February 21, 2023 – Mississauga, ON
SEB Administrative Services Inc. (“SEB Admin”), a subsidiary of Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) (OTCQB: SEBFF), an Insurtech provider of cloud based, end-to-end IT and Benefit Processing solutions for the life and group benefits marketplace and government, is pleased to announce that it has signed an agreement with VUMI® Canada Inc., a privately-owned Canadian company that is part of VUMI® Group, an international healthcare management group that delivers the best health care worldwide through an unparalleled VIP service experience.
VUMI® Canada helps protect both your physical and financial health by offering high-quality medical services tailored to your needs. More importantly, its extensive global coverage gives you the peace of mind that comes with knowing you and your loved ones are covered at all times – anywhere in the world. A medical insurance plan from VUMI® Canada comes with these distinct advantages:
- Worldwide medical coverage
- Open global network with free choice of hospitals and healthcare providers across five continents
- Expertise in U.S. and international claims management
- VIP Patient Concierge Services®
- Second Medical Opinion VIP®
- In-house administration of benefits and cost control measures
- A strong, stable, and well-managed company that cares for your health
States Mohamad El Chayah, COO of SEB and President & CEO of SEB Administrative Services, “As our healthcare system continues to be strained by capacity issues, VUMI® Canada offers an innovative product that has increasing relevance for Canadians, many of whom have found themselves waiting for necessary healthcare services due to backlogs and limited resources. Offering a healthcare product that provides employees with the flexibility to receive accelerated treatment anywhere in the world, is not only important to employees but also to employers looking to enhance benefits coverage and access to care for their workforce. We see VUMI’s products and services as a key value-added benefit that employers can offer as part of their attraction and retention strategies for all employees, not just their executives.”
States Gino Stirpe, Vice President of VUMI® Canada, “We are very excited to be partnering with SEB and we look forward to helping Canadians access international medical insurance through this new arrangement.
Our company’s iconic VIP service offers treatment in a matter of days or weeks, not the months that had become the norm in Canada even before the onset of COVID. In addition, the needs of Canada’s growing senior population had become a further strain to the country’s health care system. In less than two years, VUMI® Canada has distinguished itself as a leader in International Private Medical Insurance (iPMI). VUMI® Canada’s innovative Prestige VIP insurance plans offer clients access to medical technologies that may not yet be available in Canada, such as molecular drug profiling, targeted immunotherapy drugs, and proton therapy for brain tumors. Such options can often mean the difference between life and death”.
About VUMI® Canada Inc.
VUMI® Canada Inc. (“VUMI® Canada” or “VUMI®”), is a privately-owned Canadian company that is part of VUMI® Group, an international healthcare group with operational offices around the world. The group is privately owned and is part of a global healthcare management group with more than 35 years of experience in the industry, and employs more than 600 employees of various nationalities across the globe – all driven by a common mission: To deliver the best health care worldwide through an unparalleled VIP service experience.
For more information about VUMI® Canada, please visit: www.vumicanada.com.
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 350,000 plan members under administration and more than 180,000 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 is an Insurtech company focused on Benefits Administration Technology driving two interrelated revenue streams – Benefits Solutions and Technology Services. 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. SEB designs, customizes, builds and manages mission critical, end-to-end technology, people and infrastructure solutions using SEB’s proprietary technologies and expertise and partner technologies. SEB manages mission critical business processes for over 150 blue chip and government accounts, nationally and globally. Over 90% of SEB’s revenue and contracts are multi-year recurring revenue streams contracts related to government, insurance, healthcare, benefits and e-commerce. SEB’s solutions are supported nationally and globally by over 600 multi-certified technical professionals in a multi-lingual infrastructure, from multiple offices across Canada and globally.
SEB’s 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. SEB has more than 20 strategic partnerships/relationships with leading global and regional technology and consulting organizations.
For more information, please visit: www.seb-inc.com
This news release is intended for information purposes only. Statements made in this news release may contain "forward-looking" information about the company's future business prospects. These statements while expressed in good faith and believed to have a reasonable basis are subject to risk and uncertainties that could cause actual results to differ materially from those set forth or implied by such forward looking statements. Investors should consult a professional advisor before making any investment decision.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
Media and Investor Contact for SEB:
Product Inquiries for VUMI Canada:
Vice President of VUMI Canada
Office: 1-800-879-4236 x 1