HealthPlan Services Announces Partnership with Beazley Accident & Health Insurance
Tampa, Fla. – February 2, 2011– HealthPlan Services Announces Partnership with Beazley Accident & Health Insurance
HealthPlan Services, (HPS), the nation’s leading technology and administrative services provider for the insurance and managed care markets, announced today that it has entered into a strategic partnership with Beazley Accident & Health Insurance to provide comprehensive business process services.
Under the agreement, HPS will provide a full range of services, including sales, case level underwriting, enrollment, billing, claims and member retention supporting Disability, Accident, Critical Illness and other products. Most notably, HPS will provide Beazley’s customers and agents with access to online enrollment as well as integration of multiple products for streamlined quoting and billing.
“We are confident that HPS is the right partner for Beazley,” said Paul Gulstrand, Head of Beazley’s U.S. Accident & Health Insurance. “We are excited to align with a world-class administrator that has a strong reputation with producers, solid credibility in the marketplace, broad expertise in the industry and a longstanding commitment to quality.”
Adds Jeff Bak, President and CEO, HPS: “Beazley is a growing company that prides itself on its responsiveness and taking a collaborative approach with its partners and producers. We are pleased it has selected HPS to help manage its expansion into all 50 states in the U.S. market. We are confident that our industry expertise, proven best practices and proprietary technologies and processes will enable Beazley to integrate into the group and voluntary markets rapidly and successfully.”
Beazley Accident & Health Insurance is a division of Beazley Insurance Company, Inc. (BICI), which writes approximately $1.75 billion in annual premiums and maintains policyholders’ surplus in excess of $400 million.
As an insurer and reinsurer, Beazley is nimble enough to help brokers and other intermediaries develop profitable business opportunities and stable enough to commit to long-term collaborations. It accomplishes this by focusing on custom solutions and gap protection products in the accident and health niches. These products have taken on new prominence in the wake of healthcare reform, which brings coverage to millions but at a high cost to employers. By focusing on gap coverage, Beazley offers employees valuable protection against life’s uncertainties and employers the means to foster loyalty by broadening benefit options.
About Beazley Accident & Health Insurance
Beazley Accident & Health Insurance offers custom solutions for a broad spectrum of risks. Our suite of gap protection products includes Critical Illness, Short Term Disability, Short Duration Disability, Personal Accident and Corporate AD&D/Business Travel Accident, as well as Reinsurance. Additional gap protection products are in development and will be launched later this year.
Beazley includes the issuing company of Beazley Insurance Company, Inc. (BICI), rated A by A.M. Best. Its parent company, Beazley Group, was established in 1986 as a specialist insurer and reinsurer. Headquartered in London, the company has operations in Europe, Asia, Australia and the U.S., and manages five Lloyd's of London syndicates — all rated A by A.M. Best. Beazley has decades of experience underwriting accident and health insurance and reinsurance, with extensive access to global risk partners.
Beazley Accident & Health Insurance is based in Minneapolis. For more information, visit www.beazley.com/accident&health.
About HealthPlan Holdings
Founded in 1970, HealthPlan Holdings, Inc. provides end-to-end sales, administration and technology solutions to the health care, ancillary and voluntary insurance markets. The company supports more than 25 insurance carriers that utilize its technology and service solutions to help grow and retain their members, and reduce their membership administrative costs in the individual and small business markets. The company currently supports more than 2 million members and thousands of small businesses, as well as some of the nation’s largest Taft-Hartley funds for unionized workers. Headquartered in Tampa, Fla., HealthPlan employs approximately 1,200 associates. For more information, visit www.healthplanholdings.com.
About Water Street
Water Street Healthcare Partners is a strategic private equity firm focused exclusively on healthcare. The firm has a strong record of building market-leading companies across key growth sectors in healthcare. It has partnered with some of the world’s leading healthcare companies on its investments including: Johnson & Johnson, Medtronic and Smith & Nephew. Water Street’s team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global healthcare businesses. The firm is headquartered in Chicago. For more information about Water Street, visit www.wshp.com.
Marketing Contact: Pamela Sullins, HealthPlan Services 813-289-1000 ext. 2392 psullins@healthplan.com
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