Copyright © 2026 Knight Sac Media. All rights reserved.https://www.siliconinvestor.com/subject.aspx?subjectid=19983 America Online and Provident American Insurance Company Announce Exclusive Agreement for Provident to Offer Health Insurance to AOL Users Business Wire - March 26, 1998 09:02 %AMERICA-ONLINE AOL %VIRGINIA %PENNSYLVANIA %COMPUTERS %ELECTRONICS %COMED %ENTERTAINMENT %INTERACTIVE %MULTIMEDIA %INTERNET %INSURANCE %MEDICINE V%BW P%BW -------------------------------------------------------------------------------- DULLES, Va. and NORRISTOWN, Pa.--(BUSINESS WIRE)--March 26, 1998-- Provident American to Offer Individual and Small Group Health Insurance on AOL and AOL.COM Insurance Offerings to Include Health, Vision, Dental, Prescription, Critical Care and Long-Term Care Insurance Products AOL Interactive Services, the Internet online services division of America Online, Inc. (NYSE: AOL), and Provident American Corporation, (NASDAQ: PAMC), an insurance company specializing in the marketing of managed-care health insurance to individuals and small groups, today announced a new alliance that will allow Provident American to be the exclusive direct marketer of medical insurance and certain other health care-related insurance products and services on the AOL service and AOL.COM, the most visited consumer site in cyberspace from home. To ensure the best quality of service and technological support for the interactive site, Provident is partnered with HealthPlan Services (NYSE: HPS), the nation's largest third party administrator. Through prominent placement of Provident banners in various areas of AOL.COM and the AOL service, including permanent placement in the AOL Insurance Center, Provident's newly formed subsidiary, Insurion, Inc., will offer insurance products including: health insurance for individuals and small groups, dental insurance, vision care insurance, prescription coverage, critical care and long-term care insurance. With the assistance of HealthPlan Services, Insurion will develop the content of a highly interactive, user-friendly one-stop health care insurance Website. In addition to transacting product sales, Insurion, in conjunction with the proprietary electronic transaction processing system developed by HealthPlan Services, will provide product and health information, price quotes for their products, applications processing, customer service and claims processing. During the initial term of the agreement, which will run for one year from the launch of Provident's Website, Provident American will make guaranteed payments to AOL totaling $8 million, and will make additional guaranteed payments to AOL of $32.5 million if Provident renews the agreement for an additional two years. AOL may also receive certain administrative fees under the agreement. In addition, AOL received warrants to purchase up to 300,000 shares of Provident American common stock and may receive warrants to purchase up to 450,000 additional shares of Provident American common stock, based on certain criteria under the agreement. The exercise pri...https://www.siliconinvestor.com/images/Logo380x132.pnghttps://www.siliconinvestor.com/subject.aspx?subjectid=1998338013210