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Deals & People December 3, 2008
PlanSource Acquires Instant Benefits Network
PlanSource said it will now be able to manage a broker’s entire book of business under one solution.
Reported by Ellie Behling
PlanSource, a Web-based HR and benefits administration company serving brokers and benefits professionals, acquired Instant Benefits Network (IBN), a provider of Web-based products and services for brokers in the small- and medium-sized business market, according to a press release.
This merger nearly doubles the company’s broker network, PlanSource said. The company expects the new partnership to round out a suite of services for brokers; IBN’s products focused on smaller groups will complement PlanSource’s products suited for medium-sized groups.
“Joining forces with PlanSource allows us to progress from simply collecting medically underwritten information on small groups to managing the entire benefits procurement and administrative process,’ said IBN CEO and Founder Steve Kutina, in the release.