Getting Service Right With a Private Exchange

If private exchange vendors offer the right level of consumer service, their platforms will create a revenue opportunity for carriers, brokers, and product partners in the coveted group market. But if they get it wrong, they’ll offer just another portal with a user ID and password, according to a report by Aite Group. Having an exchange platform does not negate the need for personal interaction to ensure the right plans are offered and employees are making the right decisions on tough, complicated issues. As employees face the daunting task of choosing their own benefits, vendors should consider a tiered support plan that allows employees to get help or go it alone. “Vendors must recognize the need to overstock the decision-support tool chest,” says Lindsey O’Connell, a research associate in Insurance at Aite Group. For more information, visit www.aitegroup.com.

Last Updated 06/23/2021

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