Arthur J. Gallagher & Co. announced that its employee benefit consulting operation, Gallagher Benefit Services, Inc. (GBS), has launched a private insurance exchange platform. Exchanges are expected to provide employers and employees an effective online marketplace to help them budget for, evaluate and purchase employee benefits.
GBS has partnered with Liazon Corporation to offer the Bright Choices® Exchange. This online benefits store enables employers to save money on their healthcare costs by setting predictable budgets, while enabling employees to select health, dental, vision, life and disability coverage, among other benefits, from various national and regional insurance providers. Anthony F. Hernandez, GBS Chief Information Officer, adds, "We've selected a proven, comprehensive solution in the Bright Choices® Exchange—one that is easy to deploy, easy for the employee to use and built on outstanding technology."
"There will be many different private exchange models and organizations will be interested in them for different reasons. Some organizations may be focused on simplifying a complex benefits administration process, while for others this may be a key piece in helping execute their Total Rewards strategy," says GBS President James W. Durkin, Jr.
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 17 countries and offers client service capabilities in more than 110 countries around the world through a network of correspondent brokers and consultants.