Company: CompareHealth Inc.
Business Category: A technology provider of InsurTech tools to insurance practitioners
Maturity Status: Startup (less than 3 years since product went into production)
Product or Service: Personal health insurance comparison
Area: Life & Health insurance
CompareHealth is an online platform that makes quoting and comparing personal health insurance plans (‘health plans’) easy for advisors in Canada.
Whether your client is self-employed, recently left a group benefits plan, prefers no medical questionnaires, or health plans that cover specific benefits and paramedical practitioners, CompareHealth will quote and compare the eligible plans without the headaches and potential errors from manual searches, comparisons and rate calculations.
CompareHealth currently supports 80+ health plans and 202+ plan design combinations from 11 health insurance providers across 9 provinces.
What makes us an InsurTech:
CompareHealth is a cloud-based SaaS platform running its proprietary quoting engine on an AWS server. Advisors can see health plan designs that match their client’s unique preferences in one place.
Major features & technology used:
CompareHealth’s online platform offers the following benefits to advisors:
- Save time: Input client details and preferences in one place instead of multiple websites. Generate instant comparisons of your client’s eligible health plans with the optional benefits that reflect their choices to help you close more business.
- Apples-to-apples: Compare the key details for the popular benefits your clients want most, like prescription drugs, vision, paramedical practitioners, travel and dental. See what health plans offer the benefits and practitioners your clients want.
- Sort & Filter: Complete a ‘Yes/No’ questionnaire to show health plans that match your client’s desired benefits, paramedical practitioners and budget. Select the providers you want and even filter out plans that require a medical questionnaire.
- Replacement Health Plans: Some health plans are only available to clients leaving their group benefits plan. CompareHealth will automatically calculate and compare these health plans if your client falls within its eligible timeframe (timeframes vary!).
- Province-Specific: Rates, health plans, plan designs, optional benefits, eligible ages, and how a plan’s ‘year’ is defined may vary between provinces, so you will only see the relevant information for your client.
- Design Combinations: When health plans offer multiple optional benefits, the number of plan design combinations can become overwhelming. Only see plan designs relevant to your client’s preferences to keep things simple.
- Be Compliant: Finding suitable health plans based on clients’ needs helps you comply with the ‘needs-based sales practices’ regulatory requirements of the Canadian Life and Health Insurance Association (CLHIA).
- Reinforce Your Value: Build your client’s confidence by demonstrating due diligence in finding the right health plan for their needs with the benefits and paramedical practitioners they want most.
News & Updates
See the latest CompareHealth news.
CompareHealth is an online platform that makes quoting and comparing personal health insurance plans easy for advisors and MGAs in Canada. For more information, please visit www.comparehealth.ca.
Source: CompareHealth Inc.
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