Life & Specialty Ventures and Cambia Health Solutions Begin Their New Strategic Collaboration

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.

Recommended AI News: Infrastructure Capital Advisors Launches ICAP, New Actively Managed Equity Income ETF

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.

Recommended AI News: 5WPR Expands Consumer Retail Practice Area

“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.

Recommended AI News: NetworkTigers Meraki Network Equipment End-Of-Year Budget Spend Opportunity

[To share your insights with us, please write to sghosh@martechseries.com]