Tuesday December 29, 2:30 pm Eastern Time
Company Press Release
HealthAxis.com Announces Carrier Agreement With Ceres Group, Inc. Insurance Subsidiary
Ceres Group Subsidiary To Offer Small Group Medical Insurance, Long-Term Care Insurance, Senior Health and Life Insurance, and Critical Illness Coverage on HealthAxis.com
NORRISTOWN, Pa.--(BUSINESS WIRE)--Dec. 29, 1998-- HealthAxis.com, the e-commerce subsidiary of Provident American Corporation (Nasdaq:PAMC - news), today announced an agreement with Ceres Group, Inc. (Nasdaq:CERG - news) to offer Provident American Life and Health Insurance Company's (PALHICO's) Small Group Medical Insurance, Long-Term Care Insurance, Senior Health Insurance, Senior Life Insurance and Critical Illness Coverage on HealthAxis.com. Provident American Corporation recently reached an agreement to sell PALHICO, an insurance subsidiary, to Ceres Group to further facilitate the Company's strategic shift to its online health insurance venture, HealthAxis.com.
Consumers will be able to purchase PALHICO insurance products throughout the HealthAxis.com network of sites and through HealthAxis.com's exclusive distribution partners, which include the AOL service and AOL.COM, Lycos, CNET and Snap!. Under the agreement, PALHICO will pay HealthAxis.com certain base commissions, renewal commissions and marketing-related fees. PALHICO also will provide underwriting, fulfillment, billing, claims processing, adjudication and customer service for the joint customers of HealthAxis.com and PALHICO.
Peter W. Nauert, Chief Executive Officer of Ceres Group, said: ''We believe that the Internet represents a largely untapped sales channel for our wide range of insurance offerings. This partnership with HealthAxis.com will enhance our ability to offer consumers the product information and purchasing options they need to make informed insurance-buying decisions easily and conveniently.''
Michael Ashker, President and Chief Executive Officer of HealthAxis.com said: ''HealthAxis.com is pleased to welcome our new carrier partner, Ceres Group, and its subsidiary PALHICO, to cyberspace.''
''We look forward to providing consumers with access to their cutting-edge insurance products at www.healthaxis.com and through our network of distribution partners.''
Through its highly interactive, user-friendly, one-stop health care and life insurance Web site, HealthAxis.com also provides product and health information, instant price quotes, electronic application processing, online billing, claims status, policy or personal information changes, and a customer hotline. Policy holders can easily and conveniently view billing information, claims history and policy details - day and night, 7 days a week.
Ceres Group, Inc.
Ceres Group, Inc. (formerly Central Reserve Life Corporation), through its subsidiaries, specializes in meeting the accident and health insurance needs of individuals and small to mid-sized businesses and the health and life insurance needs of Americans age 65 and older.
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 Company 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 Company's expectations as well as other factors which could affect the Company's financial statements, please refer to the Company's reports filed with the Securities and Exchange Commission.
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Contact:
Investor Contact: or Media Contact:
Deidre Holt Lisa Wolford
HealthAxis.com Robinson Lerer & Montgomery for
610-275-3800 HealthAxis.com
deidreh@earthlink.net 212-484-7058
lwolford@rlmnet.com
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More Quotes
and News: Ceres Group Inc (Nasdaq:CERG - news)
PROVIDENT AMER (Nasdaq:PAMC - news)
Related News Categories: computers, insurance, internet, medical/pharmaceutical
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