A press release issued today by Towers Watson, the global professional services company, announced that it has acquired Liazon Corporation, one of the leaders in developing and delivering private benefit exchanges for active employees.
The release noted that this acquisition, which follows the purchase of Extend Health in June 2012, solidifies Towers Watson’s strength in the private exchange market through its OneExchange solution. Going forward, Towers Watson said it will continue to enhance Liazon’s private exchange solution and serve the needs of Liazon’s broker, consultant and carrier partners, some of which offer the Liazon product under their own brands.
According to the release, Liazon’s online benefit marketplaces are currently distributed through over 400 insurance brokers, including nine of the top 10 national firms, under either the Bright Choices® brand or as a third-party proprietary exchange.
Towers Watson said it plans to continue these relationships based upon their current terms and use the Liazon name in the market with its broker partners. Towers Watson indicated that it will also continue to offer its OneExchange solution, which primarily serves larger employers. The OneExchange and Liazon solutions together will help organizations of all sizes deliver self- and fully insured benefits to both employees as well as pre- and post-65 retirees in new and cost-effective ways, Towers Watson said.