LTCI Issuer Gets New President
Prichard helped lead an effort to bring outsourced functions back in-house.
Patrick Prichard has taken over from Kevin Stutler as president of LifeSecure Insurance Company — one of the company that’s still writing stand-alone long-term care insurance (LTCI).
(Related: Stutler to Lead Michigan Long-Term Care Insurer)
LifeSecure is a Brighton, Michigan-based arm of Blue Cross Blue Shield of Michigan.
Stutler was vice president of enterprise ancillary business at Michigan Blue before he became president of LifeSecure. Stutler has now returned to his old position at Michigan Blue.
LifeSecure
LifeSecure has put more emphasis on the sale of critical illness insurance and other non-LTCI products in the past few years.
In the announcement of Prichard’s new role at LifeSecure, the company describes itself as offering “accident, critical illness, hospital indemnity and long-term care insurance products.”
Patrick Prichard
Prichard has been LifeSecure’s chief operating officer since 2016.
He has a bachelor’s degree from Auburn University. He worked in sales positions and other positions at Lincoln Financial, UnitedHealth Group Inc. and Michigan Blue before going to LifeSecure.
Since becoming LifeSecure’s chief operating officer, Prichard has helped improve service, by bringing underwriting and claim administration in-house, and he has helped arrange for BCS Financial, a company that provides products and services for Blue Cross and Blue Shield carriers, to distribute LifeSecure products, according to LifeSecure.
BCS Financial made an investment in LifeSecure, and ended up owning part of LifeSecure, in connection with the distribution relationship, according to Life Secure.
— Read LifeSecure Rolls Out Critical Illness Policy, on ThinkAdvisor.
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