Posts Tagged
USA
Zenefits pivots, expands partner ecosystem with partnership program and new product
Zenefits in October 2017 announced a major change in its strategy. It now intends to become the technology backbone for the employee benefits industry by linking carriers, brokers, companies, and employees with its Zenefits Certified Broker Partner Program and Zenefits Ben Connect. This will allow Zenefits to cooperate with brokers rather than compete against them. The Zenefits Broker Partner Program was launched with the announcement of a partnership with
Healthcare costs top obstacle to retirement security – US
U.S. life insurance company Northwestern Mutual (NM) has released its 2017 Planning & Progress Study, which pinpoints healthcare costs as the biggest obstacle to attaining financial security in retirement for Americans. In fact, there has been a significant increase in the number of Americans citing healthcare costs as their chief concerns (from 45% in 2016 to 58% in 2017). Lack of savings (44%) and uncertainty over Social Security (31%)
Sun Life partners with Pareto to enter U.S. stop-loss captives market
Sun Life Financial and Pareto Captive Services in October 2017 announced a new stop-loss group captive solution, Legend Re, which will be available in the U.S. for policies effective January 1, 2018. The initiative is designed to reduce claims volatility for small and medium self-funded employers or fully-insured employers transitioning to self-funding in order to realize cost savings. Employers in a group captive typically have under 500 employees, are
MSH enhancing International Mobility Benefits offerings in U.S.
MSH International, citing favorable U.S. state regulations allowing self insurance for groups with as few as ten plan members, along with the growth of the medical stop-loss business, in October 2017 announced a new stop-loss product for self-insured expatriate and third-country national (TCN) customers that includes medical benefits as well as life and disability options. President and CEO Philippe de Dreuzy said “Based on my 25 years’ experience I
Newly signed covered agreement helps US companies operate in EU
The United States and the European Union in September 2017 signed an agreement that will help U.S. insurers and reinsurers operate in the E.U. by ending Solvency II (S2) regulatory barriers. The American Insurance Association said the agreement provides mutual acknowledgement of prudential supervision in both the E.U. and the United States, and will eliminate barriers that U.S. insurers have faced since S2 was implemented. For reinsurance, the agreement
Arthur J. Gallagher acquires DiBrina
Arthur J. Gallagher in October 2017 acquired DiBrina Group, a Sudbury, Ontario, Canada HR insurance firm. The terms of the sale were not disclosed. Founded by Michael DiBrina in 1989 and incorporated in 1997, DiBrina Group provides human resources, employee benefits, wealth management, and life insurance consulting and brokerage services. The team, which includes Mr. DiBrina, as well as Tim Lychy, Diego Favero, Aurel Malo, Ehren Baldauf, Jeff St.
Steve Paraboschi appointed Executive Vice President to International Medical Group
International medical and travel insurance company, International Medical Group (IMG), in September 2017 announced the appointment of Steve Paraboschi as the company’s executive vice president. Paraboschi will be responsible for P&L across the company and support of IMG’s international insurance distribution and operations. IMG was founded in 1990 and offers a full line of international medical insurance products, as well as travel insurance plans, medical management services and 24/7
MSH International acquires Imagine Financial and Intrepid 24/7
MSH International, a wholly-owned subsidiary of Paris-based broker SIACI SAINT HONORE Group and supplier of expatriate insurance services worldwide, in September 2017 announced the acquisition of Imagine Financial and its travel medical assistance group, Intrepid 24/7. Both Imagine Financial and Intrepid 24/7 are housed under the umbrella of Ingle International, a provider of plug and play solutions that drive revenue and enhance customer engagement for the insurance, healthcare, special
Americans Discouraged by Retirement Outlook – Survey
The Nationwide Retirement Institute Consumer Social Security PR Study, released in August 2017 and conducted by Harris Poll, reveals a discouraging outlook for many Americans when it comes to retirement and Social Security benefits. According to the survey, only 21 percent of future retirees say life in retirement will be better, and 28 percent of recent retirees say life is worse in retirement. Retirees who say life is worse
US uninsured numbers expected to decrease by 2021 while Medicare enrollments will rise
The U.S. uninsured population is expected to decrease to 26.9 million individuals in 2021, according to a report recently released by Freedonia Focus Reports and titled Healthcare Insurance: United States. Factors contributing to the decline include continued improvements in the labor market, which helps individuals gain private coverage; uninsured persons reaching the age of 65 and qualifying for Medicare; continued gains in Medicaid enrollment; and some gains in the
APA Survey Reveals Most Americans Use Self-Service Pay Portals
According to the 2017 “Getting Paid In America” survey conducted by the American Payroll Association, 82 percent of employees across America have access to a self-service portal where they have the ability to view their pay and benefits information at their convenience. Most employers are also happy to use these portals, whereby the employee experience becomes more personalized with access to scheduling, time tracking, pay and other information at
Tokio Marine HCC Acquires US Medical Stop-Loss Writer From AIG
Tokio Marine HCC in October 2017 acquired the medical stop-loss operations of AIG through its wholly owned U.S. subsidiary, HCC Life. The deal includes renewal rights, inforce business and employees. The acquired operations produce gross written premium of approximately $350 million and increase Tokio Marine HCC’s medical stop-loss business to over $1.3 billion of premium, making it one of the top three largest players in the medical stop-loss industry,
Hub International Appoints Marc Cohen as President and CEO
Global insurance brokerage Hub International (HUB) in September 2017 announced that it named Marc Cohen, currently President of HUB, as President and Chief Executive Officer, effective January 1, 2018. He will also be a member of the Board of Directors. Cohen will continue to report to Martin P. Hughes, who will continue to serve as Executive Chairman. Cohen will be responsible for the financial strategy, including directing organic sales
UnitedHealth acquires Advisory Board’s consulting operations
UnitedHealth in August 2017 acquired Advisory Board’s health-care analytics, research and consulting operations for about $1.3 billion including debt. The merger is part of a two-way deal that will also see private equity firm Vista Equity Partners purchase Advisory Board’s education arm for $1.55 billion. Advisory Board will become a part of UnitedHealth’s Optum pharmacy-benefit and health-care services unit. That business has been a major source of revenue growth
Are HR departments falling short with open enrollments?
HR software provider for mid-sized companies Namely has released the results of its open enrollment survey, which identifies what is most important to U.S. employees when it comes to benefits. Findings indicate that 36% of employees rate their HR departments with a “C” or lower when it comes to open enrollment. While 57% of respondents say that their employer has prepared them “pretty well,” only 27% give them an
Generali Global Assistance U.S. Releases Data Protection White Paper
Data breaches and cyber security are a significant concern with U.S. businesses expecting to see an all-time high of nearly 1,500 reported data breaches in 2017. Business owners need to be more vigilant than ever in order to avoid these near-certain attacks, and to protect their employees’ and customers’ personally identifiable information (PII). Generali Global Assistance, in cooperation with the Identity Theft Resources Center (ITRC), in August 2017 released
GeoBlue appoints Linda Cote as VP, Corporate Sales
GeoBlue, the international health insurance provider of the Blue Cross and Blue Shield Association, in August 2017 announced the appointment of Linda Cote to Vice President, Corporate Sales and Account Management. Linda Cote brings 13 years of international experience from Aetna International, where she held sales and leadership positions within the organization. Prior to her tenure at Aetna, Linda spent 14 years within the domestic health insurance market, where
GeoBlue appoints Jill Milliken as VP, Scholastic Sales
GeoBlue, the international health insurance provider of the Blue Cross and Blue Shield Association, in August 2017 announced the appointment of Jill Milliken to Vice President of Scholastic Sales. The Scholastic business unit for GeoBlue provides educational institutions the international healthcare and assistance services their schools need for both study outside of the U.S. and inbound programs. Jill Milliken comes to GeoBlue from Generali Global Assistance where she was Vice
UnitedHealth Group’s President David Wichmann Becomes CEO
David Wichmann, president of UnitedHealth Group, in September 2017 succeeds Stephen Hemsley as the company’s chief executive officer and becomes a director of the company. In his previous position, Wichmann oversaw UnitedHealthcare’s domestic and international businesses; he also served as group chief financial officer. Earlier, he held positions as president of UnitedHealthcare; president and chief executive officer of Specialized Care Services (now OptumHealth); and senior vice president, corporate development.
Woman Banned from US: A Cautionary Tale For Travelers And Global HR Staff
A woman from British Columbia, Canada, was issued a lifetime ban at the U.S. border after U.S. Customs & Border Protection (CBP) officials found an email conversation with her doctor on her smartphone that indicated she had survived a fentanyl overdose. Fentanyl is a powerful opioid pain medication that sometimes is illicitly manufactured and used as a recreational drug, causing many overdose deaths. The 28-year-old woman did not have
Genomic Testing: Wamberg Genomic Advisors Partners with Global Healthcare Resources
U.S.-based Wamberg Genomic Advisors and Global Healthcare Resources in July 2017 announced a new partnership designed to bring genomic testing to insurance professionals and employer groups. This partnership proposes to educate insurance professionals about the potential of genetic testing and integrating these tests into employee benefit packages, thereby creating a healthier workforce that is engaged in, and informed of, their health. Advanced cancer genomic profiling uses techniques such as
Europe Largest Market in Global Corporate Travel Insurance
A July 2017 report by Research Nester indicates that the corporate travel insurance market expects to see robust growth from 2017 to 2024 at a rate of 8.6% per year (CAGR – Compound Average Growth Rate) over the forecast period, thanks to an increase in business travel. The European region accounts for the largest market share in the global corporate travel insurance market, followed by Asia-Pacific, while Europe is
AJ Gallagher acquires Ballard Benefit Works
Arthur J. Gallagher in August 2017 announced the acquisition of Michigan, U.S.A.-based Ballard Benefit Works, a boutique employee benefit and health care finance brokerage, consulting and insurance agency. Ballard Benefit Works, founded in 2009 by Justin Spewock, serves public, private and not-for-profit clients primarily throughout , Washington, D.C. and Florida. It specializes in the development of alternative models for healthcare delivery. Ballard will operate under the direction of John
Americans Still Feeling Financial Sting Ten Years After 2007 Crisis
U.S. insurer Country Financial in July 2017 published its tenth Country Financial Security Index survey. Ten years after the beginning of the 2007 financial crisis known as the Great Recession, nearly 30% of Americans believe they have yet to recover financially or that they never will, despite signals from the Federal Reserve that the U.S. economy is growing. The survey reveals that this is due in large part to
Challenges for US healthcare providers – Ernst & Young Report
U.S. healthcare organizations are finding it increasingly difficult to transition from fee-for-service to fee-for-value care because of competing priorities and uncertainty over regulations according to a report released in July 2017 by Ernst & Young’s Health Advisory Services. The survey queried 700 U.S. healthcare professionals. Among the findings are four key factors that challenge the shift to value-driven care: System inefficiencies that escalate the cost of care delivery Clinical
U.S. Healthcare Industry Challenged with Managing Regulatory, Compliance Risk
Managing regulatory and compliance risk in the face of constantly evolving rules and guidelines is a significant challenge for both the payers and the providers who make up the United States’ healthcare industry, creating a market need for systems that can consistently support regulatory, reimbursement and compliance professionals. A June 2017 white paper from management consulting firm Frost & Sullivan, The Increasing Challenge of Managing Regulatory and Compliance Risk,
Workers making gains in juggling work and home life – Survey
Workers are getting better at balancing work and home life, according to a Robert Half Management Resources survey published in June 2017 that revealed that the majority of professionals (52 percent) believe their work-life balance has improved from three years ago. Employers and employees alike are emphasizing work-life balance, and managers contribute by giving their teams more freedom over where and when they work, if possible, and providing greater