Private exchanges provide consumers with a retail marketplace where they can research, compare and select insurance products. Private exchanges can increase cost transparency, offer highly flexible plan options and make an increasingly complicated process slightly less daunting for both existing and new insurance consumers.
An important initial step in mapping out a private exchange strategy is to understand the wide range of options and functions available for a marketplace offering. Part II of this series outlines Optimity Advisors’ approach for implementing a private exchange, highlights key features of a private exchange, and provides techniques for evaluating and prioritizing those features.
Part II – Transform: Identifies key features of a market-leading private exchange, provides considerations for prioritizing features, and outlines best practices for deploying a private exchange via multiple phases.
- Private exchange implementation approach
- Identifying features of your exchange
- Factors that influence exchange features
- Prioritizing organization-specific features
