Boston, October 30, 2014 – Individual-direct purchasing is blossoming in the United States as the Affordable Care Act adds 30 million previously uninsured individuals, 75 million baby boomers, and 25 million part-time workers to the pool of individual prospects. Individuals buying insurance from third parties is an established practice, but vendors now own an opportunity to deepen consumer relationships and earn a lifetime of customer revenue with value-added services and greater product availability. But what are the hallmarks of a successful individual private exchange, and how can vendors address the needs of this booming market?
This Aite Group Impact Report, based on 2014 product demonstrations and executive interviews with six companies that have built proprietary technology for the U.S. individual health insurance market, describes the current state and future needs of individual private exchange functionality, profiles six private exchange vendor participants (Array Health, CieloStar, Connecture, eHealthInsurance, Getinsured.com, and HealthPlanOne), and ranks these vendors across functionality.
This 38-page Impact Report contains 12 figures and eight tables. Clients of Aite Group's Health Insurance service can download this report.