To address the potentially high costs associated with selling to and servicing individuals rather than groups, plans should invest in lower-cost distribution channels like online sales portals and outsourced call centers.
Orlando, FL (Vocus) October 16, 2007
Connextions Inc., a business process integration firm, announced today that Forrester Research - a leading independent research provider - has recognized the company's role in helping health insurance plans to increase their participation in the lucrative market for individual health coverage.
In his October 5 research report entitled, "The $115 Billion Individual Health Insurance Opportunity," Forrester senior analyst Carlton A. Doty identifies the growing market for individual health insurance, "driven by the gradual erosion of employer-sponsored coverage, the rising population of uninsured, and a government that continues its efforts to expand coverage to all citizens." The report adds, "to grab a piece of this $115 billion market, health plan eBusiness, channel, and product management professionals need to continue performing in the B2B space while transforming to support a new B2C model."
Mr. Doty writes in the report, "the time has come for insurers of all sizes -- not just the jumbo carriers -- to embrace a B2C business model." His report says, "To address the potentially high costs associated with selling to and servicing individuals rather than groups, plans should invest in lower-cost distribution channels like online sales portals and outsourced call centers."
Forrester Spotlights Connextions / Add One
The Forrester report also states: "Vendors like Connextions Health offer mutlichannel solutions through a combination of technology and front-office business process outsourcing to insurers like Blue Cross and Blue Shield of Florida."
In fact, Connextions' first-hand experience with insurers has demonstrated that consumer-direct methods - employing telephone and web-based technologies combined with licensed agents - can generate significant savings for plans, compared with traditional feet-on-the-street sales distribution methods.
In response to the research reference from Forrester, Connextions CEO Jack LeFort said, "We are understandably proud to be the only vendor mentioned in Mr. Doty's latest research. We are also determined to continue our role as a leader in helping health insurance providers to build their consumer-direct capabilities in this rapidly growing and lucrative market."
Connextions Inc. is a technology-based business process integration firm with broad expertise in the healthcare industry; assisting well-known health insurance plans and healthcare providers - ranging from Kaiser Permanente to Cedars-Sinai Medical Center - in their efforts to attract, transact with, and retain individual consumers. Connextions is a privately held company, and part of the New Mountain Partners II, L.P. portfolio, a private equity fund sponsored and managed by Manhattan-based New Mountain Capital LLC.
About Connextions Inc.:
Founded in 1992, with facilities Orlando, FL and Concord, NC, Connextions' nearly 2,000 professionals provide technology-based business solutions for a long list of America's best-known corporate and healthcare organizations, including Federal Express, Sprint, Mercedes-Benz, Olympus, SanDisk, Colonial Penn, Golden Rule, Caremark, Assurant Health and The Lance Armstrong Foundation. See http://www.connextions.com.
About New Mountain Capital:
New Mountain Capital, LLC is a New York-based private equity firm investing for long-term capital appreciation through direct investment in growth equity transactions, leveraged acquisitions and management buyouts. New Mountain seeks out the highest quality growth leaders in carefully selected industry sectors, and then works intensively with management to build the value of those companies. See http://www.newmountaincapital.com.