and government. We design, customize, build, and manage mission critical, end-to-end technology, people and infrastructure solutions using SEB’s proprietary technologies and expertise and partner technologies. We manage mission critical business processes for over 150 blue chip and government accounts, nationally and globally. Over 90% of our revenue and contracts are multi-year recurring revenue streams contracts related to government, insurance, healthcare, benefits and e-commerce. Our solutions are supported nationally and globally by over 600 multi-certified technical professionals in a multi-lingual infrastructure, from 8 offices across Canada and globally.
Our solutions include both software and Services driven ecosystems including multiple SaaS solutions, cloud solutions & Services, managed Services offering smart sourcing (near shore/offshore), managed security Services, custom software development and support, professional Services, deep systems integration expertise and multiple specialty practice areas including AI, CRM, BI, Portals, EDI, e-commerce, digital transformation, analytics, project management to mention a few. The Company has more than 20 strategic partnerships/relationships with leading global and regional technology and consulting organizations.
Certain information in this release, may constitute forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS RELEASE REPRESENTS THE COMPANY’S CURRENT EXPECTATIONS AND, ACCORDINGLY, IS SUBJECT TO CHANGE. HOWEVER, THE COMPANY EXPRESSLY DISCLAIMS ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING INFORMATION, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED BY APPLICABLE LAW.
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All figures are in Canadian dollars unless otherwise stated.
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