Another Insurance company joins us:
Fortis Health and HealthAxis.com Announce Exclusive Carrier Agreement
MILWAUKEE, Wis./NORRISTOWN, Pa.--(BUSINESS WIRE)--Nov. 18, 1998--
Fortis Health to Offer Short Term Medical Insurance and Medical
Insurance for College Students on HealthAxis.com
Fortis Health, a leading provider of individual and small group
health insurance, and HealthAxis.com, a pioneer in the Internet
distribution of health insurance, today announced an exclusive
agreement to offer Fortis Health's Short Term Medical insurance and
Student Select, a major medical product for the college student
market, throughout the HealthAxis.com network of Web sites.
Customers will be able to purchase Fortis Health's Short Term
Medical and Student Select products on HealthAxis.com's Web site,
www.healthaxis.com. The Web site will be accessible through
HealthAxis.com's exclusive distribution partners, America Online,
AOL.COM, Lycos, CNET and Snap!. Fortis Health will pay HealthAxis.com,
the online subsidiary of Provident American Corporation (Nasdaq: PAMC)
per-policy compensation, and, if sales goal are met, additional
bonuses. In addition, Fortis Health will provide claim processing and
customer service for customers purchasing the Fortis Health products
through HealthAxis.com. The Short Term and Student Select products are
issued and underwritten by Fortis Insurance Company.
"The Internet has the potential to become a significant
commercial sales channel," said Dave McDonough, Executive Vice
President and Chief Operating Officer of Fortis Health. "We want to
become the company of choice for those consumers who want to make
their short term and student medical insurance purchases online. We
are pleased to be working with HealthAxis.com to provide Internet
users with the information and tools they need to make smart decisions
regarding this type of insurance."
"Fortis Health is an ideal carrier partner for HealthAxis.com and
this agreement is a critical step forward in our strategy to become
the premier online provider for the $75 billion individual and small
group market," said Michael Ashker, President and Chief Executive
Officer of HealthAxis.com. "Of the approximately 43 million uninsured
Americans, millions are in-between jobs or in transition. For this
group, short term medical insurance is an increasingly desirable
solution for health care coverage. Moreover, because of the simplicity
of enrollment and the attractive price, short term medical is a
perfect product for Internet distribution."
During any one-year period, approximately 20 million people have
a one-to-six-month gap in their medical coverage (according to the
U.S. Census Bureau), translating into a $4 billion annual short-term
medical market. In addition, there are more than 14 million college
students in the United States, representing a multi-billion dollar
student medical market.
Through its highly interactive, user-friendly, one-stop health
care insurance Web site, HealthAxis.com provides product and health
information, instant price quotes, online billing, claim status, and
policy or personal information changes, and a customer hotline.
Fortis Health
Fortis Health provides solutions for customers' health care needs
by offering a wide array of individual, small group and specialty
health insurance products. The specialty medical products include
student insurance and a market-leading short term medical plan. Fortis
Health includes health insurance products issued and underwritten by
Fortis Insurance Company of Milwaukee, WI, Fortis Benefits Insurance
Company of Kansas City, MO, and John Alden Life Insurance Company of
Miami, FL.
Fortis Health is part of Fortis, Inc., a financial services
company that, through its operating companies and affiliates, provides
specialty insurance and investment products to businesses,
associations, financial service organizations and individuals in the
U.S. The company owns or manages approximately $16 billion in assets.
Fortis, Inc. is part of the international Fortis group, which operates
in the fields of insurance, banking and investments, with assets in
excess of $360 billion. Fortis is jointly owned by Fortis AMEV of the
Netherlands and Fortis AG of Belgium.
HealthAxis.com
HealthAxis.com, a subsidiary of Provident American Corporation,
is a pioneer in the Internet distribution of health insurance to the
individual and small group markets. Through its interactive,
user-friendly Web site, healthaxis.com, HealthAxis.com
provides customers with access to and the ability to purchase a full
range of high quality, flexible insurance products and services at
very competitive prices.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: Certain statements made by the Companies which are not
historical facts may be considered forward-looking statements,
including, without limitation, statements as to trends, management's
beliefs, expectations and opinions, which are based upon a number of
assumptions concerning future conditions that ultimately may prove to
be inaccurate. Such forward-looking statements are subject to risks
and uncertainties and may be affected by various factors which may
cause actual results to differ materially from those in the
forward-looking statements. For further information which could cause
actual results to differ from the Companies' expectations as well as
other factors which could affect the Companies' financial statements,
please refer to the Companies' reports filed with the Securities and
Exchange Commission.
CONTACT:
HealthAxis.com Fortis Health
Deidre Holt John Radovich
Craig Gitlitz (414) 299-6111
(610) 275-3800 |
