Marketplace name: The Willis Advantage
Technology used to power platform: Liazon’s Bright Choices platform
CEO or Practice Leader: Rob Harkins – Private Exchange Leader
Main Location / Headquarters: NY, NY
Founded / Exchange Launched: May 2013
Website: Please click here
Membership/number of lives currently on platform: Willis has not disclosed its number of exchange enrollments but has mentioned 30-40 clients are inquiring in their private exchange for the 2014 and 2015 years.
Segment size preference (“target business size”): Willis Advantage is designed primarily to meet the needs of middle-market employers that have been under-served by competing private exchanges. However, in July 2015, Towers Watson and Wilis has combined. Combining Towers Watson’s large clients in OneExchange with Willis’ midsize clients in the Willis Advantage presents a larger segment size preference.
States of operation (if available): National
Are employers required to use a defined contribution: Yes. The Willis Advantage exchange platform gives employers greater cost control and predictability through a defined contribution – or fixed budget – approach to benefits.
Carriers Offered: National and regional carriers
Decision Support: The Willis Advantage platform analyzes employees’ healthcare preferences, utilization, financial position and risk tolerance, and recommends a customized benefits solution. The platform includes educational tools to help employees understand their options
How does exchange get compensated:
Standard or Custom Product Configuration:
Do They Utilize Additional Technology Company Solutions: Yes
Single-carrier or Multi-carrier: Multi-carrier; Employers then select a single coverage provider from the group of contracted insurers