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Benemax’s Global Insurance Pool Reduces Benefit Costs

Inovis banks 22 percent refund on employee benefit premiums
MEDFIELD, Mass., Jan. 13 2004—Robin Huss, worldwide senior director of human resources for software firm Inovis, was stunned when the reimbursement check came in the mail from Benemax, the company’s employee benefits firm. “When do you ever get money back from an insurance company?” marveled the 20-year HR veteran.

Atlanta-based Inovis received a 22 percent refund on health, life and disability income insurance premiums for its Singapore and UK offices.

Inovis’s good fortune is the result of participation in the global insurance pool available through Benemax and the Insurope Multinational Benefits Association, a major international pooling network. Their joint venture allows smaller multinational companies to lower employee benefit costs and qualify for dividends based on the profitability of the pool, determined at the end of each year.

“Even small businesses with just a single overseas office can now take advantage of global insurance pools to lower their employee benefit costs, with absolutely no downside risk,” said Benemax co-founder David Cowles.

When Cowles suggested that Inovis join the pool, Huss, who oversees HR for the developer of supply chain management software with 450 employees in Europe, Asia and the United States, was skeptical. But she followed Cowles’ advice.

“Benemax is very creative with benefit packages for smaller companies, including medical, dental, life and disability,” she added. “It’s hard to get attention and competitive rates if you’re a small company. Our experience with Benemax has been phenomenal. They actually care about small companies.”

The recommendation proved worthwhile when Inovis received a refund check. “It’s amazing. The human resources department is now a profit center,” said Huss.

About Inovis
Inovis™, Inc. (www.inovis.com) helps companies implement business commerce automation solutions that facilitate efficient trading with customers and suppliers. The company provides a complete line of software, managed services and professional services that enable companies to gain compliance with leading industry trading communities and standards.

About Benemax
Benemax, based in Medfield, Mass. (www.benemax.com), was founded in 1975 and manages employee benefits for 225 corporate clients ranging from start-ups to divisions of Fortune 500 companies. Benemax designs and administers attractive yet highly cost-effective employee benefit packages, including consumer-directed health and dental plans. The company has grown by an average of 30 percent annually for the past four years.







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