Fiserv Insurance Offerings has acquired Benefit Planners, a third-party provider of administrative services for employee benefit programs. Terms of the agreement were not disclosed. Benefit Planners will continue operations under the same management team, operating philosophy and corporate culture as before the acquisition.
The company’s headquarters will remain in Boerne, Texas, near San Antonio. Benefit Planners will join Fiserv’s insurance solutions group as a part of Fiserv’s continuing efforts to broaden its insurance operation. The acquisition, according to Fiserv, is similar to the October acquisition of Montana-based National Flood Services, a third-party administrator for companies participating in the National Flood Insurance Program.
That company offers back-office services to insurance firms and their agents. Benefit Planners was formed in 1982 to provide claims and administrative services to self-funded employer health plans. Ranked as one of the top 10 third-party administrators in the United States, the company services more than 200 self-insured employer groups representing over 300,000 participants throughout the United States, Latin America, Europe and the Middle East.
Benefit Planners currently has more than 500 employee benefit experts on its staff. Fiserv provides insurance processing solutions for the nation’s leading insurance companies and financial institutions. Insurance solutions available through Fiserv include administrative software, system services and processing solutions for life, annuity and health insurance companies; software and related services for the property and casualty insurance industry; policy administration systems, and life and health claims administration support; computerized training programs for insurance and securities professionals; and workers compensation administration systems.
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