What Drives Carrier Choice on Private Exchanges?
A key advantage of private exchanges is to provide benefits consumers with greater choice – both in products and plans, and, depending on the type of exchange, carriers. Previously, Liazon has uncovered insights into plan choice, based on years of providing private exchanges to clients from a wide range of industries, sizes, and locations. In our latest white paper, we turn our attentions toward carrier choice in a multi-carrier exchange environment. This analysis will help brokers and carriers better understand the impact that pricing adjustments can have on a carrier’s market share vis-á-vis the competition within each market.
Depending on whether or not a carrier is incumbent, different strategies can be pursued in order to gain market share or maximize profitability. Carriers would be well advised to invest in customer service, brand recognition, network quality, product innovation, etc. if they want to differentiate themselves on factors other than price. Read the full white paper to learn more.