Truveris launches pharmacy stop loss insurance platform to protect employers from rising benefits costs
Brokers and Advisors Can Now Run Stop Loss Quotes in Minutes Using the RxChoice Self-Service Marketplace
NEW YORK, March 17, 2015–With employers seeking to minimize pharmacy benefit risk amid skyrocketing drug prices, Truveris has introduced a new product to enable benefits brokers and advisors to help companies more easily take advantage of stop loss insurance with the nation’s first automated quote engine.
Available through the only online pharmacy benefit marketplace, RxChoice, the Truveris Stop Loss Insurance platform quickly generates quotes for Rx stop loss insurance along with or separate from quotes for pharmacy benefit manager (PBM) services – reducing a weeks-long process to 15 minutes. The platform also allows payers to begin stop loss coverage at various times throughout the year instead of just within the traditional benefit cycle window.
“With prescription drug prices far outpacing overall inflation, employers of all sizes are seeking to stabilize runaway benefit costs,” said AJ Loiacono, Chief Innovation Officer at Truveris. “Our platform, designed specifically for brokers and advisors, provides unprecedented access to comprehensive stop loss insurance rates, delivering financial security and much-needed control over prescription benefits spending. Quotes are delivered in real time, allowing anyone searching for a quote to have results in minutes.”
“Amid the proliferation of specialty drug utilization, cost containment is a top priority for all of our clients,” explained Brian Ball, National Vice President of Employee Benefits at USI Insurance Services. “With the inclusion of the stop loss offering, USI will now be able to help many more employers reap the rewards of carving out pharmacy benefits without the stress of financial uncertainty.”
For more information visit https://rxchoice.com
Truveris is the leading provider of prescription drug software, service and analytics. Our proprietary Software-as-a-Service platforms drive transparency and lower costs across the pharmacy benefit ecosystem. Solutions include RxChoice®, TruBid® and RxDashSM. Truveris is backed by Canaan Partners, New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round Capital. For more information, contact us at firstname.lastname@example.org.
Truveris has partnered with Fairmont Specialty to offer Stop Loss coverage, which is underwritten by the United States Fire Insurance Company. Fairmont Specialty and Crum & Forster are registered trademarks of United State Fire Insurance Company.