Updated: May 11
The following is an excerpt summary. Read the full article here.
The healthcare insurance broker sector has faced multiple challenges - COVID-19 causing rising healthcare costs, employee attrition levels, and employers seeking new solutions to manage costs while expanding benefits. This has led to a growth in new vendors and start-ups with innovative solutions, but brokers need to ensure they are vetting these solutions and presenting the right options for clients.
The sector is also seeing a rising interest from private equity (PE) investors, who are increasingly focused on digital health, value-based care, and consumer-driven services. Brokers can leverage this PE interest by conducting thorough research and due diligence to stay ahead of the market.
The RAD Collective, created by Philadelphia-based consulting and investment firm Archetype, aims to support benefit consultants in solving industry challenges and having a meaningful impact on the industry. Its members have the opportunity to share their challenges, collaborate with industry professionals and gain access to the latest tools, strategies, and resources.