October 26th, 2009
Cantor Insurance expands benefits counseling with Wellnet unit
Cantor Insurance Group, a unit of Cantor Fitzgerald, has signed a deal with the creators of Wellnet’s Point2Point service to develop a buying tool for corporate health insurance.
Cantor (no relation to Republican Congressman Eric Cantor) signed the deal with HealthCare Interactive, a Maryland software developer, which promises a HIPAA-compliant platform like the one it delivered WellNet, a fast-growing Maryland-based benefits company which supports employers controlling employee health care data.
WellNet owns a majority of HCI.
Cantor Insurance, founded in 2005, says it “operates a number of companies that broker insurance products, trade and service life settlements, and advise clients on insurance-related financial products” but has no page of its own on the Cantor.com Web site.
HealthCare Interactive claims its application can save companies 15% on their health care costs using “predictive modeling, information sharing, and intelligent Web services.” Among its services is DestinationRX, a drug costs comparison site it licensed in 2008.
The idea may be that Cantor will use the HCI system as a sales and modeling tool for its services, finding customers that WellNet can’t find on its own.
Whether a health reform passes the private insurance market is not disappearing, so business services like this will remain important for companies seeking to limit their costs.
Dana Blankenhorn has been a business journalist since 1978, and has covered technology since 1982. He launched the Interactive Age Daily, the first daily coverage of the Internet to launch with a magazine, in September 1994. See his full profile and disclosure of his industry affiliations.
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