Profile: Health Insurance Innovations Inc (HIIQ.OQ)
19 Dec 2014
Health Insurance Innovations, Inc., incorporated on October 26, 2012, is a developer and administrator of Web-based individual health insurance plans and ancillary products. The Company’s Web-based technology platform allows for mass distribution of and online enrollment in its diverse portfolio of health insurance offerings. The health insurance products the Company develops are underwritten by insurance carrier companies and it assume no underwriting, insurance or reimbursement risk. The Company’s technology platform uses abbreviated online applications, some with health questionnaires, to provide an immediate accept or reject decision on applications for all products that the Company offer. Once an application is accepted, individuals can use its automated payment system to complete the enrollment process and obtain instant electronic access to their policy fulfillment documents, including the insurance policy, benefits schedule and identification cards. In March 2013, it announced the purchase of contract rights with TSG Agency, LLC. (TSG) and certain other assets. In July 2013, the Company acquired Secured Health and Life. In July 2014, Health Insurance Innovations Inc acquired HealthPocket, Inc. In August 2014, Health Insurance Innovations Inc acquired Fort-Worth based American Service Insurance Agency, LLC. (ASIA), a distributor of individual insurance programs.
The Company receives credit card and Automated Clearing House (ACH) payments directly from members at the time of sale. The Company designs and structures insurance products on behalf of insurance carrier companies market them to individuals through its network of distributors and manage member relations through its online member portal, which is available round the clock, seven days a week. The Company also offer guaranteed-issue hospital indemnity plans for individuals under the age of 65, which pay fixed cash benefits for covered procedures and services, and a range of ancillary products, such as pharmacy benefit cards, dental plans, vision plans and cancer/critical illness plans that are frequently purchased as supplements to short-term medical (STM) and hospital indemnity plans.
Health Insurance Innovations Inc
SUITE 201, 15438 N. FLORIDA AVEN
TAMPA FL 33613