Benefitfocus Sponsors ACORD Connect 2018, CEO Ray August to Speak on Panel

Benefitfocus to offer perspective on the role of data standardization and consumerization

Charleston, S.C. – October 10, 2018 – Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, is pleased to announce its platinum sponsorship of ACORD Connect 2018, taking place October 10-11 in New Orleans. Additionally, the company’s CEO, Ray August, will be featured on a panel of industry leaders to provide insights on ACORD’s recent study of the global insurance marketplace.

ACORD, the global standards-setting body for the insurance industry, will bring together industry professionals for two days of learning and collaboration at ACORD Connect 2018. Participants will have the opportunity to explore important strategic issues facing the industry, enhance their expertise with ACORD Standards & Architecture, and earn valuable continuing education credits through professional development sessions. The program will provide ample opportunity to network with thought leaders and key influencers from both operational and technology roles throughout the global insurance industry.

With defined data integration standards for each platform product, the Benefitfocus platform is transforming the benefits industry by unifying and connecting everyone in the value chain – insurance carriers, suppliers, brokers and employers – to engage and empower consumers to select the best benefits for their health, wealth and lifestyle. Working with ACORD has been a natural fit, as both are dedicated to improving data quality and standards in the insurance industry. Last year, Benefitfocus contributed its enrollment XML asset and specifications to ACORD, providing an industry-first standard file format for life and ancillary insurance carriers.

"World-class data is critically important in guiding consumers toward better benefits choices, streamlining processes and lowering costs,” said August. “Given the rise of voluntary benefits and the growing complexity that adds for consumers and administrators alike, we’re particularly excited to be participating in and sponsoring ACORD Connect 2018 alongside driving data excellence in the global insurance industry.”

“We operate in an industry of high complexity that demands the need for data standardization,” said August. “We’re excited to be participating in and sponsoring ACORD Connect 2018 as it gives us the opportunity to learn from and collaborate with insurance professionals from around the globe to help drive the industry forward.”

About Benefitfocus

Benefitfocus (NASDAQ: BNFT) provides technology and services that improve the way employers of all sizes manage their benefits investment. Through a combination of powerful cloud-based software, data-driven insights and thoughtfully- designed services, we provide employers, their brokers and insurance carriers with a single partner to deliver a world-class benefits experience. Learn more at, LinkedIn and Twitter.

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results 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; the success of our strategic relationships with third parties; management of growth; fluctuations in our financial results; general economic risks; reliance on key personnel; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; changes in government regulations; 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 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.

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