Benefits tech firm Namely on Monday announced it is a launching a private benefits exchange for mid-market companies (50-1,000 employees) in cooperation with insurer Cigna.

The Namely Exchange will launch with 12 health insurance plans from Cigna, from which HR administrators will select up to five plan options to offer their employees. “For now, it’s just going to be offering Cigna products,” says Rob LaHayne, vice president, benefits at Namely. “Our eventual goal is to potentially introduce other carriers, but for now we’re starting with Cigna.” The exchange is being built on technology built by Namely.

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