Connecture

About Connecture

Connecture, Inc., now operating as ConnectureDRX, provides a web-based software-as-a-service (SaaS) platform for the health insurance industry, with a primary focus on Medicare. The company was founded in 1997 by individuals including Doug Schneider and David Sockel, with Dan Maynard also being a co-founder. Headquartered in the Milwaukee area, the firm was established to automate key functions in the health insurance distribution process.

The company's core business revolves around providing a digital platform that facilitates the shopping, quoting, enrollment, and retention of health insurance plans. Its client base includes insurance carriers, pharmacy benefit managers (PBMs), Field Marketing Organizations (FMOs), insurance brokers, and government agencies. Revenue is generated through its configurable and integrated software solutions that help clients increase sales, manage members, and reduce operational costs.

ConnectureDRX's flagship platform, PlanCompare, is a widely adopted Medicare enrollment solution. It enables a personalized shopping experience by allowing users to compare plans based on health status, preferred providers, prescription drug needs, and expected out-of-pocket costs. Key features include DrugCompare and DatabaseRx, which provide drug pricing transparency and suggest therapeutic alternatives to lower medication costs. The platform supports all Medicare plan types—including Medicare Advantage (MA), Part D (PDP), and Medigap—as well as ancillary products. Agents and brokers can use the system to manage their clients, send quotes, and facilitate electronic enrollments via features like text-to-sign.

Over the years, Connecture has undergone significant corporate changes. It acquired DestinationRx (DRX) in 2013, a major provider of Medicare plan comparison and enrollment technology that powered Medicare.gov's PlanFinder. The company went public (NASDAQ:CNXR) and later received a substantial $52 million investment led by private equity firm Francisco Partners in 2016. By 2018, Francisco Partners took the company private in a transaction valued at $52.1 million. Subsequently, in 2019, Connecture's commercial U65 business was sold to Benefitfocus, allowing the company to concentrate on its Medicare and drug transparency solutions. Later that year, the entire company was acquired by N. Harris Computer Corporation, a subsidiary of Constellation Software, and now operates as part of the Harris Healthcare group.