SEB >$22M New Contract Wins Increase Wins Over 15 Months to >$205M

Mar 11, 2022

MISSISSAUGA, Ontario, March 11, 2022 (GLOBE NEWSWIRE) -- Smart Employee Benefits Inc., (“SEB” or the Company) (TSXV: SEB, OTCQB: SEBFF), has received extensions and net new business contracts valued at greater than $22.2M. This brings contract wins and extensions to over $205.0M over the past 15 months. SEB’s RFP sales pipeline includes tens of millions of dollars of contract value where decisions are pending over the next several months. In addition, SEB’s “White-Label TPA” sales pipeline includes billions of dollars of premiums, of which approximately $2.0B is in advanced stages of negotiations. Currently, SEB has over 530,000 plan members under contract, representing approximately $1.3B of premium. Approximately 370,000 plan members are fully deployed to SEB’s benefit processing TPA platform with over 160,000 in transition. SEB solutions can capture over 90% of the fees spent to manage a plan member, which typically are in the range of 7% to 10% of premiums.

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