Hong Kong Insurance Authority hosts Belt and Road forum

Hong Kong Insurance | September 11, 2019

The Insurance Authority (IA) of Hong Kong has hosted a forum highlighting the importance of risk management in projects under Beijing’s Belt and Road Initiative (BRI). The forum, which was held on September 11 during the 2019 Belt and Road Summit at the Hong Kong Convention and Exhibition Centre, showcased how Hong Kong made a name for itself as a re/insurance hub and risk management centre for BRI projects, a statement from the regulator said. Attendees included a panel of experts from the re/insurance, captive insurance, banking and risk management sectors. They discussed how insurance and project finance are interlinked and are vital to the commercial viability of enterprises, especially state-owned enterprises (SOEs), investing in BRI projects.

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Founded in 2012, Heritage Insurance had a distinct DNA… identifying opportunities, assessing fit, and then making quick decisions. As a start-up, Heritage Insurance realized that it required technology that could support its appetite for growth and efficiency. Heritage required a solution that would give them the full spectrum of insurance functionality, beginning to end, yet also be deployed on the Cloud.


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INSURANCE TECHNOLOGY

PatientBond Helps Falck USA Significantly Boost Patient Payments and Insurance Reimbursements

Patientbond | March 21, 2022

PatientBond, the leading consumer science-driven patient engagement SaaS provider, announces it is working with Falck USA, to recover missed patient payments and insurance reimbursement. Falck USA is one of the largest private providers of 24-hour ambulance transport and 911 response services in the United States, offering both basic and advanced life support. One challenge Falck USA faces is that many ambulance trips are not reimbursed by health insurance, because crisis situations make it difficult to obtain the information necessary to file an insurance claim or collect from a patient. PatientBond designed and executed an SMS/text message based payment reminder process for Falck USA to accelerate patient payments while reducing outstanding balances and collection costs. Patients receive a set of reminder messages over the course of 31 days or until full payment is received. In the first ten months of automating digital patient engagement through PatientBond, Falck USA realized several million dollars in patient payments and insurance reimbursements that might have otherwise gone unpaid. The effort has yielded a 75-to-1 Return on Investment for Falck USA. Implementing mobile engagement in partnership with PatientBond last year was one of the best decisions I made, The benefits reaped from this have included insurance discoveries, accelerated patient payments, and bad debt reduction. We are looking forward to building off these results and continuing this journey with PatientBond into 2022." Kevin Don, Executive Director, Global Business Services for Falck USA. PatientBond conducts an extensive amount of market research on healthcare consumer motivations and communication preferences. We design our communications to enhance the likelihood of desired behavior activation, which in this case is paying one's bill through a simple patient payment platform." Justin Dearborn, CEO of PatientBond. About PatientBond PatientBond was founded by leaders in digital health, consumer engagement and consumer product executives from P&G who realized that the rise of consumerism in healthcare means that providers and other healthcare stakeholders must take a "digital first" approach to building loyal patient relationships. PatientBond's mission is to leverage Healthcare Consumer Insights and Innovative Technology Solutions to help its clients build a tighter bond with their patients and members to improve health outcomes, increase revenue and reduce costs. PatientBond is growing rapidly, as recognized by Inc 5000 and Financial Times. PatientBond is a portfolio company of First Trust Capital Partners. About Falck USA Falck USA is a wholly owned subsidiary, that provides 24-hour ambulance transport and 9-1-1 response services. It provides basic life support and Advanced life support services in the United States. Falck currently provides ambulance services to 4 states in the US and operates approximately 400 US ambulances and employs more than 2000 American emergency response professionals.

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HEALTH INSURANCE

HOMETOWN HEALTH ENTERS THE AFFORDABLE CARE ACT MARKETPLACE WITH SOFTHEON'S ENROLLMENT AND BILLING SOLUTIONS

Hometown Health | December 20, 2021

Nevada's largest not-for-profit health insurance company, Hometown Health, has entered the Affordable Care Act (ACA) marketplace and has expanded their health plan offerings through a partnership with Softheon, a leading cloud-based health insurance exchange and service provider. Softheon's innovative platform is helping bring quality health care to Nevada residents enrolling in Hometown Health insurance through Nevada Health Link. "Softheon's expert knowledge of the ACA marketplace coupled with their leading enrollment and billing technology has made them the perfect partner during Hometown Health's first open enrollment period on the exchange, Today, more than 100,000 people in Nevada choose Hometown Health for their insurance needs. Thanks to Softheon, we look forward to expanding insurance coverage options, in a way that is simple and convenient, to our friends and families who use Nevada Health Link." -David Hansen, Hometown Health CEO. Since the beginning of the 2021 open enrollment period, over 800 new members have seamlessly enrolled in Hometown Health's insurance thanks to Softheon's cutting-edge software. The partnership with Softheon will improve member enrollment, billing and communications, enabling Hometown Health to remain focused on their core mission of providing excellent healthcare to Nevada residents. As the health insurance division of Renown Health, northern Nevada's leading healthcare provider, Hometown Health offers members competitive rates and the largest network of providers in the region. Renown Health provides advanced medical services including Renown Regional Medical Center, an 808-bed full service regional hospital, Renown South Meadows Medical Center, a 76-bed acute care community hospital, Renown Children's Hospital, the region's only children's hospital with 83 beds, and Renown Rehabilitation Hospital, a 62-bed rehabilitation hospital. These facilities provide quality healthcare for Renown's primary service area, Washoe County and the secondary service areas of northern Nevada and northern California. Renown Health has more than 7,000 employees and serves northern Nevada, Lake Tahoe and northeast California with a total population in excess of 2 million. In addition to hospitals, Renown also has 110 medical group practice sites, urgent care and outpatient imaging sites. Renown Health and Hometown Health offer advanced care for patients and embrace their role in improving the health and well-being of the people and communities. "The continued growth of the Affordable Care Act marketplace is welcome news for consumers who are seeking more options for accessing health coverage, We are excited to partner with Hometown Health on their entrance into the ACA marketplace to create seamless experiences for their members and connect more individuals in Nevada with quality health care." -Eugene Sayan, CEO and founder of Softheon. Along with improving member enrollment, billing and communications, Softheon helps Hometown Health continue to ensure accuracy through monthly Advanced Premium Tax Credits premium reconciliation. The turnkey solution provided by Softheon has guided Hometown Health in handling all regulatory and operational requirements required of insurers in the ACA marketplace. The partnership has given Hometown Health the opportunity for expanded reach while making a bigger impact on communities across the state. About Softheon Founded in 2000, Softheon's Software-as-a-Service (SaaS) and Business Process-as-a-Service (BPaaS) solutions solve complex challenges for health plans and government health agencies. Currently, Softheon's solutions serve 8 State agencies and over 90 health plans. Issuers and consumers utilizing Medicaid, Medicare, and the ACA Marketplace benefit from Softheon's innovative technology that reduces administrative overhead and enhances user-experiences. Softheon is an Agent, Broker, and Merchant of Record that facilitates health insurance enrollment, billing, and renewal. About Hometown Health Established in 1988, Hometown Health is the insurance division of Renown Health and is Northern Nevada's largest local, not-for-profit health insurance company. Providing wide-ranging medical coverage and great service to members, Hometown Health represents a philosophy of health care that emphasizes active partnerships between members and physicians.

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CORE INSURANCE

Brightway Insurance is the only insurance agency franchisor named to a listing of the smartest-growing franchises in the country by Franchise Times

Brightway Insurance | January 25, 2022

Brightway Insurance, a national insurance agency franchisor, is the only insurance franchisor and one of only 40 brands Franchise Times recognized on its eighth annual Fast and Serious list of the smartest-growing franchises in the U.S. Brightway ranks No. 23 on the list. The list is derived using a proprietary 10-point formula that includes financial results over the past three years. Click here to review Brightway's profile on Franchise Times' website. "The financial results that put us on this list are the result of the investments we make in empowering our franchisees to reach their potential. They chose Brightway because of the set of tools they can leverage to help people in their communities while building their own business for themselves and their families," - Mark Cantin, Brightway's President and CEO. Brightway's customer service, back-office support and wide variety of carrier partners enable Brightway Agents to ensure their customers are properly covered and cared for while they build their businesses. In traditional agencies, countless hours are spent servicing existing customers' needs. Brightway handles that work on behalf of its agents, empowering them to focus on new policy sales while building a residual income stream that pays every time policies renew. This results in unlimited earning potential in a recession- and pandemic-proof industry. Regardless of background, Brightway's team of experts can help anyone be successful in insurance. In fact, half of Brightway's largest Agencies are owned by people with no insurance background; their average agency book size is $18.3 million. About Brightway Insurance Brightway Insurance is a national property/casualty insurance distribution company with nearly $900 million in annualized written premium, making it one of the largest Personal Lines agencies in the U.S. Brightway's focus is on building unparalleled tools that empower its franchisees to help people in their communities understand and value insurance while reaching their potential in business. Brightway got its start in 2008 and has since grown to 1,200 people in 316 offices across 29 states serving customers in all 50 states.

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INSURANCE TECHNOLOGY

Integrity Expands Retail Insurance Presence by Partnering with The Health Insurance Place

Integrity | March 15, 2022

Integrity Marketing Group, LLC ("Integrity"), an omnichannel insurtech leader in life, health and wealth solutions, today announced it has acquired The Health Insurance Place, an independent marketing organization ("IMO") based in Johnstown, Pennsylvania. As part of the acquisition, Joe Fortunato, President of The Health Insurance Place, will become a Managing Partner in Integrity. Financial terms of the transaction were not disclosed. Fortunato began selling health insurance more than four decades ago as an individual producer before creating The Health Insurance Place in 1979. Today, his growing network of agents offers life, health as well as annuities. In addition, Fortunato pioneered retail health insurance walk-in locations in his region, staffed by knowledgeable professionals ready to answer questions and find solutions. Recognizing the complexity and constant fluctuation of the industry, Fortunato has maintained a welcoming environment within the centers to help consumers understand and select the right products for their needs and budget. Though Joe has been in the insurance business for 40 years, The Health Insurance Place still displays the energy of a start-up — the entire team is incredibly inspiring to be around, Integrity offers The Health Insurance Place the benefits of a large organization while keeping the innovative spirit and dedication to service that has always been their hallmark. Joe and his team have found enormous success by serving clients where and when they need it. Integrity shares this commitment to making the insurance process more convenient and accessible for everyone, as evidenced by our powerful technology solutions. By tapping into Integrity's end-to-end platform, The Health Insurance Place is positioned for success for years to come, and we're thrilled to welcome them to the team." Bryan W. Adams, Co-Founder and CEO of Integrity. We recognized early on that we could simplify the often-overwhelming insurance process for clients by focusing heavily on service, Integrity is all about keeping insurance streamlined and accessible by creating technology-driven solutions for agents and consumers. Their focus on service extends beyond insurtech to include wealth management and advisory services, which offer new avenues for our team to explore and more ways to help our clients. Integrity will help us further refine what we already do well and enhance the service we provide in the process. I can't wait for this next era of growth for The Health Insurance Place." Joe Fortunato, President of The Health Insurance Place. The Health Insurance Place will add its expertise to Integrity's increasingly broad and diverse network of partners, a peer group of leaders who develop and improve insurance and financial service processes. These forward-thinking companies collaborate to provide innovative solutions that better protect the life, health and wealth of all Americans. Integrity is shaping the future of the industry by creating insurtech systems that improve the experience for all stakeholders. These resources, available exclusively through Integrity's proprietary platform, include MedicareCENTER, customer relationship management systems, quoting and enrollment solutions, and access to a world-class advertising and marketing firm. Integrity will help The Health Insurance Place scale and become more efficient by centralizing business administration functions. Its supportive infrastructure of shared services includes Technology & Innovation, People & Culture, finance, legal and compliance. About Integrity Marketing Group Integrity, headquartered in Dallas, Texas, is an omnichannel insurtech leader of life and health insurance, and provider of innovative solutions for wealth management and retirement planning. Through its partner network, Integrity helps millions of Americans protect their life, health and wealth with a commitment to meet them wherever they are — in person, over the phone and online. Integrity's cutting-edge technology helps streamline the insurance and financial planning experience for all stakeholders. In addition, Integrity develops products with carrier partners and markets them through its distribution network of agencies, brokerages and RIAs throughout the nation. Integrity's nearly 5,500 employees work with more than 420,000 agents and advisors who serve over 10 million clients annually. In 2021, Integrity helped carriers place more than $7 billion in new sales and oversaw more than $20 billion of assets under management and advisement through its RIA and broker-dealer platforms. About The Health Insurance Place The Health Insurance Place is a leading independent marketing organization (IMO) that offers convenient retail walk-in centers for health insurance, life insurance, and annuities. The agency's insurance experts are available to answer questions and provide options that best suit client needs. With a growing network of brokers covering Pennsylvania in full, The Health Insurance Place supports hundreds of agents who currently serve over 23,000 insured members. The company remains focused on servicing two primary customer segments — independent agents and the individual clients they support.

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Spotlight

Founded in 2012, Heritage Insurance had a distinct DNA… identifying opportunities, assessing fit, and then making quick decisions. As a start-up, Heritage Insurance realized that it required technology that could support its appetite for growth and efficiency. Heritage required a solution that would give them the full spectrum of insurance functionality, beginning to end, yet also be deployed on the Cloud.

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