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Tranzact to Hire 1,200 Health Insurance Agents

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TZ Insurance Solutions LLC says it hopes to hire about 1,200 insurance sales agents in time for the Medicare plan annual enrollment period.

TZ Insurance — a Fort Lee, New Jersey-based company that does business as Tranzact — wants to fill all of the posts by September.


The Medicare annual enrollment period traditionally runs from Oct. 15 through Dec. 7.

The Company

Marc Byron started TZ, as Paradigm Direct, in 1997. He sold it in 2000, then bought it back, with help from Halyard Capital, in 2003, He changed the name of the company to Tranzact around that time.

The company sells Medicare supplement insurance policies, Medicare Part D prescription drug plans, and ancillary products, such as dental insurance and life insurance, as well as Medicare Advantage plans.

Veronis Suhler Stevenson, a private equity firm, and Ares Private Equity Group acquired MG LLC, Tranzact’s parent, for $185 million, in 2007, according to the website of Trivergance, another Marc Byron company.

White Mountains Insurance Group Ltd. acquired MG from Veronis Suhler Stevenson and Ares Private Equity Group, for $280 million, in 2014.

Clayton Dubilier & Rice LLC acquired MG from White Mountains, for a price that wasn’t disclosed, in 2016.

Willis Towers Watson acquired MG from Clayton Dubilier, for $1.3 billion, in July 2019.

When Willis closed on the transaction, Tranzact had about 1,300 employees, including 850 licensed agents.

The Opportunity

Tranzact is recruiting agents in Boxborough, Massachusetts; Charlotte, North Carolina; Fort Myers, Florida; North Canton, Ohio; Richardson, Texas; and Tampa, Florida.

The company says it’s interested in applicants with experience in the hospitality, travel and service industries as well applicants with experience in insurance.

Tranzact will pay for online agent licensing classes for new hires who are not agents, and it will pay those new hires’ agent license application fees, the company says.

Tranzact will host virtual job fairs for the openings through WebEx, and it will conduct the job interviews through video calls.

— Read These 3 Companies Say They’re Hiringon ThinkAdvisor.

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