Prescription drug software, service and analytics provider Truveris has introduced a new pharmacy stop loss insurance platform, in a bid to protect employers from increasing benefit costs.

The new automated quote engine is available only through the online pharmacy benefit marketplace, RxChoice, which will allow benefits brokers and advisors to help firms easily take advantage of stop loss insurance.

Truveris chief innovation officer AJ Loiacono said: "With prescription drug prices far outpacing overall inflation, employers of all sizes are seeking to stabilize runaway benefit costs.

"Our platform, designed specifically for brokers and advisors, provides unprecedented access to comprehensive stop loss insurance rates, delivering financial security and much-needed control over prescription benefits spending."

Truveris stop loss insurance platform provides quotes for Rx stop loss insurance along with or separate from quotes for pharmacy benefit manager (PBM) services.

According to the company, the platform will also help payers to begin stop loss coverage at different times across the year instead of just within the traditional benefit cycle window.