What You Need to Know
- Don Loonam previously ran an insurtech company that was acquired by Prudential.
- HealthCare.com sells other companies’ products and is developing its own.
- It works with outside agents and brokers.
HealthCare Inc. has brought in Don Loonam to be its CEO and Bryan Lewis to be its chief financial officer.
The firm — which goes by the name HealthCare.com — says it’s hoping the executives will help it expand its insurance distribution and insurance manufacturing operations.
The New York-based company started up in 2014. It now sells major medical insurance policies, Medicare plans, supplemental health insurance policies and other types of insurance products with help from a network of about 12,000 outside insurance producers.
The company’s Pivot Health division works with outside organizations to develop proprietary supplemental insurance products and programs.
Howard Yeh, HealthCare.com’s co-founder, who has been the CEO, will become the chief operating officer.
Jeff Smedsrud, another co-founder, will continue to be president of insurance services.
The New Executives
Loonam, the new CEO, previously was chief operating officer of Assurance IQ, a company that helps consumers with health wellness and financial wellness products and services.
Prudential acquired the company for $3.5 billion in 2019.
Loonam earned a bachelor’s degree at the University of Illinois at Urbana-Champaign. He started out as a sales executive at Washington Mutual, and as a sales and marketing executive at AccuQuote.
He was the CEO of AcademixDirect Inc. from 2015 through 2018, before heading to Assurance.