Connecture, Inc. Acquires Insurint to Transform Sales Automation for the Health Insurance Industry

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Acquisition creates largest end-to-end sales automation provider in the health insurance market

Connecture, Inc. announced today that it has acquired Insurint in a bold step towards transforming health insurance distribution. This combination creates the largest end-to-end sales automation provider in the health insurance market by joining Insurint, a leader in broker sales automation with Connecture, the leader in health insurance carrier sales automation.    

The strategic combination broadens Connecture’s suite of services that helps payers attract and maintain the growing number of consumers buying individual insurance plans through the broker channel. As the individual health insurance market continues to gain momentum, the company will offer health insurers and brokers a full range of options through a multi-carrier channel. Connecture comes to the relationship with over 80 health insurer customers who reach over 50,000 insurance agents. Together, the companies serve more than half of the nation’s leading insurance carriers including many Blue Cross Blue Shield carriers, WellPoint, Kaiser, United Healthcare, Humana One, and Assurant Health.

Through combining Connecture’s eApplication health insurer sales automation platform with Insurint’s multi-carrier quoting broker platform, the company will offer technology that fully automates the end-to-end quoting, application, and enrollment processes. The combination will offer straight-through processing from lead management to quoting and application through to enrollment and post-sale management, with a one-of-a-kind software solution specifically designed to meet the growing demands of the health insurance market. Benefits will include the opportunity for brokers to sell more business and reduce drop-off; true end-to-end automation for intermediaries, agents, and aggregators; and reduced frustration, friction, and cost in the marketplace.

“In this post-health care reform environment, it is critical that technology is leveraged to take cost and friction out of the membership acquisition and retention process. Public and private aggregators and brokers will continue to play a large role in the health insurance market if they leverage the benefits that technology has to offer. Our combined solution will enable those distribution channels to leverage such benefits,” explained Dan Maynard, Chief Executive Officer of Connecture. “We are excited to join forces with Insurint to bring this technology to market.”

Added Connecture director David Jones, Jr., Chairman of Chrysalis Ventures, “I’m excited about Connecture’s opportunity to help insurers lower costs for their members and customers. This acquisition will extend the reach and impact of the company’s productivity-enhancing solutions." In addition to Chrysalis, Connecture’s other institutional investors include SSM Ventures, Total Technology Ventures, and LiveOak Equity.

Further detail about this acquisition will be announced at Connecture’s upcoming User Conference on May 12-13, 2010.

About Connecture, Inc.
Connecture is solely focused on delivering integrated web-based sales, service and process automation solutions to the health insurance industry. Connecture has automated elements of the insurance sales and service process for over 80 health plans and insurers, and its InsureConnect suite of products currently supports the sales and servicing of 11 of the 20 largest health plans and insurers in the country. Its industry-proven solutions encompass the entire spectrum of multi-channel insurance sales and services for small group, large group, and individual markets. Connecture offers an end-to-end business process transaction platform consisting of focused modular applications that fully integrate with existing systems. Connecture’s solutions have proven to deliver increased sales, enhanced broker loyalty, improved back-office efficiencies, lower customer acquisition costs, and decrease overall operating expenses. For more information, call Meg Riddle at 262.408.3865 or visit the Connecture website at http://www.connecture.com.

About Insurint
Insurint provides a proprietary, professional-grade, web-based agent quote engine portal that aggregates accurate real-time quotes from multiple highly-rated health insurance carriers, life insurance carriers and carriers of related insurance products. Insurint's user-friendly platform enables agents to view and share with proposed insureds detailed comparisons of multiple insurance products, policy brochures and other useful information instantly, resulting in a highly competitive application processing platform for insurance agents and consumers. More information can be found at http://www.insurint.com.

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Meg Riddle
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