Health Insurance, Insurance Technology
PRnewswire | July 26, 2023
Enhance Health, a digital health insurance brokerage and care navigation platform, is excited to announce the acquisition of JET Health Solutions, a premier Enhanced Direct Enrollment (EDE) platform. The acquisition reinforces Enhance Health's commitment to serving its members and scaling its operations effectively through technology.
"We are thrilled to announce the acquisition of JET Health Solutions," said Matthew Herman, CEO and President of Enhance Health. "Since Enhance's founding, we've been committed to leveraging technology in new ways to simplify the enrollment process. JET's advanced EDE platform improves our already best-in-class member and agent experience."
With hundreds of thousands of members enrolled in Affordable Care Act (ACA) plans as well as Medicare Advantage plans, Enhance Health has established itself as a trusted partner in the healthcare industry. The acquisition of JET empowers Enhance Health to fully own the enrollment process, enhancing its capabilities and expanding its services with one of the few CMS-certified Phase 3 EDEs available in the market.
"Joining forces with Enhance Health is an exciting opportunity to drive meaningful change in the healthcare industry," said Asad Shamim, Founder and Managing Partner of JET Health Solutions. "Together, we are well-positioned to revolutionize the enrollment process and improve healthcare access for individuals and families across the nation."
Since its establishment in 2008, JET Health has equipped healthcare payers and providers with cutting-edge tools to excel in the ever-evolving healthcare marketplace.
"Integrating an EDE into our technology stack solidifies Enhance as the leader in the digital health insurance space," said Jeff Tang, CIO of Enhance Health. "Fully integrated with our CRM and other agent systems, this platform will fundamentally change the way we interact with our members through streamlined agent workflows, actionable data, and enhanced data security."
About Enhance Health
Founded in 2021 by industry veteran Matt Herman and backed by Bain Capital Insurance, Enhance Health has experienced rapid growth due to the record number of Americans enrolling in ACA health plans in 2022. Enhance Health has grown its membership base to hundreds of thousands, and is rapidly expanding into other insurance business lines.
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Core Insurance, Workers Compensation
PR Newswire | August 02, 2023
Zywave, an industry-leading provider of insurtech solutions, announced today the expansion of its API capabilities, which enable insurance organizations to further maximize their data-driven opportunities throughout the entire prospect-to-client journey. Through these multiple solutions, Zywave will provide users access to insightful, new data sets, empower organizations to optimize their technology workflows, and enable them to use their existing data in meaningful, new ways.
Over the past few months, the insurtech provider released two new API products, including Lead Insights API, which provides access to a comprehensive database for lead generation; and Personal Lines Quoting API, a solution that brings quoting with carrier-direct pricing into an insurance organization's existing technology platform.
"As insurance workflows have become increasingly sophisticated in recent years, APIs have played an even more critical role in the industry, enabling seamless integration between various systems and platforms," said Jason Liu, Zywave's CEO. "At Zywave, our philosophy on open architecture emphasizes the importance of industry partnerships and collaboration, which has led to the development of new solutions that help insurance brokers, insurers, and service providers optimize their operations."
Demonstrating its commitment to open architecture, Zywave is introducing several new API solutions that will further revolutionize the industry:
Just released, Zywave's Lead Insights API will help users revolutionize their prospecting and sales processes, by providing access to the extensive customer data that powers Zywave's industry-leading lead generation solution. The miEdge dataset enables advanced company searches, identifies key contacts and offers critical insights into employer compliance data for millions of employers nationwide.
Also new to market is Zywave's Personal Lines Quoting API, a one-stop shop for quoting auto coverage. With carrier-direct pricing from our over 200 insurer partners in all 50 states, the Personal Lines Quoting API helps our customers enhance their rating processes and maximize operational efficiency, all within their existing technology platforms. In addition to auto, home coverage will be added to the offering in the coming months.
Available through Zywave's Sales Cloud, the Policy API enables key policy information to flow freely between critical technology platforms, such as customer relationship management systems, agency management systems, benefit admins, compliance systems, or carrier portals. The structured format of data the API is built upon allows users to create a single source of truth for their policy information between multiple systems, resulting in more streamlined processes and reduced errors.
Released in January 2023, the Group Benefits Quoting API enables benefits brokers to quote medical and ancillary lines of coverage more efficiently, directly within their existing systems. Powered by carefully sourced carrier-direct pricing from over 500 benefits insurers, brokers can leverage Zywave's unrivaled dataset to quickly and accurately quote over 55,000 fully funded and level-funded medical, dental and vision plans with their existing census or enrollment data.
Previously available, the Content API pushes Zywave's industry-leading content directly into our customers' client portals. It includes over 10,000 pieces of attorney-backed content created by our team of industry experts, on topics including compliance, risk management, human resources, wellness, and more.
The forthcoming Benchmark Analysis API delivers the data insurers and commercial brokers need to enhance their benchmarking and loss analysis capabilities. Powered by Zywave's Loss Insight dataset, the Benchmark Analysis API includes Cyber, D&O, EPLI, and Casualty loss data on over one million high-severity losses, valued at more than $10 trillion.
With Zywave's extensive portfolio of API solutions, its customers will increase efficiency, optimize their workflows, and drive strategic growth.
As API technology and API-enabled partners increasingly become key insurtech investments, Zywave will continue to lead the market with a philosophy of open architecture and a focus on strategic data partnerships. To learn more about Zywave's industry-leading solutions, visit www.zywave.com.
About Zywave
Zywave leads the insurtech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions. Zywave's all-in-one platform provides customizable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals—their own Modern RevOps Machine. More than 15,000 insurers, agencies and brokerages worldwide—including all of the top 100 U.S. insurance brokerages—use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management and safety. Additional information can be found at www.zywave.com.
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Risk Management, Life Insurance
Businesswire | July 04, 2023
Nassau Financial Group, L.P. (“Nassau”) today announced that its subsidiary, Nassau Life Insurance Company (“NNY”), has completed the acquisition of Delaware Life Insurance Company of New York (“DLNY”) from Delaware Life Insurance Company (“Delaware Life”), a Group 1001 company.
NNY and DLNY are New York-domiciled life insurance companies, and Nassau plans to merge DLNY into NNY.
“It has been our pleasure to work with the team at Group 1001 and Delaware Life, enabling the sale of their non-strategic business line," said Phil Gass, Chief Executive Officer of Nassau. “As Nassau’s fourth insurance acquisition, the closing of this transaction marks yet another milestone as we continue to expand our New York presence. We look forward to welcoming the DLNY policyholders to Nassau.”
"We have worked closely with Nassau Financial Group to ensure a smooth transition for our policyholders,'' said Dan Towriss, CEO and President of Group 1001, the parent company of Delaware Life. "Our highest priority has been to ensure that this change is as seamless as possible."
DLNY is a provider of fixed annuities, variable annuities, and life insurance products with approximately 16,000 policies in force and $1.6 billion in assets as of March 31, 2023. The company does not have employees, and its business was managed as part of Delaware Life.
Sidley Austin LLP served as legal advisor to Nassau, and Willkie Farr & Gallagher LLP served as legal advisor to Delaware Life.
About Nassau Financial Group
Based in Hartford, Connecticut, Nassau Financial Group is a growth focused and digitally enabled financial services company with three distinct and closely connected businesses: insurance, reinsurance, and asset management. Nassau was founded in 2015 and, adjusted for the DLNY acquisition, has approximately $24 billion in assets, $1.3 billion in total adjusted capital, and 400,000 policyholders as of March 31, 2023. For more information, visit nfg.com.
About Group 1001
Group 1001 Insurance Holdings, LLC (“Group 1001”) is a technology-driven financial services company with a mission to empower customers, employees, and communities by making innovative products accessible to everyone. Group 1001 strives to demystify how insurance and annuity products are purchased today by leveraging technology to provide intuitive financial solutions for all Americans. As part of its mission, Group 1001 invests in strategic partnerships to connect with and transform communities through education and sports. As of March 31, 2023, Group 1001 had combined assets under management of approximately $60.1 billion and comprises the following brands: Delaware Life, Gainbridge®, Clear Spring Health, Clear Spring Property and Casualty Group, and Clear Spring Life. For more information about Group 1001, visit group1001.com. For more information about Delaware Life, visit delawarelife.com.
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