Integrity Marketing Group L.L.C. today announced that it has acquired Eldercare Insurance Services Inc. for a price that was not disclosed.
Integrity Marketing is a privately held, Dallas-based distributor of life and health products aimed at older consumers. The company was founded in 2006. It now has relationships with 100,000 independent agents located throughout the United States.
Eldercare is an insurance marketing organization (IMO) that focuses on Medicare supplement insurance, life insurance, supplemental health insurance policies, long-term care insurance policies, and other life and health products of interest to consumers 65 and older. The IMO is based in Hot Springs, Arkansas, and has about 60 employees.
Eldercare was founded in 1982.
Integrity Marketing said that Tony and John Bettis, the former owners of Eldercare, are getting a stake in Integrity Marketing.
All of the Eldercare employees will keep their jobs, and they will get to stay in Hot Springs, Integrity Marketing said.
Eldercare has its own team of traditional career agents. It also has a call center, and a network of 10,000 independent agents.
The company generated $60 million in annualized premiums from relationships with 40,000 people in 2018, according to Integrity Marketing. That represents an average of about $1,500 in premium revenue per relationship.
Eldercare posts Medicare plan producer survey data on its website.
Eldercare firm reported that about 50% of the producer who took the survey did more Medicare business during the latest annual enrollment period, and about 25% did less business. The typical producer who took the Eldercare survey submitted six to 30 Medicare plan applications during the annual enrollment period. About 20% of the producers submitted 60 or more Medicare plan applications.
The firm has also posted articles about tips for Medicare plan producers, such as detailed advice about what producers can, and can’t, put in their holiday greeting cards.
Integrity Marketing has 400 employees and relationships with 3 million clients.
— Read Integrity Marketing Group Acquires Neishloss & Fleming, on ThinkAdvisor.