High technology isnt the only industry with former employees spinning off new ventures.
In a field nearly as difficult to understand as information technology and just as likely to take on catchy and quirky monikers, former Highmark executives Gus Georgiadis and Jim McTiernan have formed TRIAD USA, a benefits services firm.
The partners are promising employers that they can help them unravel some of the complexity of their benefits plans and squeeze the most value out of the dollars they putt into them. The company was started, say the partners, because most buyers are confused and frustrated over what they see as a limited return on a major investment and a one-size-fits-all approach from carriers.
Their approach, they say, is to look beyond price to include such factors as administration, account service, quality management and member satisfaction when determining the value of a plan to an employer.
There is a great deal of uncertainty in the market, and most buyers feel they are not seeing real value from their investment, says Georgiadis.
The two have a combined 35 years of experience in insurance and benefit management. Georgiadis served as executive vice president with Highmark before forming TRIAD USA with McTiernan, who was director of national accounts at Highmark.
The company has among its clients PNC Bank Corp., General Nutrition Inc., Wheeling Pittsburgh Steel and Eli Lilly and Co.
Ray Marano (email@example.com) is associate editor at SBN.