BROOKFIELD, Wis., Aug. 22, 2012 /PRNewswire/ -- Connecture, Inc., the leading provider of Web-based information systems used to create health insurance marketplaces and exchanges, and Topaz Shared Services, LLC (Topaz), today announced Topaz will use Connecture's InsureAdvantage® – a modular, Web-based software platform that enables health plans to sell, administer and manage their products with ease – in its shared services offering.
Created earlier this year, Topaz is a joint venture owned by Blue Cross and Blue Shield of Kansas City and Blue Cross and Blue Shield of North Carolina. Topaz was created to provide Blue Cross and Blue Shield plans (Blues) with access to a proven technology platform that addresses the core administrative functions of plan management and operation, as well as related services. Topaz's customers benefit from lower costs, greater economies of scale and easier access to proven technologies and expertise that enable them to bring new products to market faster and more efficiently than ever before.
In addition to Connecture, Topaz also utilizes technologies and solutions offered by The TriZetto Group, Inc. Topaz's offering includes at its core an integrated platform solution from TriZetto that streamlines insurance plan design and enables benefits administration, care and network management, and member/provider engagement. Today's announcement complements this offering to include automated online sales for individual and small employer markets for new business and renewals, including exchange integration, through Connecture's InsureAdvantage® platform.
"Creating a core administrative system that is seamlessly integrated with best-in-class sales automation tools is often a very intensive undertaking for a Blue Cross and Blue Shield plan, but it's also crucial for success, especially as the retail market continues to grow," said Ian Gordon, CEO of Topaz. "Topaz was created to harness the collective strength of Blues and provide Blue plans of varied sizes with a way to put a proven technology infrastructure in place – one that outperforms anything they could attain or develop for the same amount on their own. Efficiency is the hallmark of success in health insurance and we've assembled the proven vendors and technologies Blues need to achieve it without hassle."
Connecture's Web-based exchanges and online marketplaces are used by more than half of the 20 largest health plans in the nation. More than 25 million Americans shop for their health insurance through systems built by Connecture.
Topaz selected Connecture because of its proven track record serving Blues – more than 40 percent of Blue Cross and Blue Shield companies use Connecture's health insurance information systems – as well as its success with other health insurers. Topaz was also drawn to the ironclad reliability of Connecture's software, its ease of integration with legacy systems and offerings from other providers, its understanding of Exchange regulatory environments, and the ability of Connecture's experts to address the unique needs of specific health plans.
"Topaz empowers Blue Cross and Blue Shield companies to gain a competitive advantage by radically simplifying the process normally required to put the information systems in place needed to excel in today's increasing competitive health insurance marketplace," said Doug Schneider, CEO of Connecture. "In turn, Connecture's technologies and deep understanding of how Blues work allows us to address the unique needs of individual plans fast and effectively, enabling Topaz's customers to focus on growing their business, not on the technology infrastructure required to run it."
Connecture's open, standards-based technologies integrate seamlessly with Blue plans' existing systems and TriZetto's solutions set for Topaz, which includes enterprise-wide software, application management and consulting services. Connecture and TriZetto entered into a partnership earlier this year.
To learn more about Connecture and the solutions it offers for Blue Cross and Blue Shield Companies, visit booth 327 at the 2012 Blue National Summit, September 10-13, in Orlando, Florida.
About Topaz Shared Services:
Topaz Shared Services, LLC, is a Delaware limited liability company; Blue Cross and Blue Shield of North Carolina and Blue Cross and Blue Shield of Kansas City are its charter members. Topaz will provide key business systems and processes for health insurance plans, including functions related to medical claims processing, member enrollment and billing services.
Connecture is the leading provider of Web-based information systems used to create health insurance marketplaces and exchanges. Its industry-proven solutions enable consumers, employers and brokers to more easily shop for, purchase and renew health insurance while minimizing back-office administrative expenses for health plans. Connecture's solutions are provided to health plans, state insurance exchanges, private exchanges and insurance brokers. More than 25 million Americans shop for their health insurance through systems built by Connecture, and more than half of the nation's 20 largest plans rely on them to sell, administer and manage their plans and products effectively. For more information, visit www.connecture.com.
Davies Murphy Group
SOURCE Connecture, Inc.