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Benefitfocus Expands Property Product Suite in BenefitsPlace with Renters Insurance

Toggle(SM), a Farmers® Company, provides customizable protection for renters

CHARLESTON, S.C., Oct. 24, 2019 /PRNewswire/ -- Benefitfocus, Inc. (BNFT), a leading cloud-based benefits management platform and services provider, today announced that ToggleSM, a Farmers® Company, is now available as part of the Benefitfocus BenefitsPlace® offering. Toggle, a renters insurance subscription provider, is uniquely designed so renters can tailor their coverage selection to meet their individual needs and budgets.

Benefitfocus logo (PRNewsFoto/Benefitfocus, Inc.) (PRNewsfoto/Benefitfocus, Inc.)

BenefitsPlace allows employers, brokers and medical insurance carriers to offer industry-leading specialty benefits products from more than 45 leading brands. The product catalog also gives consumers easy access to all categories of voluntary benefits together in one place.

"Toggle's customizable, affordable product removes barriers to purchasing this in-demand coverage," said Ray August, President & CEO, Benefitfocus. "We're proud to include reputable suppliers, like Toggle, in the BenefitsPlace suite, which allows employers and their brokers to offer workforces access to these highly sought-after products year-round."

Toggle's digital difference
"Toggle redesigned renters insurance to create a modern digital subscription that's both user-friendly and affordable. We created unique, customizable coverage options so consumers can create the plan that's best for them," said Stephanie Lloyd, head of Toggle. "We are hyper-focused on aligning with companies that share our vision of providing modern solutions to the modern person, so Benefitfocus was a natural choice."  But, recent customers probably say it best:

"Good price. I love how I can customize my plan to truly cater to my life." – Akin, Colorado customer

"This was so easy to use and I was very surprised that my coverage was so customizable and very affordable." – Ashley, Illinois customer

Toggle's value to Benefitfocus customers
More households are renting in the U.S. than at any time since the mid-1960s, but only 46 percent of them have renters insurance. Toggle has redesigned renters insurance to make it easier than ever to purchase this important protection. They provide customizable plans that suit different lifestyles and budgets. Renters can select from three subscription levels, priced as low as $5 per month. They are then able to customize their policy by toggling different coverage elements up, down, on or off, with optional add-on features, including:

  • Credit LiftSM powered by RentTrack®, which reports on-time rent payments to all three major credit bureaus to help build a renter's credit score. On average, users see their credit scores increase by 29 points after just two months.
  • Pet ParentSM offers protection for injuries caused by a renter's pet to another person, boarding costs if a covered loss makes their residence unfit to live in and damage caused by their pet.
  • Side Hustle® covers items customers use to make extra income, like sound equipment for a DJ. This option also covers personal injury for social influencers and lost wages due to a covered loss.
  • Technology Coverage protects personal technology devices in the event of damage or loss

All Toggle coverages include Always-On Portability, allowing renters' belongings to be covered at home, on the road, during a move or anywhere they travel in the world.

Find out more about how Toggle's customizable plans help renters protect their property.

Connect with Benefitfocus
To find out more about the full range of health, wealth, property and lifestyle benefits offered by Benefitfocus, go to https://www.benefitfocus.com/solutions/benefitsplace and review the full products catalog.

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About Benefitfocus
Benefitfocus (BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers' health, wealth, property and lifestyle. Our powerful cloud-based software, data-driven insights and thoughtfully designed services, enable employers, insurance brokers, carriers and suppliers to simplify the complexity of benefits administration and deliver a world-class benefits experience. Learn more at www.benefitfocus.com.

About ToggleSM
Toggle is a brand name of Farmers® Insurance and is underwritten by 21st Century Assurance Company or 21st Century Premier Insurance Company, members of the Farmers Insurance Group of Companies®.  Policy issuance is subject to underwriting review and approval. Whether a specific loss is covered depends on the coverage purchased and the specific facts, policy exclusions and conditions, and the limits of insurance purchased.

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results or performance might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to maintain our culture and recruit and retain qualified personnel; the need to innovate and provide useful products and services; success of our strategic relationships with third parties, including brokers; our ability to compete effectively; management of growth; the immature and volatile nature of the market for our products and services; risks related to changing healthcare and other applicable regulations; privacy; security and other risks associated with our business; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec-filings or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law. 

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