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Business

Cantor Insurance expands benefits counseling with Wellnet unit

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.
Written by Dana Blankenhorn, Inactive on

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.

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