LTCG and Assured Allies Form Strategic Alliance to Launch Solutions for Independent Aging and Wellness in the Long Term Care Insurance Industry
Largest Third-Party LTC Insurance Claims Payer Joins Forces with Leader in Successful Aging Innovation
EDEN PRAIRIE, Minn. & BOSTON
May 04, 2021 (BUSINESS WIRE) — LTCG, the leading insurance administration and claims solution provider for long term care (LTC) insurance, and Assured Allies, the leading company in evidence-based successful aging innovation, have entered into a strategic alliance to bring new end-to-end wellness and independent aging solutions to the LTC insurance industry.
The partnership combines the deep actuarial expertise, extensive claims data and insurer relationships forged from LTCG’s 25 years of long term care insurance management experience with Assured Allies’ ability to design and deliver targeted, evidence-based support for individuals. Assured Allies also employs an industry-leading approach to policyholder engagement, which creates a continuous feedback loop for iterative improvement.
“We know so much more about the aging process than we did twenty years ago, including how to proactively improve the aging trajectory,” said Afik Gal, Assured Allies Co-Founder and Chief Product Officer. “What’s really exciting is that we also understand how to use data and design programs that create a win-win proposition for insurers and policyholders.”
Together, the two companies will revolutionize the way insurers support policyholders in successful aging, which in turn allows insurers to manage risk and improve the state of their in-force business. Through proprietary data analytics that stratify an insurer’s in-force block, sophisticated applied algorithms identify policyholders that represent a high risk for claims. This process pinpoints the most appropriate interventions to impact this outcome, which can include personalized support delivered by highly trained professionals with expertise in independent aging.
The LTC insurance industry has experienced continuous claims growth over the past five years. The pandemic has also changed the way people want to receive care, and many more seniors are looking for ways to “age in place.” These trends have created an opportunity for insurers to introduce new solutions, like Assured Allies’ Age Assured program, to create a better policyholder experience while also improving cost control and risk mitigation.
“As LTC insurance claims rise, many insurers are looking for better ways to manage the risks associated with covering an aging population, including the ability to accurately identify policyholders who can benefit from targeted engagement and interventions,” said Peter Goldstein, CEO of LTCG. “Through this strategic alliance with Assured Allies, we are now able to offer our clients a proven solution to the challenging question of how to better support policyholders, help them stay healthy and avoid costly claims.”
About LTCG
LTCG is the leading provider of administrative solutions and clinical services to the long term care (LTC) insurance industry, with over two decades of experience. As the largest LTC insurance third-party administrator and claims payer in the country, LTCG serves all of the top 10 insurers and manages over 1.4 million policies. The company addresses many types of customer needs and requirements via its full-service actuarial consulting practice and end-to-end administrative solution that includes policy administration, new business and underwriting, claims and care management, assessments and clinical consulting. LTCG has also developed a number of industry-first innovations including fraud detection and mitigation services, electronic visit verification, white-labeled policyholder portals and provider networks as well as fall prevention and wellness programs. Together, these solutions help insurers reduce costs and manage their risk exposure while improving the overall customer experience across every touchpoint. For more information, visit www.LTCG.com.
About Assured Allies
Assured Allies is on a mission to help people make the most out of life by aging on their own terms. Since 2018, Assured Allies has been developing technologies and expertise in aging, working with long term care industry leaders and insurance companies to better support successful aging. The Age Assured program is offered at no cost to individuals through long term care insurance companies, designed for people who want help continuing to live independently as they age.
For more information visit www.AssuredAllies.com.
Contacts
LTCG
Sarah McLeod
[email protected]
800.516.2881 x103
Assured Allies
Monica Miller
[email protected]
415-968-9690
