Health insurance exchanges, both public and private, are the topic of much discussion these days. Many national and regional brokers alike have communicated their exchange strategies, and private exchanges are swinging into operation. Not a day goes by that I don’t hear about an exchange opportunity from brokers and general agents. Much of the discussion has been focused on the technology and mechanics of exchanges. What will they look like? How will they operate? What about the user experience? Next generation decision support, UX 2014, defined contributions. Group benefits, community rating, voluntary products. Each exchange offering slightly different approaches and capabilities. Competition at its best.
However, when all is said and done, the success or failure of any given exchange hinges on one single component: customer service. Service has been written about and proven to be the only sustainable competitive advantage in virtually any business. And HIXs are no exception. Exchange technology will continue to evolve and improve; vendors leapfrogging each other with new capabilities and the latest advances in usability and social networking. First movers will have an initial advantage, but only service will differentiate a HIX over time.
