Health Insurance Innovations, Inc. Provides Update on Medicare Sales Data
12 Décembre 2019 - 5:39PM
Health Insurance Innovations, Inc. (NASDAQ:HIIQ), a leading
cloud-based technology platform and distributor of affordable
health insurance, life insurance and supplemental products, today
announced preliminary results for the 2020 Medicare Annual Election
Period (AEP).
During the fourth quarter
through the December 7th end date of AEP, the company had submitted
application volume of approximately 47,000 policies, and over
57,000 policies since re-entering the Medicare space in June 2019.
Commenting on the Company’s Medicare results,
Gavin Southwell, President and Chief Executive Officer
of Health Insurance Innovations, Inc. said, “We are pleased by
the results we achieved during AEP, particularly given that we
entered the Medicare market from a standing start in June of this
year. We believe that our partial year Medicare results already
position us as a market leader in Medicare customer engagement and
enrollment. The investments we have made in media and digital
demand generation and our development of BPO and captive
distribution capabilities, further leveraged by our user-friendly
technology platforms, provide us with an opportunity to accelerate
our strategy of diversifying our product offering and leaning into
high growth insurance markets.”
Mr. Southwell continued, “I am especially
encouraged by our ability to capture consumer demand at a greater
level than anticipated, as measured by the inbound consumer call
volumes we experienced during AEP. This demand generation
capability, combined with the Company’s emerging capabilities in
digital channels, will support the opportunity for expansive growth
in our Medicare business as we work to gain scale and proficiency
in our in-house customer care and enrollment operations and expand
and improve our BPO and carrier arrangements.”
About Health Insurance Innovations, Inc.
(HIIQ)
HIIQ is a market leading cloud-based technology
platform and distributor of innovative health and life insurance
products that are affordable and meet the needs of consumers. HIIQ
helps develop insurance products through our relationships with
best-in-class insurance companies and markets them via its broad
distribution network of third-party licensed insurance agents
across the nation, its call center network and its unique online
capabilities. Additional information about HIIQ can be found at
HIIQ.com.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
statements other than historical fact, and may include statements
relating to goals, plans and projections regarding new markets,
products, services, growth strategies, anticipated trends in our
business and anticipated changes and developments in the United
States health insurance system and laws. Forward-looking statements
are based on HIIQ’s current assumptions, expectations and beliefs
are generally identifiable by use of words “may,” “might,” “will,”
“should,” “expects,” “plans,” “anticipates,” “believes,”
“estimates,” “predicts,” “potential” or “continue,” or similar
expressions and involve significant risks and uncertainties that
could cause actual results, developments and business decisions to
differ materially from those contemplated by these statements.
These risks and uncertainties include, among other things, our
ability to maintain relationships and develop new relationships
with health insurance carriers and distributors, our ability to
retain our members, the demand for products offered through our
platform, factors affecting growth in the Medicare market,
regulatory oversight and examinations of us and our carriers and
distributors, legal and regulatory compliance by our carriers and
distributors, the amount of commissions paid to us or changes in
health insurance plan pricing practices, competition, changes and
developments in the United States health insurance system and laws,
and HIIQ’s ability to adapt to them, the ability to maintain and
enhance our name recognition, difficulties arising from
acquisitions or other strategic transactions, and our ability to
build the necessary infrastructure and processes to maintain
effective controls over financial reporting. These and other risk
factors that could cause actual results to differ materially from
those expressed or implied in our forward-looking statements will
be discussed in HIIQ's Annual Report on Form 10-K filed with the
Securities and Exchange Commission (SEC) as well as other documents
that may be filed by HIIQ from time to time with the Securities and
Exchange Commission, which are available at www.sec.gov. Any
forward-looking statement made by us in this press release is based
only on information currently available to us and speaks only as of
the date on which it is made. You should not rely on any
forward-looking statement as representing our views in the future.
We undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
Contact:
Health Insurance Innovations,
Inc.: Michael
DeVries SVP
Finance (813)
906-5314 mdevries@hiiq.com
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