USI Insurance Services (USI), an insurance brokerage company and consultant based in the US, has launched its private insurance exchange, as part of its strategy to help clients manage their employee benefits.
According to the company, it has developed a broad and deep set of technologies, which will enable employers control the costs of their benefits plans.
The private exchange offering will be integrated with USI’s solutions and will offer clients and the employees with an additional way to help them prepare budget for, evaluate and purchase their employee benefits
USIis introducing this new partnership in collaboration with Liazon, an operator of the Bright Choices Exchange – a leading private benefits exchange for businesses across the US.
The Bright Choices Exchange is easy to deploy and communicate to employees, and is available immediately.
Leveraging Bright Choices Exchange platform, USI’s clients can access an additional tool to save time and money on employee benefits while transitioning to a defined contribution funding strategy.
Meanwhile, the client’s employees can customize their benefits package and make smarter benefits selections that best fit their individual circumstances.
USI chairman, president and CEO Michael Sicard said, "USI is offering a private exchange option with plan designs and consumer-engagement tools."
"We will be integrating the Bright Choices Exchange with our extensive set of solutions to help consumers and the employers who help subsidize their choices better control costs as the Affordable Care Act plays out in the commercial market."
Liazon CEO and co-founder Ashok Subramanian commented, "Bright Choices helps businesses control costs while increasing employee satisfaction – a rare combination."
Set up in 1994 and headquartered in Briarcliff Manor, New York, USI is one of the largest insurance broker in the US, and manages nearly 100 offices in the country.