BROOKFIELD, WI and CHICAGO, IL--(Marketwired - January 16, 2014) -
Diversified Insurance Solutions, one of Wisconsin's leading insurance brokerage firms, announced that they have selected bswift, a leader in software and services for employee benefits administration, to provide the exchange technology platform for the Diversified Insurance Marketplace. The private exchange is designed to manage costs for employers and offer competitive benefit options for employees by leveraging the robust technology bswift has developed over the last 14 years, including the following functions and capabilities:
- A robust defined contribution platform for employers and employees
- Shopping tools, decision support and enrollment for employees
- Seamless integration with insurance carrier underwriting
- ACA Compliance Tools
- Employer tools including reporting, dashboards and alerts
- Electronic Data Interchange (EDI) files and transmissions to carriers and payroll
- Easy self-billing for employers
The Diversified Insurance Marketplace will first concentrate on businesses in southeastern Wisconsin and will feature four major health insurance carriers: UnitedHealthcare, WPS Health Insurance/Arise Health Plans, Common Ground Healthcare Cooperative and Network Health Plan. The exchange will allow the employer to select an insurance carrier(s) and set a defined contribution per employee. Employees will have the flexibility to make their own insurance decisions and personalize their own benefits package.
"Instead of the employer deciding what's best for employees, employees get to shop the online marketplace, compare plan benefits and costs and choose an insurance plan that's right for them," commented Robert Sowinski, CEO of Diversified Insurance Solutions. "We're giving employees more insurance options, more easy-to-use decision-making tools and ultimately more control."
bswift CEO Rich Gallun remarked, "Diversified has designed an intelligent health insurance exchange to help employers manage benefits costs and increase employee satisfaction in the increasingly competitive landscape for attracting and retaining talent. With their expertise and our proven technology, we expect a strong future for exchanges of this type and leaders like Diversified that are getting a head start in the changing world of health care and benefits."
Based in Chicago, bswift offers software and services that streamline benefits, HR and payroll administration for employers and public and private exchanges nationwide. bswift's state-of-the-art cloud-based technology and outsourcing solutions significantly reduce administrative costs and time-consuming paperwork, making life easier for administrators and millions of consumers who enroll in benefits with bswift. For more information, visit www.bswift.com and check out the bswift blog at www.bswift.com/blog.
About Diversified Insurance Solutions
Diversified Insurance Solutions provides employee benefits, risk management and business insurance to area companies and is one of Wisconsin's largest, full-service insurance brokers. For more information, visit www.div-ins.com.