E-Offering Updated Report:
eoffering.com
HealthAxis Easily Remains Leagues Ahead of Would-be Competitors
7/21/99
Last week, we mentioned eHealthInsurance.com as a potential challenger to HealthAxis? {subsidiary of Provident American Corp. (PAMC ? Buy)} leading role in the online health insurance sphere. We decided to dig a little deeper and assess firsthand the seriousness of this threat. Our conclusion: Breathe easy, HealthAxis, you still have a few laps on the competition.
We actually went through the application process on both sites, and, in terms of look and feel, the sites were fairly comparable. Both provided comprehensive plan information, and required any potential applicant to take about 10 minutes to fill in their personal information. Neither site offered a choice of carrier. However, as soon as HealthAxis? new partnerships with Fortis, WellPoint, and at least six other insurance companies go online, not only will HealthAxis provide a choice, but the selection will also encompass those companies quoted by eHealthInsurance.com. In terms of availability, the 22 states covered by HealthAxis exceed any other player by significant orders of magnitude.
Transactional capability is what gives HealthAxis the leading edge. Though eHealthInsurance.com claims to offer online purchasing capability, this is a bit of an exaggeration. In actuality, the applicant completes an online form, which then is submitted for review. If the application is appropriately completed, the application is sent snail mail for the applicant?s signature. As we see it, this does not qualify as an online purchase. We?re not getting the U.S. Postal Service involved once, but twice here!
HealthAxis, on the other hand, offers end-to-end transactional capability. It has built the model that many of the Internet pre-processing models could eventually adopt. We reiterate our enthusiastic support for Provident American (PAMC-BUY) and HealthAxis. |
