Health Insurance Innovations, Inc. (NASDAQ:HIIQ), a leading
cloud-based technology platform and distributor of affordable
health insurance, life insurance and supplemental plans, today
announced that its Board of Directors will ask shareholders to
approve the election of two new independent director nominees,
Peggy B. Scott and Ellen M. Duffield, at the company’s annual
meeting of stockholders to be held on May 14, 2019.
Ms. Scott is an advisor to innovative health
care and technology companies and is a former executive with
CEO/CFO/Chief Strategy Officer experience spanning major health
insurers and providers in domestic and international markets,
including Latin American markets and financial services. Ms. Scott
served as Executive Vice President, Chief Operating Officer and
Chief Financial Officer of Blue Cross Blue Shield (BCBS) of
Louisiana and concurrently as Chief Strategy Officer, where she
oversaw rapid product expansion in diverse health insurance
products, including Affordable Care Act (ACA) and non-ACA plans,
Over-65, Group Health, Life and other ancillary and supplemental
products, and guided new risk-based delivery and payment models.
Ms. Scott also held senior operations and financial executive
positions in U.S. and International companies, including Novant
Health, Pan-American and General Health, where she led
transformations, growth strategies, and operations across 42 U.S.
states and seven Latin American countries, and was an office
Managing Partner with Deloitte. Ms. Scott is the Board Chair of
CLECO Corporate Holdings, LLC and served as its Interim Chief
Executive Officer.
Ms. Duffield is the Chief Operating Officer of
Gateway Health Plan, a nationally ranked managed care organization
serving Medicaid and Medicare populations. Ms. Duffield previously
served as the President and Chief Executive Officer of DST Health
Solutions (DST), a subsidiary of SS&C Inc., a full-service
business process outsourcer serving over 180 health plans,
integrated delivery networks and third-party administrators. Ms.
Duffield also served as President of Visiant Health Solutions, a
division of Blue Cross Blue Shield of Michigan, providing
cloud-based technology and automation solutions for Medicare,
Medicare Advantage, Medicaid and ACO programs. Ms. Duffield held
executive positions at CatamaranRx, now known as OptumRx, a
subsidiary of UnitedHealth Group, serving as Chief Compliance
Officer and Senior Vice President of Government Programs. Ms.
Duffield held executive positions at large health insurance plans
including Independence Blue Cross, UnitedHealth Group and Anthem,
with responsibilities for Medicare and Medicare Advantage plans,
Managed Care Organizations, Medicare Supplemental plans and
Medicare Part D operations.
“We are delighted to have nominated Ms. Scott and
Ms. Duffield to serve as directors, and we fully endorse their
election by our stockholders,” said Paul Gabos, Chairman of the
Board. “Peggy Scott brings to our Board deep executive leadership
experience in U.S. and international health care markets with
companies undergoing rapid growth and transformational market
changes. Ellen Duffield brings to our Board a broad range of
executive experience in health insurance and healthcare information
technology, including business development, compliance, government
programs, pharmacy and health plan operations. Peggy and Ellen are
each nationally recognized business leaders with successful records
of strategic transformation, business growth and execution of
diversification strategies centered on new products, operational
capabilities and compliant infrastructures.”
Gavin Southwell, Health Insurance Innovations’
President and CEO, added, “The addition of Peggy Scott and Ellen
Duffield to our Board of Directors will deepen and accelerate our
understanding of the over-65 markets, including Medicare Advantage,
Medicare supplemental and other ancillary insurance products, and
U.S. Spanish-speaking markets while helping strengthen our
regulatory compliance and customer satisfaction efforts. We are
fortunate to add such high-caliber individuals to our Board as the
company broadens its product portfolio and continues to drive
innovation in the design and delivery of affordable health and life
insurance products.”
In connection with the nominations of Ms. Scott and
Ms. Duffield, the size of HIIQ’s Board of Directors will increase
from seven members to eight members. HIIQ’s existing
directors will each be re-nominated for election to the Board of
Directors at the annual meeting of stockholders, other than Michael
Kosloske, who has declined to stand for reelection.
About Health Insurance Innovations,
Inc. (HIIQ)
Health Insurance Innovations, Inc. (HIIQ) is a
market leading cloud-based technology platform and distributor of
innovative health insurance products that are affordable and meet
the needs of health insurance plan 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 capability.
Additional information about HIIQ can be found at HIIQ.com.
HIIQ’s Consumer Division includes AgileHealthInsurance.com, a
website for researching, comparing and purchasing insurance
products online, and HealthPocket.com, a free website that
compares and ranks all health insurance plans and uses objective
data to publish unbiased health insurance market analyses and other
consumer advocacy research.
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, among other
things, 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 members on our platform, the demand for products
offered through our platform, state 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 are 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
Hershberger Chief Financial Officer (813) 397-1187
mhershberger@hiiq.com
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