The acquisition, which follows the purchase of Extend Health
in June 2012, furthers the presence of Towers Watson in the private exchange
market through its OneExchange service. Towers Watson says it will continue to
enhance Liazon’s private exchange services and serve the needs of Liazon’s broker,
consultant and carrier partners.
Liazon’s online benefit marketplaces are currently
distributed through more than 400 insurance brokers under either the Bright Choices brand or as a third-party proprietary
exchange (see "Firms Announce Private Exchange Partnership"). Towers Watson plans to continue these relationships based upon their
current terms and use the Liazon name in the market with its broker partners.
Towers Watson will also continue to offer its OneExchange solution, which
primarily serves larger employers (see "Towers Watson Announces Health Care Exchange Providers"). The OneExchange and Liazon solutions
together will help organizations of all sizes deliver self- and fully-insured
benefits to employees, as well as pre- and post-65 retirees.
“Liazon has built a growing business by offering customized
private exchange approaches through an extensive network of partners. We are
delighted to team with them and serve a part of the market that Towers Watson
had not previously reached,” says John Haley, CEO of Towers Watson.
Liazon co-founder and CEO, Ashok Subramanian, will join the
leadership team of Towers Watson’s Exchange Solutions segment. Bryce Williams
will continue to lead the overall segment.
Subramanian says, “By joining Towers Watson, we’ll be better
positioned to achieve our top priority — to provide our clients and partners
with an even greater array of best-in-class tools, resources and service across
all market segments.”