Employee Navigator, a market leading benefits and HR software solution, has formed a strategic investor consortium comprised of six industry partners, including Paylocity and Aflac, to support the modernization of benefits administration for brokers, employers, and the broader ecosystem. The minority investment will support Employee Navigator’s continued growth as the leading benefits administration system for insurance brokers.
“Our focus of being an agnostic marketplace remains unchanged and the stability of our ownership structure provides a higher level of comfort to brokers and carriers alike as they go “all in” with their long-term commitments to Employee Navigator. We will continue to invest heavily in expanding the number of integrated partners available to our customers. The consortium’s initial focus will be on API architecture and standardization across the full spectrum of employee benefits to support scalable communication with insurance carriers, payroll companies and TPAs,” said Employee Navigator Founder and CEO, George Reese.
“This investment brings together leaders in the insurance and HR industries to develop highly scalable technology solutions and modern integrations that HR managers and insurance brokers need to digitize their businesses,” said George Reese. “Employers are demanding an easier way to manage the complexities of employee benefits and HR, and our industry partners clearly see Employee Navigator as a proven platform with the scalability and vision to support the digitization of the employee benefits market. Our goal has always been to allow brokers to advise their customers on the products and services that best suit their needs. Brokers that work with Employee Navigator can spend more time advising their customers while we focus on the infrastructure that makes it all work,” said George Reese.
The consortium arrives on the heels of an exciting year for Employee Navigator. The business recently surpassed 70,000 companies on the platform, supporting 13 million members and over 250 integrated partners, including leading insurance carriers, payroll providers and TPAs. The consortium will help Employee Navigator further scale its digital marketplace, which currently supports over $35 billion in annual premium.
“We have an ambitious set of objectives for the business over the next several years, including growing our marketplace of integrated partners, rapidly expanding our product suite to better serve our customers, and working with our industry partners to develop highly scalable technical solutions to help modernize the insurance and HR industries. The last two years made it very clear that what we’re building is very relevant,” said George Reese.
Employee Navigator plans to add new industry partners to the investor consortium in later 2023.
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