Innovative technologies often revolutionize an industry while leaving the people who built that industry behind.
Uber revolutionized transportation but left hundreds of thousands of taxi drivers suffering in its wake. AirBNB has put a major dent into the hotel business. And the number of dedicated workers who have been displaced by automation is truly heartbreaking.
Like Uber and AirBNB, Candor Insurance has broken new ground in its industry. Unlike them, however, Candor is empowering existing brokers – instead of putting a huge dent in their profits or putting them out of business.
Here’s how it works.
Candor Values Brokers
Candor Insurance understands that health insurance Brokers are a valuable and important asset and liaison to individuals, families and small businesses. That’s why Candor’s goal is to help maintain Broker control by supporting the Brokers as they provide individualized services to their clients, and Brokers continue to remain key players in the health insurance industry.
Brokers have the knowledge and the client base; Candor provides them with the modern technological tools they need to ease their workload and improve the end product they deliver to their customers. Candor Insurance’s groundbreaking software makes it simple for Brokers to enable clients to match the right carriers and plans, providing more and better options at lower prices.
In short, Candor doesn’t compete with Brokers. It partners with them.
Candor’s Innovative Approach
The goal of Candor Insurance is to democratize health insurance and become every American’s health insurance companion.
That’s done through the company’s landmark online private insurance exchange, where clients have a wealth of options to choose from. Brokers simply send clients to their own branded section of the Candor website, where the clients are able to shop, compare, enroll and renew automatically without the Broker having to intervene but still maintaining control and receiving their commissions.
This isn’t just “any” online marketplace, though. Candor has developed an exchange with an unprecedented level of transparency and simplicity. Clients can compare all plans and coverages, from most carriers, side-by-side. But there’s an added benefit that no other exchange can offer. Candor’s Life Modeling™ and Predictive Analytics™ allow clients (and Brokers) to compare the cost of each covered event with each provider – before they make their choice and enroll.
The advanced analytics extend to the Broker’s side as well. All of their clients’ health insurance business data is stored securely on the cloud and is at their fingertips at any time, providing them with a multitude of actionable insights and powerful reporting on everything from retentions to conversions. The reports can be also integrated into QuickBooks, XERO, and other programs.
The bottom line? Candor delivers the powerful technological tools that let health insurance Brokers take their agency to the next level while investing a fraction of the time and work normally required to service health insurance clients.
That’s not displacement. That’s empowerment.