Benefitfocus Joins the MIT Initiative on the Digital Economy

Collaborators strive to unlock insights on innovation and drive business forward
 

CHARLESTON, S.C., August 30, 2018 -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, has entered into a corporate membership with the MIT Initiative on the Digital Economy (MIT IDE). Part of the MIT Sloan School of Management, the MIT IDE explores how people and businesses work, interact and prosper in an era of profound digital transformation.

The goal of the corporate membership is to build a long-term relationship, focusing on the issues and opportunities around the digital economy. The MIT IDE relationship further accelerates Benefitfocus’ insights and commitment to innovation, which is a key component to the company’s platform business strategy.

“Benefitfocus is accelerating our digital transformation and we are making significant investments to advance our platform,” said Benefitfocus Chief Technology Officer and MIT alum, Jim Restivo. “We continue to execute on our strategy and tackle innovation from all angles of our business. We’re thrilled with the opportunity for exponential learning and growth alongside technology leaders including Accenture, Amazon and Microsoft, among others.” 

Working with public and private sector partners, the MIT IDE conducts groundbreaking research in the areas of productivity, employment, and inequality; big data and human AI; new digital business models; and social analytics and digital experimentation. The MIT IDE sponsors fellows; hosts the global MIT Inclusive Innovation Challenge, conferences, and roundtables; and supports other events that bring thought leaders together to inspire new ideas. The MIT IDE believes that challenges posed by the digital economy are not only solvable, but that technology will create new opportunities for people and businesses to thrive.

“One of the major advantages of our collaboration with MIT IDE is advancing our organizational learning through an external, business and consumer viewpoint,” said Benefitfocus President & CEO, Ray August. “This ‘outside-in’ perspective helps us optimize our technology to deliver a better consumer experience and allows us to strengthen our business relationships. Ultimately, each participant on the Benefitfocus platform will feel the true benefits of our MIT IDE relationship.”

David Verrill, MIT IDE’s Executive Director, adds: “We are proud to announce that Benefitfocus has joined our community as the newest member of the IDE. Through this membership, Benefitfocus and MIT IDE will collaborate to explore challenges and opportunities and drive the conversation on the digital economy.”

About Benefitfocus
Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers’ health, wealth and lifestyle. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services, enable employers, insurance brokers and carriers to simplify the complexity of benefits administration and deliver a world-class benefits experience. The Benefitfocus Platform is industry leading in reliability and peak response rate. Learn more at www.benefitfocus.comLinkedIn and Twitter.

 

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results or performance might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; the immature and volatile nature of the market for our products and services and other factors that could impact our anticipated growth our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; reliance on key personnel; management of growth; changes in government regulations; fluctuations in our financial results; general economic risks; privacy, security and other risks associated with our business; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec-filings or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

 

About the MIT Initiative on the Digital Economy

The MIT IDE, which is based in the Massachusetts Institute of Technology (MIT) Sloan School of Management, addresses the impact of digital technologies on business, the economy, and society. Drawing upon MIT Sloan's strengths in technology and innovation and its internationally recognized faculty, the Initiative analyzes the broad sociological changes brought about by digital technology. Working with public and private sector partners, the MIT IDE conducts groundbreaking research in the areas of productivity, employment, and inequality; big data and human AI; new digital business models; and social analytics and digital experimentation. The MIT IDE sponsors fellows; hosts the global MIT Inclusive Innovation Challenge, conferences, and roundtables; and supports other events that bring thought leaders together to inspire new ideas. The MIT IDE believes that challenges posed by the digital economy are not only solvable, but that technology will create new opportunities for people and businesses to thrive. These activities are more fully described at ide.mit.edu.

 
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