IBX

Description:

  • Proprietary, web-based technology for sourcing and contract management of Life Disability, Stop Loss, Vision, Pharmacy and Dental insurance products.
  • Over 2,500 insurance contracts with total premiums in the excess of $2 billion annually.
  • Founded by senior members of one of the largest U.S. insurance carriers.
  • As industry veterans, the IBX team understand not only the challenges HR teams face in a changing environment, but also how to run successful sourcing projects.

Benefits to Employers:

  • Generate savings.
  • Save time.
  • Have critical information at your fingertips.
  • View side-by-side comparison of carriers proposal content and premiums right in the IQ System during the RFP.
  • See carriers initial pricing compared to their “market pricing.”
  • Perform scenario analysis of change to new career – before you switch.
  • Access an elite group of advisors who are members of the IBX Advisor Network.

The IBX Process

  1. On the behalf of the employer, RBA enters requirements for price and contract into the system. Identifies carries to invite.
  2. Invited carriers enter bids into the IBX IQ System.
  3. IBX evaluates the bids based on employer’s established criteria. Employer and advisor compare bids in the system.
  4. System ranks bids, and the carriers can then improve bids.
  5. Employer and/or advisor evaluate the results and selects a carrier based on their contractual and financial offer.

We bring personalized, comprehensive benefits coverage to employees