Creating Connectors

1. Insurance Industry has large investments made since early days of information technology. Many of those investments are still being used and valued, but extending and enhancing those platforms are expensive and time consuming. We have helped many of our partners by building bridges and connecters to their running operational systems to the modern, web and cloud enabled systems to improve efficiencies with minimal investment and in lesser time. We could extend any of the legacy or older versions of the business solutions by this architectural approach of connectors.

The concept of a Connector, or an organized marketplace of different policy options, has gained popularity in insurance industry as a way to reduce barriers to acquiring business advantage. There are a number of models of insurance Connectors, but to date only few insurers have utilized them. It is important to note that without certain external policies and internal elements, a Connector will fail to improve a company’s insurance system.

To achieve these goals, we have identified some vital policy elements to help a Connector work correctly:

External of the Connector, a state’s insurance policies should:

• Provide a strong base for public insurers;
• Guarantee access to all kinds of insurance policies
• Limit insurers’ ability to vary premiums based on health, age or other factors.

Internally, the Connector should:

• Offer standardized plans;
• Provide subsidize premiums for lower-income people
• Provide efficient customer service and enrollment support.
• Without these transformations, a Connector is unlikely to improve access for its end consumers.