Taking a cue from Aon Hewitt, Mercer and other smaller consulting firms and brokerage houses throughout the U.S., Willis North America is the next company to create a private insurance exchange. The firm announced yesterday that The Willis Advantage, as the exchange will be called, will be available to “help organizations design and implement client-centric private exchange solutions that help to address the underlying cost of health care by focusing on and rewarding healthy behavior,” according to a statement.
“Recent data indicates between 5% - 20% of mid-market firms will move to private exchanges by 2017,” says Jim Blaney, CEO, Willis Human Capital Practice. “Additionally, firms have indicated they want objective consulting when evaluating private exchange options.”
A Willis spokeswoman confirmed that the exchange is live and accepting clients now. Blaney said in the statement that the group has been looking into this option since early 2012.
In other private exchange news, InsureXSolutions also announced yesterday that dental plans from Aetna, Assurant and Delta Dental have been added to their online marketplace.
Gillian Roberts is a reporter with Employee Benefit News, a SourceMedia publication.
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