Benefit-management software provider Benefitfocus has announced the launch of a product it believes will connect the entire US employee benefits industry.

The product, BenefitsPlace, connects employers, carriers and suppliers on a single platform and offers consumers a wide range of benefits products, the company said.

“For nearly two decades, Benefitfocus has been investing in technology to simplify complex benefits administration for insurance carriers and employers of all sizes,” said Ray August, Benefitfocus president and CEO. “We are now leveraging this experience and investing heavily in our broker relationships to create a truly unified platform across the entire benefits industry.”

According to the company, BenefitsPlace will add value for consumers and stakeholders in a number of different ways:

• Insurance carriers and specialty product suppliers will have a dedicated product distribution channel through brokers and employers to more than 20 million consumers.
• Brokers can access a portfolio of preferred products
• Employers receive a total benefits offering with health, medical, voluntary life, financial and specialty products