Life & Specialty Ventures and Cambia Health Solutions begin their new strategic collaboration
LITTLE ROCK, Ark., Jan. 3, 2022 /PRNewswire/ -- Life & Specialty Ventures and Cambia Health Solutions have finalized the details of a strategic collaboration to advance the medical and dental care and financial well-being of people and families in Oregon, Washington, Utah, and Idaho. Through the partnership, Cambia's LifeMap ancillary insurance business has become part of Life & Specialty Ventures' USAble Life ancillary insurance business. Under the new partnership, USAble Life will begin management of all dental products for Cambia's affiliated health plans. Cambia has gained an ownership position and Board representation in Life & Specialty Ventures.
Both LifeMap and USAble Life have successful, multi-decade histories serving Blue Cross and Blue Shield plan members. The partnership brings substantial expertise and scale together in an organization that will support 1.7 million ancillary members and 1.5 million dental members across 17 Blue Cross and Blue Shield Association plans.
Jim Casey, Life & Specialty Ventures chief executive officer, notes, "This partnership represents approximately 30% growth for USAble Life and an opportunity to expand the company's ability to make a meaningful difference in the lives of more members."
USAble employs approximately 500 people and operates two business hubs — corporate headquarters in Little Rock, Ark., and the second hub in Jacksonville, Fla. It also has offices in Nashville, Tenn., Birmingham, Ala., and Honolulu, Hawaii. USAble now adds LifeMap's more than 100 employees, primarily based in Portland, Ore.
"The teammates in our new West Coast (Portland, Ore.) hub bring additional capabilities and capacity that increase our ability to serve our customers," says Rich Macy, chief operating officer of Life & Specialty Ventures.
USAble Life will introduce its products and capabilities to the LifeMap market during 2022, including new and innovative products currently unavailable in LifeMap's markets. These products will continue to be sold and serviced by local teams based in the Pacific Northwest. For dental products, USAble Life will manage product development, underlying dental networks, underwriting, actuarial, marketing, sales support, and other responsibilities. The products will retain the brands of the affiliated health plans in Oregon, Washington, Utah, and Idaho.
More information on all the companies is available at cambiahealth.com, lifemapco.com, and usablelife.com/power-of-partnership.
About Life & Specialty Ventures LLC
Life & Specialty Ventures, headquartered in Little Rock, Ark., works with our health plan partners to help provide a broad suite of benefits that help improve the health and well-being of members. Our supplemental, life, and disability products are underwritten by USAble Life and co-branded with our partners. Through our dental partnership model, we manage the dental business while leveraging our partners' health brands. For more information, please visit usablelife.com/power-of-partnership.
About Cambia Health Solutions
Cambia Health Solutions, headquartered in Portland, Ore., is dedicated to transforming health care. We put people at the heart of everything we do as we work to make the health care system more economically sustainable and efficient for people and their families. Our company reaches millions of Americans nationwide, including more than 3.3 million people served by our regional health plans. To learn more about us, visit cambiahealth.com or Twitter.com/Cambia.
About USAble Life
USAble Life brings the power of partnership to our health plan owners and partners, businesses and their employees, and individual customers. We are strategically positioned to support our partners by providing products and services that complement and enhance their core health insurance offerings. USAble Life is a top 10 supplemental, life, and disability and the top 3 dental carrier in the markets we serve. For more information, please visit usablelife.com/power-of-partnership.
SOURCE Life & Specialty Ventures, LLC
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