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1) Zenefits triggers an “arms race”
The HR tech startup is following the blueprint of E*TRADE Financial in securities and Ally Bank in banking, says Aite Group Senior Analyst Mike Trilli. “All three models promote online self-servicing in industries where manual-intensive paper enrollment processes were once the norm,” Trilli says. “This model is triggering a health insurance arms race, forcing brokers, agents and benefit administration companies to protect erosion in their small-business market share, taking notice of how their software is packaged and priced as well as protecting against a broker exodus to Zenefits.”


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