Magazine article American Banker

GE Financial Web Site to Offer Health Insurance

Magazine article American Banker

GE Financial Web Site to Offer Health Insurance

Article excerpt

GE Financial Assurance Holdings Inc., looking to round out the financial services offerings at its Web site, has signed an agreement to offer health insurance products from multiple carriers through the site.

The insurance and investment business of General Electric Co. is hoping to build its health insurance sales through the Internet as part of a larger plan to grow several distribution channels, including its bank channel.

"We offer everything from auto and homeowners' insurance, to annuities, mutual funds, mortgages, and credit cards, so this helps us complete our financial services offerings," said Marissa Moretti, a spokeswoman for GE Financial.

In the bank channel, the Fairfield, Conn., company sells long-term-care, term life, and variable life insurance, as well as fixed and variable annuities.

The Web-based provider of the health insurance products, eHealthInsurance Services, of Sunnyvale, Calif., offers individual, family, and small-group health insurance from an array of insurers. It also has 60 licensed agents available to counsel potential clients over the Internet, via e-mail or phone.

GE Financial's decision to link up with eHealthInsurance comes a little over a month after Bank One Corp. of Chicago agreed to start selling health insurance through the health insurance portal. Bankone.com customers, along with the company's Internet bank, Wingspan.com, are targeting small-business and individual customers, according to Glen Milesko, chairman of Banc One Insurance Group. …

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