BenefitVault Co-Founder Eric Raymond Stepping Down as Chairman and CEO; Cary W. Toner CLU, ChFC Named as Replacement
Philadelphia, PA, October 09, 2014 --(PR.com)-- Today, BenefitVault Holdings, Inc. a privately-held insurance premium processing company, announced that its Chairman and CEO, Eric Raymond, is moving on to pursue other opportunities and has named Cary Toner CLU, ChFC as succeeding Chairman and CEO. Mr. Raymond, along with BenefitVault President Joshua Spivak co-founded BenefitVault in 2013.
“Eric was instrumental in the launch of our company and in positioning us for future success, especially valued was Eric’s vision and expertise in the rapidly-evolving medical insurance marketplace,” said Mr. Spivak.
Mr. Raymond said at the time of his departure, “From a dream two years ago of changing the way individuals buy insurance and other services at work, BenefitVault built a great user-friendly platform for all stakeholders to reduce the friction and increase reliability of payments. It is now at a new stage of explosive growth, and I’m proud of the work we have accomplished. Cary is a longtime friend and has built several great companies. I am looking forward to assisting the company as I am off finding new businesses ventures to grow.”
Mr. Toner added, “Eric will remain a valued friend to the company as well as an important shareholder. Without Eric’s contributions, BenefitVault would not be where it is today.”
About Cary W. Toner CLU, ChFC:
Cary has been a pioneer in the insurance industry since 1980 as both a distributor and a technology innovator. Cary formed The Toner Organization in 1986 and drove it to become the largest independent brokerage organization in the country until its sale to Bisys in 2001 (now Crump Life Insurance Services). The Toner Organization served 5,000 brokers in all 50 states and represented 65 insurance companies. Annual sales exceeded $45 Million and Cary served as CTO and COO of Bisys through 2002. Cary developed the industry’s first online quoting, application and case status platform which was later spun off to become iPipeline. iPipeline is now an industry standard and currently serves 150 carriers, 1,200 distributors and 400,000 brokers worldwide with six offices in the U.S., London, Tokyo and Vancouver. Cary chaired iPipeline until 2008.
Cary is also a founding member of NAILBA, a founding partner of The Marketing Alliance, a former board member of Philadelphia Association of Life Underwriters and has served on many insurance carrier advisory boards. He remains active in many charities and currently serves on the Board of Trustees of Einstein Healthcare Network, past chair of Notre Dame Academy and the Board of Applebrook Golf Club.
About BenefitVault:
BenefitVault Inc. is a Philadelphia-based technology company offering an innovative payment solution for the insurance industry. The Affordable Healthcare Act (ACA) has brought disruption to the industry by pushing an ever-growing number of individuals out of group insurance plans; plans that have historically been offered and administered through their employer. Employees are becoming direct consumers that must sign up and pay for their own insurance. New types of insurance stores, exchanges, and enrollment platforms have emerged to distribute all types of insurance products to consumers. BenefitVault’s payment service sits at the center of this ecosystem and brings exceptional value and convenience to all of the primary stakeholders.
For Media Inquiries Please Colntact:
Ms. Maria Juliano
BenefitVault Holdings, Inc.
1100 South Independence Mall East
Suite 1002
Philadelphia, PA 19106
(215) 391-4125
“Eric was instrumental in the launch of our company and in positioning us for future success, especially valued was Eric’s vision and expertise in the rapidly-evolving medical insurance marketplace,” said Mr. Spivak.
Mr. Raymond said at the time of his departure, “From a dream two years ago of changing the way individuals buy insurance and other services at work, BenefitVault built a great user-friendly platform for all stakeholders to reduce the friction and increase reliability of payments. It is now at a new stage of explosive growth, and I’m proud of the work we have accomplished. Cary is a longtime friend and has built several great companies. I am looking forward to assisting the company as I am off finding new businesses ventures to grow.”
Mr. Toner added, “Eric will remain a valued friend to the company as well as an important shareholder. Without Eric’s contributions, BenefitVault would not be where it is today.”
About Cary W. Toner CLU, ChFC:
Cary has been a pioneer in the insurance industry since 1980 as both a distributor and a technology innovator. Cary formed The Toner Organization in 1986 and drove it to become the largest independent brokerage organization in the country until its sale to Bisys in 2001 (now Crump Life Insurance Services). The Toner Organization served 5,000 brokers in all 50 states and represented 65 insurance companies. Annual sales exceeded $45 Million and Cary served as CTO and COO of Bisys through 2002. Cary developed the industry’s first online quoting, application and case status platform which was later spun off to become iPipeline. iPipeline is now an industry standard and currently serves 150 carriers, 1,200 distributors and 400,000 brokers worldwide with six offices in the U.S., London, Tokyo and Vancouver. Cary chaired iPipeline until 2008.
Cary is also a founding member of NAILBA, a founding partner of The Marketing Alliance, a former board member of Philadelphia Association of Life Underwriters and has served on many insurance carrier advisory boards. He remains active in many charities and currently serves on the Board of Trustees of Einstein Healthcare Network, past chair of Notre Dame Academy and the Board of Applebrook Golf Club.
About BenefitVault:
BenefitVault Inc. is a Philadelphia-based technology company offering an innovative payment solution for the insurance industry. The Affordable Healthcare Act (ACA) has brought disruption to the industry by pushing an ever-growing number of individuals out of group insurance plans; plans that have historically been offered and administered through their employer. Employees are becoming direct consumers that must sign up and pay for their own insurance. New types of insurance stores, exchanges, and enrollment platforms have emerged to distribute all types of insurance products to consumers. BenefitVault’s payment service sits at the center of this ecosystem and brings exceptional value and convenience to all of the primary stakeholders.
For Media Inquiries Please Colntact:
Ms. Maria Juliano
BenefitVault Holdings, Inc.
1100 South Independence Mall East
Suite 1002
Philadelphia, PA 19106
(215) 391-4125
Contact
BenefitVault
Maria Juliano
(215) 391-4125
www.benefitvault.net
Maria Juliano
(215) 391-4125
www.benefitvault.net
Contact
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