Continues to expand its offerings for small and mid-sized businesses
NORTH RICHLAND HILLS, Texas – HealthMarkets Insurance Agency announces it has acquired Minneapolis, Minnesota-based Excelsior Benefits, LLC, a large, nationwide group health insurance general agency. The acquisition of Excelsior follows HealthMarkets’ July 2015 acquisition of Benefitter Insurance Solutions, Inc., a technology company providing employee benefit decision support tools to small businesses and their employees.
The addition of Excelsior brings additional value to HealthMarkets’ rapidly expanding suite of products, services and technologies aimed at the increasingly underserved small and mid-sized employer market and the brokers who serve them. HealthMarkets intends to invest significant resources in growing Excelsior’s footprint and wholesaling breadth with the goal of replicating the success the company has achieved in the individual and Medicare markets.
“We believe the addition of Excelsior and Benefitter gives brokers the ability to enhance their capabilities in this important market and strengthens the platform of the more than 3,000 licensed, local HealthMarkets career agents who serve small and mid-sized businesses every day,” said Ken Fasola, President and CEO of HealthMarkets.
Tom Nicol, President of Excelsior Benefits, will continue to lead Excelsior’s team so that brokers continue to receive excellent service and added capabilities.
“HealthMarkets is uniquely positioned to build upon Excelsior’s growing business and adds both technology and supplemental product capabilities that we believe will be tremendously valuable to our brokers,” said Nicol.
About HealthMarkets Insurance Agency
HealthMarkets Insurance Agency, a wholly-owned indirect subsidiary of HealthMarkets, Inc., is the d/b/a or assumed name of Insphere Insurance Solutions, Inc. Authorized in all 50 states and the District of Columbia and representing more than 200 branded insurance companies, HealthMarkets offers consumers a “one-stop” shopping experience for health insurance, combining around-the-clock phone and online assistance with the personal approach of more than 3,000 licensed, local career agents nationwide. It is a leading private health insurance marketplace offering multi-channel flexibility for individuals, families and small businesses. For more information, please visit HealthMarkets.com.
About Excelsior Benefits, LLC
Excelsior Benefits, LLC offers specialized insurance and employee benefit packages intended to meet the needs of independent brokers and agents. Excelsior’s proven business model of group sales, individualized service and renewal support, together with its tenured sales team, carrier relationships and product expertise, have allowed Excelsior to build a compelling portfolio for brokers and their employer clients.
Cautionary Statement Related to Forward-Looking Statements
This news release may contain forward-looking statements regarding Insphere Insurance Solutions, Inc., d/b/a HealthMarkets Insurance Agency, and its affiliates. These forward-looking statements are neither historical facts nor assurances of future performance, and are subject to certain risks, uncertainties and assumptions which are difficult to predict and many of which are outside of our control. Such forward-looking statements can be identified by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “objective,” “plan,” “possible,” “potential” and similar expressions. These statements are based on management’s current beliefs, expectations and assumptions, and actual results may vary materially from those included in the forward-looking statements. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them, whether as a result of new information, future developments or otherwise. Readers are cautioned not to place undue reliance on any forward-looking statements made by us.