Marketplace name: The Assurex Global Private Exchange
Technology used to power platform: In collaboration with a leading employee-benefits outsourcing partner, Businessolver
CEO or Practice Leader: Jim Hackbarth -CEO of Assurex Global
Main Location / Headquarters: Dublin, OH
Founded / Exchange Launched: Launched in the second quarter of 2013
Website: Please click here.
Membership/number of lives currently on platform: TBD
Segment size preference (“target business size”): Middle-market employers and small businesses with as few as 50 employees are the target market
States of operation (if available): National – available through Assurex and member firms.; So far 12 member firms in states including Pennsylvania, Indiana, Tennessee and Florida have gone live with the Assurex exchange. Assurex is offering the technology to the 50 U.S. brokerages among some 75 members.
Are employers required to use a defined contribution: Ability to choose either a defined contribution or a defined benefits plan
Carriers Offered: Will integrate the leading health plans in regions requested by participating Assurex brokers, including BlueCross/BlueShield organizations and United Healthcare; the structure and participation of carriers will vary somewhat by region to meet the needs of its members in an area
Decision Support: The company’s website advocates that their exchange provides decision support and educational tools for employees to understand the various benefit choices and costs.
How does exchange get compensated: TBD
Standard or Custom Product Configuration: Standardized packages of medical and voluntary benefits are underwritten by participating companies.
Do They Utilize Additional Technology Company Solutions:
Single-carrier or Multi-carrier: Multi-carrier