WellPoint Expands and Enhances Supplier Diversity Offerings Through Strategic Alliance with RLJ Insurance
INDIANAPOLIS, January 30, 2012 WellPoint and RLJ Insurance Services today announced a strategic alliance that will enhance and expand WellPoint’s supplier diversity offerings.
WellPoint’s affiliated health plans and RLJ Insurance Services will work together to provide medical stop loss products and services to group customers who are seeking to significantly amplify their Minority Business Enterprise (MBE) participation allocation.Stop loss insurance (also called excess loss insurance and sometimes reinsurance) provides protection against catastrophic or unpredictable costs. Under a stop loss policy, the insurance company reimburses the employer for legitimate health claims that exceed certain limits.
“We are very excited about our new relationship with RLJ Insurance Services,” said Ken Goulet, executive vice president for WellPoint’s Commercial Business Unit. “This strategic partnership is an excellent example of WellPoint’s ongoing commitment to supplier diversity that helps improve the affordability of our products for our customers.”
“We are excited to join with WellPoint,” says Robert L. Johnson, founder and chairman of The RLJ Companies and chairman of the board for RLJ Insurance Services. “RLJ Insurance is a full-service, full-authority managing general underwriter (MGU) dedicated to helping our clients solve their insurance and reinsurance challenges. The ability to be a Tier 1 Supplier Diversity requirement solution is an additive as we realize that without exceptional products, competitive pricing and outstanding customer service, diversity alone doesn’t deliver compelling value. Today’s announcement further demonstrates the value WellPoint brings to its customers as well as the company’s continued commitment to diversity.”
WellPoint works to simplify the connection between Health, Care and Value. We help to improve the health of our members and our communities, and provide greater value to our customers and shareholders. WellPoint is the nation’s largest health benefits company in terms of medical membership, with 34 million members in its affiliated health plans, and a total of more than 70 million individuals served through its subsidiaries. As an independent licensee of the Blue Cross and Blue Shield Association, WellPoint serves members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as the Blue Cross Blue Shield licensee in 10 New York City metropolitan and surrounding counties and as the Blue Cross or Blue Cross Blue Shield licensee in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), and Wisconsin. In a majority of these service areas, WellPoint does business as Anthem Blue Cross, Anthem Blue Cross and Blue Shield, Blue Cross andBlue Shield of Georgia,Empire Blue Cross Blue Shield, or Empire Blue Cross (in the New York service areas). WellPoint also serves customers throughout the country as UniCare. Additional information about WellPoint is available at www.wellpoint.com.
About RLJ Insurance Services
RLJ Insurance Services, LLC, is the nation’s premier minority Managing General Underwriter for Medical Stop-Loss representing A and A+ rated insurance companies. RLJ Insurance Services has formed strategic partnerships with leading national insurance carriers and brokerage agencies with the goal of becoming the partner of choice for providing services to state and municipal governments, and corporate clients who are seeking to significantly amplify their Minority Business Enterprise participation allocation. Additional capabilities include services specializing in cost-effective insurance/reinsurance solutions for voluntary benefits, healthcare, and property and casualty. RLJ Insurance Services writes business in all 50 states and maintains a solid client base. RLJ Insurance Services focuses on providing organizations an opportunity to reach and exceed established goals for MBE participation. Our business philosophy is about building long term relationships with our carriers, our producers and our clients. For more information, visit www.rljinsurance.com.
Cindy Sanders, 404-788-8957
Traci Otey Blunt, 240.744.7858