One company that helps insurers manage blocks of long-term care insurance business has acquired another business in the same market.
LTCG is an Eden Prairie, Minnesota-based company that helps insurers, reinsurers and entities in charge of insolvent insurers administer about 1 million LTCI policies.
Marc Cohen, a Brandeis University faculty member, and three colleagues from Brandeis founded LifePlans in 1987. The ownership team sold the company to Munich Re in 1998.
The Waltham, Massachusetts-based company runs a large network of nurses who understand long-term care and LTCI. The nurses can help with keeping LTCI policyholders healthy and at home, screening claimants, coordinating care, and managing claims.
LifePlans has also published high-profile reports on the state of long-term care services and long-term care insurance.
Cohen left a role chief research and development officer at the company in 2016. He is now a senior advisor at LifePlans and a professor in the gerontology department at the University of Massachusetts Boston.