Secova, Inc., identified as a ‘Leader’ in Benefits Administration by NEAT (NelsonHall Evaluation & Assessment Tool)
NEWPORT BEACH, CA – (Wednesday, July 9, 2014) Secova, today announced that it was named a Leader by NelsonHall in both Health & Welfare Administration and Cost Reduction in its most recent NEAT assessment of the Benefits Administration market. The NEAT tool is part of NelsonHall’s Speed-to-Source initiative which helps buy-side organizations assess vendors against their ability to deliver immediate benefit and meet future client requirements.
Secova’s ranking as a Leader in Cost Reduction appeals to both the first generation and second generation benefits administration buyers.
According to NelsonHall the top three drivers for the first generation benefits administration buyers are:
· Complying with legislation
· Reducing operating costs, and
· Transferring or minimizing risks.
“Best-shore services along with innovative product offerings such as Coordination of Benefits Audits ensure that their (Secova) customers achieve cost reduction in the immediate context,” according to Amy L. Gurchensky, lead Benefits Administration analyst with NelsonHall. “We have at least one client who saved over $12 Million in the first year following our Coordination of Benefits Audit,” added Brian Perrine, Vice President, Sales, at Secova.
Secova’s ranking as a Leader in Health & Welfare also appeals to second generation buyers. According to NelsonHall, second generation buyers change service providers due to:
· Competitive pricing
· Obtaining a wider suite of services (e.g. ongoing dependent verifications, etc.) and
· Poor support/low level of quality.
“Here again, Secova scored as a viable option for such buyers to move to, given their expertise in offering a wide array of services including Leave Management, Dependent Verification as well as their willingness to structure the offering in line with the client’s corporate objectives,” added Gurchensky. “With our 24 years of experience in this industry, we have the unique advantage of bringing the most industry-centric best practices to our clients,” according to Perrine. “Our number one goal is to make sure we are the right partner for our clients’ needs and not let pricing, terms and conditions get in the way or slow things down,” he went on to add.
Secova, a leading provider of customized benefits administration solutions, is based in Newport Beach, CA. With 200 employees in offices in California, New Jersey, and Chennai, India. An acronym for Service is Our Core Value, Secova provides solutions for the administration of employee benefits and human resources that includes enrollment technology, a 24/7 live-answer call center, eligibility management, billing management and other ancillary services, such as COBRA, FSA, LOA administration. Since its inception, Secova has worked with dozens of Fortune 500 companies, mid-size corporations, Union/multi-employer groups, and state/local governments. For more information on Secova, please visit www.secova.com.
NelsonHall is the leading global BPO and IT outsourcing research & analysis firm with analysts across the U.S., U.K. and Continental Europe. Founded in 1998, the company takes a global approach to analysis of vendors and outsourcing markets and is widely respected for the quality and depth of its research. NelsonHall also offers a suite of “speed-to-source” tools that assist buy-side executives in saving time and money, while enhancing the quality of their sourcing decisions in BPO and IT outsourcing evaluations (http://research.nelson-hall.com/NEAT/).
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- Contact Information
- Murali Krishnan Sundararaman
- Director, Sales & Marketing
- Secova, Inc.
- (1) 7143840642
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