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July 27, 2015 at 02:33 PM
AXA Strategic Ventures (ASV), announced it has invested in mobile insurance technology provider, Limelight Health. Founded in 2014, Limelight Health provides mobile, cloud-based technology that enables companies to simplify employee health benefits information and streamline the proposal, decision and renewal process. QuotePad, Limelight Health’s first commercial product released in January 2015, solves for the problem of redundant, paper intensive sales and administrative work in insurance. QuotePad is a mobile, real-time technology platform that enables brokers, carrier representatives and underwriters to immediately respond to customer quote requests, compare employee benefits information and model interactive health plan cost scenarios with real-time market data. This results in a superior customer experience and understanding of the benefits being offered.
Digital Insurance, an employee benefits-only company and a subsidiary of Fidelity National Financial (FNF), has acquired Compass Consulting Group and its affiliate Prospective Risk Management (PRM), both headquartered in Jacksonville, Fla. Compass Consulting and PRM are premier providers of employee benefits consulting and health care risk management services. The transaction underscores Digital’s strategy of expanding its national platform to include complementary lines of businesses.
“Compass’ consultants are experts in the design and management of benefits solutions for an array of businesses including large employers, private equity arrangements, associations, and in particular, many of the largest PEOs (Professional Employers Organizations) in the country,” says Adam Bruckman, president and CEO of Digital Insurance. “In addition, they offer actuarial and underwriting services through their PRM affiliate which delivers risk management expertise using proprietary predictive modeling and emerging conditions tools. The consulting and risk management capabilities, together with the companies’ high-growth track record, make them attractive investments for Digital. Compass and PRM align with our strategy of investing in vertical businesses that thrive on a stand-alone basis, but have the potential to grow significantly by leveraging our capital resources.”
The International Health & Wealth Conference (IHW) is getting in shape with program and speakers´ information now available online. Experts from more than 15 countries are vitalizing the conference agenda. IHW is a unique, independent networking event connecting industries, science and business linked to health and wealth, one of the world´s most prosperous and developing cross-section markets in the 21st century.For more information about the IHW Conference please visit the updated website here.
LIMRA, in collaboration with the Society of Actuaries (SOA), published a report examining recent experience data for long-term care insurance mortality and persistency experience in the United States. “With 70 percent of Americans over 65 expected to need long-term care, this research is very important to help companies design their products to reflect consumer needs and actual behaviors around long-term care solutions,” said Marianne Purushotham, corporate vice president and research project director for LIMRA. Based on the 10-year experience period, mortality rates for long-term care policyholders appear to be lower than other insurance products, including life insurance and individual annuities. The study used data gathered by the SOA from 22 long-term care carriers in the industry, representing approximately 75 percent of the lives in-force during the period 2000-2011. The report also used industry experience databases for incidence, claim termination and claim utilization experience by Towers Watson. Aggregate databases for policy termination experience including voluntary lapse, mortality, and total termination experience were developed by LIMRA and are detailed in the report.
MassMutual Retirement Services is introducing co-browsing to enhance online services to retirement plan savers, employers, financial advisors and third-party administrators. Co-browsing allows retirement plan customers to more closely interact with MassMutual service team members and call center employees by allowing them to view what the customer is seeing online while answering questions about retirement plan websites. Co-browsing, which is used only when a client grants MassMutual permission, helps service representatives resolve issues more quickly, typically on the first call, with a greater level of understanding and satisfaction than other electronic communications. Security options also allow Web users to block sensitive information during the co-browsing session.
