SAN FRANCISCO--(BUSINESS WIRE)--

There is a new identity fraud victim every two seconds,¹ and credit monitoring alone doesn’t protect consumers or resolve the issue. To address this issue, LifeLock, Inc. (NYSE:LOCK), and Maxwell Health today announced a strategic partnership, introducing the LifeLock’s leading identity theft protection, resolution services and patented technologies to Maxwell’s Marketplace. This partnership enables businesses across the country to offer LifeLock’s best-in-class solution within their employee benefits strategies.

Since its founding in 2005, LifeLock has been a pioneer in identity protection, leveraging unique data, science and patented technology and providing identity threat detection, proactive identity alerts, and comprehensive remediation services. With more than 4.4 million LifeLock members and an annual retention rate of over 85.6%,² the company is committed to providing peace of mind amid the threat of identity theft.

For employers, recognizing this emerging threat is essential to meeting the needs of the modern workplace. According to Willis Towers Watson, nearly 70% of employers are projected to offer identity theft protection as a voluntary benefit by 2018. Employers increasingly value the importance of an employee financial wellness program, and providing identity theft protection is a key component of a well-rounded program. One key feature of this benefit is that it can be added at any time throughout the year, not just during the open enrollment season.

“LifeLock is a founding member of the identity theft protection industry, with a strong brand and a great track record,” said Mike Zarrillo, vice president of strategic partnerships and marketplace at Maxwell Health. “Its vision to provide peace of mind through technology to American families is completely aligned with ours, and we’re very excited to welcome the company to the Maxwell Marketplace.”

Maxwell Health simplifies benefits and human resources for small-to-mid-sized employers. The platform includes a marketplace that makes buying benefits intuitive for employees, tools that automate benefits and human resources, and a mobile app that makes using benefits easy.

“Identity protection is an important personal risk management solution, and we’re delighted to partner with Maxwell Health to offer a flexible benefit for employees, either as a benefit funded by employers or a voluntary benefit,” said Terry Reams, general manager of employee benefit protection solutions at LifeLock.

Companies working with benefits advisors, insurance carriers, and retirement companies that license the technology get a customized benefits storefront where their employees can enroll in all their benefits, including medical, dental, vision, life, short- and long-term disability, and financial benefits such as HRA/HSA/FSA, socially responsible loans, and 401(k) optimization services. LifeLock is the latest to join these ranks. Maxwell’s comprehensive human resources and benefits administration system supports complex benefit strategies and integrates with leading payroll solutions for streamlined human resources processes.

About LifeLock, Inc.

LifeLock, Inc. (NYSE:LOCK) is a leading provider of proactive identity theft protection services for consumers and fraud and risk management solutions for enterprises. LifeLock’s threat detection, proactive identity alerts, and comprehensive remediation services help provide peace of mind for consumers amid the growing threat of identity theft. Leveraging unique data, science and patented technology from ID Analytics, Inc., a wholly-owned subsidiary, LifeLock offers identity theft protection that goes beyond credit monitoring. As part of its commitment to help fight identity theft, LifeLock works to train law enforcement and partners with a variety of nonprofit organizations to help consumers establish positive habits to combat this threat.

About Maxwell Health

Maxwell Health simplifies benefits and HR for small-to-mid-sized employers. The platform includes a marketplace that makes buying benefits intuitive for employees, tools that streamline HR processes including benefits administration and payroll, and a mobile app that makes using benefits easy. Our purpose is to help American families achieve health and financial well-being by modernizing how employees experience insurance, financial, and wellness benefits. The platform is provided by benefits advisors as well as insurance and retirement companies that license our technology. To learn more about Maxwell Health, please visit www.maxwellhealth.com.

¹ 2016 Identity Fraud Study, Javelin Strategy & Research, February 2016.

² Retention rate as of June 30, 2016.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160914005399/en/