Selerix Systems produces software (BenSelect) to facilitate communication, enrollment, and end-to-end benefits administration for both core and voluntary insurance products. This software is licensed to and used by carriers, brokers, and employers.
Selerix’s growth strategy is simple: Build market share by providing an outstanding product at an extremely competitive rate and cultivate distribution relationships in the carrier and broker channels.
BenSelect supports over 6.3 million employees and has been integrated with more than 117 carriers. It provides the flexible platform employers need for enrollment, employee communication, and delivery of information to all carriers and payroll providers via EDI. Our system has been used for groups in a wide variety of industries, including healthcare, education, transportation/logistics, state and local government, non-profit, high technology, waste management, and retailing.
Selerix is located in McKinney, Texas, part of the Dallas-Fort Worth metroplex.
Unlike many of our competitors, Selerix does not earn revenue or commissions on insurance products sold on the BenSelect system.
HISTORY
Selerix Systems was founded September 2002 by three veteran software developers who had worked together at SelectQuote, where they developed substantial expertise in the life insurance industry. Under their new company, Selerix, they would consult and develop large-scale solutions for worksite marketing and employee benefit enrollment.
Initially working in partnership with Eastbridge Technology (ETI), a long-time provider of laptop- based solutions for worksite marketing, Selerix developed BenSelect as a web-based adjunct to ETI’s WorksitePro software. Selerix’s first client, a 5,000-life healthcare network in the Southwest, went live on the BenSelect system in May 2003. BenSelect has been used continuously since 2003 to enroll both large and small groups.
Significant milestones for Selerix include licensing of the system by Aflac in 2005, Allstate in 2007, and USAble Life, Colonial Life and American Fidelity in 2008. These companies use the system for large-scale employee benefit enrollment and marketing of their voluntary worksite products.
Selerix has experienced an average growth rate in revenue and earnings in excess of 60% for the past three years. We expect annual revenue growth to remain in excess of 50% for the next 3 to 5 years.
