Last week we announced our partnership with GetInsured. Through this partnership, we will be adding GetInsured’s award-winning individual health exchange solution to our Array Spectrum® health insurance e-commerce platform. This means we’ll be able to offer insurers one incredible private exchange for all commercial lines of business.
We’ve now got a partner with the provider of the best individual solution in the market. GetInsured gains a partner with an extensible private exchange platform and a strong presence in the insurer market. With over three million enrollments in 2014-2015, GetInsured is one of the clear leaders in providing a private individual marketplace. Their technology powers state-based exchanges in California, Idaho, New Mexico and Mississippi.
Our new solution combines the best-of-class technology from the two industry leaders. It addresses the pressing need for insurers to find innovative ways to keep existing group members and recruit new people to their plans/policies.
The individual market is growing and small groups are disaggregating. So, insurers who traditionally focused on their group line of business are now placing greater attention on their individual product offering and on cultivating member-for-life relationships. In the past year we have seen a lot of interest from insurers who want to make it easier for their members to go from group to individual and potentially back to group again. The lines between the individual and group plans are thus blurring, and most health plans with a commercial line of business want a private exchange that includes support for individual products. Insurers are under pressure to become more consumer-focused and to bring customers what they need and want. Being able to offer a seamless transition from group to individual helps meet this consumer imperative.
We are excited to be working with another innovative and creative company that is committed to helping consumers get the information they need to make good decisions about their healthcare. Together, we believe we have a unique opportunity to help consumers, employers and insurers make the experience of purchasing health insurance easy, and dare we say fun.
