Sponsored Contentby Maxwell Health

Maxwell Health co-founders (and brothers), Veer and VinayGidwaney, do nothing halfway.

"I believe there are three areas where we face massive problemsas a society: education, the environment, and health care,” saidVeer Gidwaney, CEO and co-founder of Maxwell Health. "Vinay and Idecided very early on that if we were going to dedicate our timeand energy to something, we were going to work on solutions thatimpact people in a big way.”

Over 50% of the working population in the United States works for companies under 500 employees, andthat number grows when expanded to include companies under 1,000,but technology solutions for companies of that size are limited.Plus, smaller companies generally don’t have the same dollars orresources to allocate to HR.

That disparity, paired with the fact that nearly every workingAmerican has to choose health benefits at least once a year,presented a massive opportunity to build technology that wouldgreatly improve and streamline that experience. Maxwell Health wasborn.

Maxwell was founded in a converted apartment in Cambridge, MAwith 14 people and a big goal: to transform healthcare in America.Nearly four years, 150 employees, and $70 million in venturecapital funding later, Maxwell Health has made a name forthemselves in benefits administration technology space, workingwith hundreds of the country’s top benefits consulting firms, tensof thousands of their clients, and hundreds of thousands ofemployees and their families.

In Healthcare, Disruption Alone Doesn’t Work

Employee benefits is a complicated industry, with complexworkflows and a strict regulatory environment. While it is anindustry ripe for change, and flush with opportunity, the disruption approach so popular in SiliconValley is not an option in healthcare. There is too much atstake, and the penalties for making the wrong decisions aresteep.

Maxwell decided that a disruptive business model wascounterproductive, especially given the extensive expertise andlongstanding relationships that benefits consulting firms andinsurance carriers already have with business-owners and decisionmakers across the country. So, instead, Maxwell’s model leveragesexisting distribution channels to reach more employers through atrusted relationship instead of selling directly to employers.

Leveraging Existing Experience and Relationships

The selling and service environment has changed drastically forbenefits consultants over the past few years. The ACA introducednew regulations to navigate, commissions from their salesexponentially decreased, and new competition fromtechnology-forward companies forced them to rethink the way theyrun their business, service their clients, and survive in a highlycompetitive market.

Rather than displacing and disrupting this entity that providesso much value to so many small businesses that would have nowhereto turn otherwise, Maxwell saw an opportunity to help them evolve.Solving the existing problems and cumbersome processes for thegatekeepers to the insurance experience for most American families(benefits consultants) meant opening up a massive opportunity to doa lot of good for a lot of people, quickly.

Maxwell focuses helping benefits advisors re-frame their valueproposition, build sustainable, repeatable strategies processesthat can be implemented quickly, and empower their clients withtechnology to focus on what matters and automate what doesn’t. Mostimportantly, Maxwell focuses on making sure that employeesunderstand the products they’re buying, and how to use them, andappreciate the investment their company has made to ensure thatthey’re healthy and happy

In order to help benefits consulting firms not only survive in ahighly competitive market, but thrive, Maxwell recognized that theyneeded to completely revamp the way they go out to market. Benefitsadvisors must move beyond selling experience, compliance, andinsurance policies in their messaging, that just isn’tdifferentiating. Maxwell provides an opportunity for brokersto lead with technology, co-branding both theplatform as well as sales and marketing assets that reframed valuepropositions not only for the agency itself, but for theproducts and services they delivered.

Marketplace

Maxwell believes that small businesses deserve access to bigbenefits, but realized that Brokers needed to find someefficiencies in quoting and implementing ancillary plans and otherservices in order to make that sustainable for brokers. TheMaxwell Marketplace is made up of industry-leading ancillaryinsurance plans and lifestyle products with low or no participationrequirements, seamless integrations and competitive rates, so thatbrokers can easily integrate these offerings into benefitstrategies, meaning more robust, stickier benefits strategies fortheir clients, and diversified revenue opportunities for them.

When Benefits Advisors Win, American Families win

For Maxwell Health, transforming healthcare experiences for realpeople starts with transforming the way the gatekeepers to thatexperience - benefits advisors and HR teams - conceptualize anddeliver benefits strategies. While the primary goal is to armbenefits advisors with the strategies and tools to win new businessand scale their businesses effectively, Maxwell also helps benefitsadvisors with client retention and satisfaction, bycontinuously building and iterating on tools to empower HR teams toautomate complicated workflows and offer best-in-class benefits totheir employees, regardless of the size of their company. Foremployees, Maxwell helps make benefits decisions easy, both duringenrollment and throughout the year.

Maxwell Health believes that when benefit advisors win, so dotheir clients and the families that they serve and protect.