BROOKFIELD, Wis. Fiserv Inc. is expected to announce today that it has bought Benefit Planners Inc., a third-party provider of administrative services for employee benefit programs.
The price was not disclosed.
Fiserv is acquiring Benefit Planners, which is headquartered in Boerne, Tex., near San Antonio, to strengthen its insurance solutions group, which provides processing software and services to insurers in the life, annuity, health, and property and casualty areas.
Benefit Planners, which serves roughly 200 employers and has about 300,000 participants, is among the top 10 third-party administrators.
Its 500-odd benefits experts are to stay in their current locations under the same management teams.
Benefit Planners is another strategic piece in our plan to build a full-service technology and back-office solution for the insurance industry, said Leslie M. Muma, president and CEO of Fiserv.