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Non-Tech : pamc
PAMC 46.54+1.8%Nov 5 4:00 PM EST
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To: RON BL who wrote (192)4/4/1999 9:34:00 PM
From: Steven M. Kaplan   of 570
 
NEW FOCUS:

>>During 1998 the Company revised its strategy to focus predominately on HealthAxis, the Company's E-Commerce insurance marketing subsidiary along with more focused strategy for PILIC. In early 1998 the Company determined that the Internet provided the opportunity to sell health insurance direct to the consumer thereby reaching individuals under-served by insurance agents at a cost potentially lower than the Company's current traditional agency marketing channel. In light of the losses experienced in the Company's small group and managed care products and the need to devote capital and focus to HealthAxis, the Company entered into various agreements to sell PILIC's subsidiaries MMC, PALHIC and NIA and cede 100% of the group medical and group life business during 1998.<<
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