Marketplace name: First Niagara Benefits Exchange
Technology used to power platform: bswift
CEO or Practice Leader: Gary M. Crosby -President & CEO
Main Location / Headquarters: Buffalo, NY
Founded / Exchange Launched: April 2014
Website: Please click here.
Membership/number of lives currently on platform: TBD
Segment size preference (“target business size”): Available for employers with 100 or more employees
States of operation (if available): FNBC and bswift currently partner in the administration of private exchanges in Pennsylvania, New York, Connecticut and California.
Are employers required to use a defined contribution: No; can accommodate a wide range of contribution approaches
Decision Support: The First Niagara Benefits Exchange is fully equipped with powerful web-based decision support tools and a professionally staffed call center.
How does exchange get compensated:
Standard or Custom Product Configuration: As the employer, you determine the type of funding arrangement, then choose the appropriate carrier partner from First Niagara’s robust offering. After developing a contribution strategy that works for your company, First Niagara helps to select a family of products to offer employees.
Single-Carrier or Multi-carrier: Multi-carrier