SEB Partners With Quebec Based Gesticonnect to Digitize Benefits for Emerging Businesses in Quebec

MISSISSAUGA, Ontario, April 06, 2021 (GLOBE NEWSWIRE) -- SEB Administrative Services Inc. (“SEB Admin”), a subsidiary of Smart Employee Benefits Inc. (“SEB”, TSXV:SEB), is pleased to announce it has signed a “White Label TPA” joint venture (“JV”) agreement with Gesticonnect, a leading Third-Party Administrator (“TPA”) operating in Quebec focused on emerging market companies. The JV brings a strong partnership to SEB and expands our “White Label TPA” offering in the Quebec market. Pursuant to the JV, SEB will deploy and support our FlexPlus suite of benefit processing solutions and services to Gesticonnect clients.

The FlexPlus Value Proposition
SEB’s FlexPlus suite of products and services are leading edge and proven in the enterprise market. The same leading-edge functionality, available to some of Canada’s most sophisticated clients, will now be made available to emerging market clients. Many of our FlexPlus modules provide unique functionality not typically available in other administration solutions. This new level of digitization will provide Gesticonnect clients with new digital tools and features, including quotes, billings, manage broker commission, client management, analytics, security and voluntary insurance products. This will allow Gesticonnect to enhance their services and solutions to their clients. Brokers will enjoy new revenue models. Plan Sponsors and Plan Members will have an enhanced user experience, better analytics and more flexible benefit plan designs.

The FlexPlus TPA environment is fully supported and managed from a multi-lingual ecosystem in Montreal which also services a national client base across Canada. The Quebec market represents a significant share of SEB’s global business and this transaction allows SEB to both increase our commitment in Quebec and grow our local service delivery infrastructure in Quebec to service emerging clients in Quebec and across Canada.

States Tim Beaulieu, CFO of Smart Employee Benefits Inc., “SEB has a large presence in Quebec with multiple enterprise clients, both government and corporate. We currently provide benefit processing and IT solutions and services to more than 30 enterprise clients, representing over 120,000 employees and over $250M of premium. This JV with Gesticonnect expands SEB’s footprint in Quebec’s emerging market and allows us to increase our investment in our Quebec infrastructure. Our Quebec infrastructure is a critical component of our ecosystem supporting our national and global client base.”