Gloucester, MA May 30, 2001 IE-Engine Inc., a provider of private e-marketplaces for corporate health and welfare plan procurement, announced today that more than 90 group insurance carriers and specialty suppliers have participated in its private e-marketplaces for complex medical, as well as ancillary, health and welfare programs.
Insurance-Engine creates private online communities through which employee benefits consultants and brokers collaborate with the group insurance carrier/supplier community on employee benefits procurement activities.
Carriers and specialty suppliers participating in Insurance-Engine private e-marketplaces to date include Aetna US Healthcare, Ameritas, Blue Cross Blue Shield of Illinois, New England, North Carolina, and New Mexico.
"We provide top- and bottom-line value for all our stakeholders, including the employer, the intermediary, the carrier and supplier community," stated Brent Bannerman, president and chief operation officer of IE-Engine. "Our intermediary partners know which suppliers and carriers should participate in their clients' e-request for proposal (e-RFP) process. Rather than our company creating those markets for them, our customers create their own markets simply by inviting the carrier or supplier to participate."
In addition to lowering the cost of client acquisition through the e-RFP process, carriers are also able to differentiate their program offerings through alternate bidding and program features. The technology assures suppliers that their crafted products and services are not commoditized in the eyes of the buyer.
"Our Carrier Service Team trains each user and provides ongoing support throughout the e-RFP process," stated Bannerman. "Providing personalized, live support to our carrier participants helps assure low adoption costs, a positive user experience, better outcomes and valuable feedback for future product enhancements."