OnlineBenefits

Founded in 1997 by Alan Cohen and John Gedney, OnlineBenefits, Inc. established itself as a provider of web-based employee benefits administration and communication services. The firm targeted small to mid-sized employers, offering a suite of human resource management solutions designed to streamline benefits processes. Its core business involved providing a platform that acted as a communications portal between insurance brokers, employers, and their employees. Revenue was likely generated through fees for its platform and services.

The company's flagship product was the Benergy System, a platform that facilitated online benefits management for employers and employees through a network of insurance brokers. By 2006, the Benergy System was reportedly used by over 5,000 employers and one million employees via more than 550 insurance brokers. OnlineBenefits also offered AgencyWare, a solution for client management and broker advisory services. In a strategic move to expand its offerings, the company acquired the assets of eBenefits, Inc. in 2003, including the VirtualHR human resources management system. This acquisition allowed OnlineBenefits to integrate HR functions like employee recordkeeping, performance management, and time-off tracking into its product line, specifically targeting companies with fewer than 500 employees.

Alan Cohen, a co-founder who also served as CEO, went on to establish other companies in the benefits space, including Liazon and Centivo, after his tenure at OnlineBenefits. John Gedney, the other founder, served as the company's President. The company's journey culminated in its acquisition by A.D.A.M. on August 14, 2006, for an amount reported between $32.5 million and $33.7 million. Prior to the acquisition, OnlineBenefits had formed a strategic partnership with A.D.A.M. in early 2005 to integrate health and wellness products into the next generation of its Benergy System.

Keywords: benefits administration, HR management solutions, employee benefits platform, Benergy System, AgencyWare, small business HR, mid-sized employer benefits, insurance broker portal, online enrollment, VirtualHR, benefits communication, HRMS, Alan Cohen, John Gedney, employee self-service, outsourced HR, benefits management software, A.D.A.M. acquisition, Liazon founder, Centivo founder