Ceridian And U.S.I. Announce Alliance
NU Online News Service, Jan. 9, 1:07 p.m. EST?Third party administrator, Ceridian Corp. of Minneapolis, Minn., and San Francisco-based broker, U.S.I. Holdings Corp., announced a strategic alliance today.
As part of the agreement, Ceridian made a $15 million equity investment in USI, and USI appointed Tony Holcombe, president of Ceridian Employee/Employer Services, to the USI board of directors, the companies said.
Ceridian and USI said they are examining other opportunities to leverage their relationship. The companies said their alliance would provide the marketplace with a comprehensive set of outsourced business solutions.
The relationship includes a five-year marketing agreement to cross-refer products and services to current and prospective customers.
Mr. Holcombe said Ceridian currently offers a portfolio of human resources, payroll, tax, benefits and workplace effectiveness services.
"Our relationship with USI allows the expansion of offerings to our customers to include a comprehensive range of insurance and financial services," he said.
Bernard H. Mizel, chairman and chief executive officer, USI said his company, like Ceridian, is pursuing a goal of being a single-source business solutions provider and focusing on building advisor relationships with clients.
"We are committed to working together to deliver integrated product offerings and provide simplification and efficiencies to our customers," he said.
Ceridian and USI said a national sales rollout of their marketing and referral process is planned for the first quarter.
Ceridian services available in the initial introduction are integrated human resources and payroll, payroll, tax filing, check printing, and W-2 printing. USI services include insurance and related financial service offerings including employer paid health insurance, property, casualty and workers' compensation insurance.
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