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Insphere Insurance Solutions® Innovative Technology Platform for Agents Featured in Case Study

2010-10-27T21:44:07Z

Insphere Insurance Solutions® Innovative Technology Platform for Agents Featured in Case Study

Insphere’s Implementation of Integrated Product Solution is Featured in Case Study published by Microsoft and VUE Software

DALLAS/FORT WORTH – October 5, 2010 – Insphere Insurance Solutions (http://www.insphereis.com) announced today that the company’s technology platform, which integrates solutions from VUE Software and Microsoft Dynamics CRM, has been featured in a case study released on Microsoft’s web site.

In developing its technology platform, Insphere eliminated the complexity of a multi-carrier environment to provide an “agent experience” that feels like they are doing business with a single carrier. Insphere’s platform integrates Microsoft Dynamics CRM with VUE IncentivePoint and VUE Compensation Management to provide an extremely efficient selling environment for their agents.

“Agents are vital to our success; that’s why we set out to create an online selling environment with tools that deliver the most productive and rewarding experience possible,” said Jeff Walker, Vice President for Insphere Insurance Solutions. “We believe the Insphere technology platform delivers a tremendous competitive advantage for our agents in the marketplace. They can sell more products from more carriers, close business faster and generate more substantial commissions.”

Insphere’s technology platform provides its agents with a single source to monitor the status of all customer applications and policies across all carriers, including open underwriting requirements as well as notifications when policies are about to become active. As agents work their leads, the tool tracks all prospecting activities, such as making calls and setting appointments, and presents agents with an overview of their current lead inventory, by status, in a graphical funnel view.

“By integrating these solutions, we have removed all roadblocks so agents can focus on what they do best—provide clients with information and options that let them select the best insurance products for their needs,” said Walker.

Abhinav Dave, Executive Vice President at VUE Software shared, “VUE Software contributed rich domain expertise and optimized capabilities to make the technology deliver practical advantages for Insphere and its agents. We are extremely proud of our contributions to Insphere’s innovative technology platform.”

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About Insphere Insurance Solutions

Insphere Insurance Solutions, Inc. is a distribution company that specializes in meeting the life, health, long-term care and retirement insurance needs of small businesses and middle-income individuals and families through its portfolio of highly rated products offered by nationally recognized insurance carriers. Insphere is an authorized agency in all 50 states and the District of Columbia with approximately 2,600 agents nationwide. For more information, please visit www.insphereis.com.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release may include forward-looking statements relating to Insphere Insurance Solutions, Inc. that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "expect," "intend," “may,” "objective," "plan," "possible," "potential," “project” and similar expressions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date. Factors that could cause actual results to differ materially include, but are not limited to, the effect of recently enacted national health care reform legislation on our business; other legal or regulatory developments which may adversely affect our business including, but not limited to, laws or regulations which impede our ability to obtain effective leads; any failure to comply with applicable law or regulations; our ability to maintain applicable licenses; our ability to enter into and maintain satisfactory relationships with insurance carriers and agents; our ability to implement and maintain various information technology and administrative systems, platforms and processes necessary to successfully run the businesses, or the failure of such systems, platforms and processes to provide timely and accurate information; our reliance on outsourcing arrangements, which may subject us to risks related to business disruption or otherwise adversely affect our operations; termination of agreements with insurance carriers or revisions to contract terms which may adversely affect our business; the failure of insurance carriers to pay us in a timely and accurate manner or to provide us with data required to support product sales and accurately pay our agents; and the failure of an insurance carrier to administer underwritten business in an appropriate manner, which may lead to customer dissatisfactions and the lapse or cancellation of policies for which we and our agents receive commissions. Like any business, the progress and success of the company entails substantial uncertainty. There can be no assurance that other factors not currently anticipated by the company will not materially and adversely affect our financial condition and results of operations. Readers are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.

Media Contacts:

Donna Ledbetter
(817) 255-5405
Donna.Ledbetter@InsphereIs.com

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Insphere Insurance Solutions Appoints Insurance Industry Veteran Kenneth J. Fasola as President and Chief Operating Officer

2010-09-30T17:13:22Z

Insphere Insurance Solutions® Appoints Insurance Industry Veteran Kenneth J. Fasola as President and Chief Operating Officer

Kenneth J. Fasola joins Insphere Insurance as President and Chief Operating Officer; Hildebrand continues as Chief Executive Officer

DALLAS/FORT WORTH – September 27, 2010 – Kenneth J. Fasola, a 25-year veteran of the health insurance industry, has joined Insphere Insurance Solutions® (http://www.insphereis.com) as President and Chief Operating Officer. Phillip J. Hildebrand will continue to serve as the company’s Chief Executive Officer.

“I am extremely pleased to announce Ken’s appointment as President and Chief Operating Officer of Insphere Insurance Solutions. Ken is an experienced and talented leader, with senior executive experience at two of the nation’s leading health carriers. His expertise in sales and marketing, business development, and operations as well as his experience with cultivating a national network of agent, broker, and consultant relations is ideally suited for our business strategies and will accelerate the growth of our organization,” said Hildebrand.

“Ken has also worked closely with companies that are delivering innovative technology and services to our industry, which is a key part of the value proposition Insphere is committed to delivering to its agents,” added Hildebrand. “His relationships with these companies and understanding of leading-edge technology will help Insphere to grow its distribution network and to expand distribution channels for the supplemental insurance and association products that we represent on an exclusive basis.”

"Insphere offers agents a unique value proposition and it is perfectly positioned for exponential growth due to changes in the marketplace related to health reform and an overall reduction in the number of distribution companies in our industry,” said Fasola. “I am excited about the opportunities I see for this company and I look forward to working with Phil and the rest of the management team as we implement this business strategy.”

Fasola is expected to become President and Chief Executive Officer for Insphere Insurance Solutions in June 2011 when Hildebrand will become chairman of the board of directors for the parent company of Insphere. “We believe that an orderly succession plan and clarity of executive leadership are in the best interest of our agents, customers, business partners, and investors and provides important continuity for the future of our organization,” said Hildebrand. “I am extremely pleased to select Ken as my successor and am confident he has the skill set to continue to build Insphere into a market-leading insurance distribution company.”

Prior to joining HealthMarkets, Fasola was responsible for Humana’s individual major medical, specialty and supplemental insurance operations. Prior to that, he was Chief Executive Officer for Secure Horizons, a division of UnitedHealth Group and the nation’s largest Medicare Advantage insurer. Additionally, he served as Chief Executive Officer of UnitedHealth Care’s Central Region and as National Sales Officer and President of UnitedHealth Care Lines of Business.

Fasola serves on the boards of Pennsylvania State University, Schreyer Honors College and Connextions, Inc., a technology-based business process outsourcing firm. He holds a BS in Health Planning and Administration from Pennsylvania State University.

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About Insphere Insurance Solutions

Insphere Insurance Solutions® is a distribution company that specializes in meeting the life, health, long-term care and retirement insurance needs of small business and middle-income individual and families through its portfolio of products from nationally recognized insurance carriers. Insphere is an authorized agency in all 50 states and the District of Columbia with approximately 2,200 agents nationwide. For more information about Insphere Insurance Solutions visit www.insphereis.com.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release may include forward-looking statements relating to Insphere Insurance Solutions ("Insphere") that are subject to certain risks, uncertainties and assumptions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date. Factors that could cause actual results to differ materially include, but are not limited to, Insphere's ability to maintain applicable licenses, Insphere's ability to enter into and maintain satisfactory relationships with insurance carriers and agents and the implementation of various information technology and administrative systems, platforms and processes necessary to successfully run the business. Like any business, the progress and success of Insphere entails substantial uncertainty.

Media Contacts:

Donna Ledbetter
(817) 255-5405
Donna.Ledbetter@InsphereIs.com

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Receive Insphere Insurance Solutions news releases via RSS.

Insphere Insurance Solutions Commences Business As One of the Largest Independent Career Insurance Distribution Groups In America

2010-01-22T23:07:25Z

Insphere Insurance Solutions^sm Commences Business As One of the Largest Independent Career Insurance Distribution Groups In America

Insphere Insurance Solutions rolls out proprietary technology platform to provide agents with a single agent desktop across multiple carriers and product lines

DALLAS/FORT WORTH – January 21, 2010 – Insphere Insurance Solutions^sm (http://www.insphereis.com) announced today that it has officially commenced business as one of the largest independent, career agent insurance distribution groups in America. With a force of approximately 2,200 agents, offices in over 40 states and authorization to do business in all 50 states and the District of Columbia, Insphere is offering life, health, long-term care and retirement products for the small business and middle-income market.

"We are extremely excited to launch Insphere Insurance Solutions nationally and offer a broad range of products that meet the needs of the under-served small business and middle-income markets, through our arrangements with leading insurance carriers," said Phillip J. Hildebrand, president and chief executive officer of Insphere Insurance Solutions.

"Launching an agency like Insphere during this time of evolution and change in the insurance industry is important for both consumers and agents," said Hildebrand. "Consumers increasingly demand insights and choice when making a decision about insurance, and Insphere's agents and our portfolio of solutions provide that. Additionally, given potential legislative or regulatory reforms, agents who are selling only health products currently, may want to expand their capabilities to offer a variety of insurance products. Insphere Insurance Solutions offers that opportunity in a very dynamic way."

Insphere has also begun the roll out of Insphere Insite^sm, its proprietary technology platform that combines best-in-class industry technology with the individual tools provided by its carriers into a single system that provides a significant competitive advantage for field managers and agents.

"Our technology enables a better client experience because it complements the agent's knowledge with specific product information, comparisons and pricing options that reflect the individual's needs," said Hildebrand.

These industry tools include:

Agent Portal: Providing sales agents access to critical product, marketing, training and reporting resources, built by technology partner Pariveda Solutions, Inc.;
iPipeline: leading life insurance illustration, quoting and electronic application tools, including iGO e-App™;
Microsoft Dynamics CRM: a market leader in client relationship management (CRM) technology;
Norvax: the leading health insurance quoting and electronic application system used extensively by carriers and brokers nationwide; and
VUE Compensation Management: the emerging leader in producer administration and compensation technology in the insurance industry as the core of Insphere's technology platform.

"Simply put, by integrating these tools into our proprietary technology platform, our agents will operate in a seamless multi-carrier environment that will feel like they are working with a single carrier for everything from quoting, electronic applications, application tracking, managing compensation and managing their client base," said Hildebrand. "We believe the Insphere Insite technology platform, in addition to in-house training and support, provides a unique offering for an independent career agent that delivers a tremendous advantage in the marketplace."

Insphere Insurance Solutions is structured as an agent-producer group offering what we believe is a market-leading, total-compensation package that features a consolidation of production across all carriers and product lines to determine commission level and bonus, funding for leads as well as an equity opportunity in Insphere Insurance Solution's parent company that we believe is unique in the industry.

The plans for Insphere Insurance Solutions were originally announced in July 2009. Since that time, Insphere has completed marketing agreements with Aetna and UnitedHealthcare's Golden Rule Insurance Company for individual health insurance plans, John Hancock for long-term care insurance, ING for term life and universal life insurance and Minnesota Life for whole life insurance. Insphere also has a marketing arrangement with The Plus Group Texas which provides agents with access to disability income insurance products from market leaders MetLife, Principal Financial Group and The Standard.

Insphere Insurance Solutions is owned by a group of private equity investors, including affiliates of The Blackstone Group, Goldman Sachs Capital Partners and Credit Suisse, and is actively recruiting new and experienced insurance agents and experienced field leaders with an objective of doubling the number of agents over the next few years.

###

About Insphere Insurance Solutions^sm

Insphere Insurance Solutions^sm is a distribution company that specializes in meeting the life, health, long-term care and retirement insurance needs of small business and middle-income individual and families through its portfolio of products from nationally recognized insurance carriers. Insphere is an authorized agency in all 50 states and the District of Columbia with approximately 2,200 agents nationwide. For more information about Insphere Insurance Solutions visit www.insphereis.com.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Media Contacts:

Donna Ledbetter
(817) 255-5405
Donna.Ledbetter@InsphereIs.com

Jessica Anderson, Hill & Knowlton
(212) 885-0492
Jessica.Anderson@hillandknowlton.com

Alexandra Ames, Hill & Knowlton
(212) 885-0608
Alexandra.Ames@hillandknowlton.com

Download PDF version of this news release.

Receive Insphere Insurance Solutions news releases via RSS.

Insphere Insurance Solutions to Begin Marketing UnitedHealthcare Individual and Family Health Plans

2009-10-05T21:51:54Z

Insphere Insurance Solutions^sm to Begin Marketing UnitedHealthcare Individual and Family Health Plans

Insphere Insurance Solutions Expands its Portfolio With New Quality, Cost-Effective Health Insurance Products

DALLAS/FORT WORTH – October 5, 2009 – Insphere Insurance Solutions^sm (http://www.insphereis.com) today announced that it will begin marketing health insurance plans from UnitedHealthcare's Golden Rule Insurance Company (www.goldenrule.com) throughout the country.

The plans will first be offered through Insphere in Alabama, Arizona, Delaware, Florida, Illinois, Maryland, North Carolina, Tennessee, Virginia, Wisconsin and Washington, D.C., and then expanded into the other markets in which UnitedHealthcare's personal health plans are currently available.

"UnitedHealthcare offers quality products that fit the budget needs of most consumers who buy their own health insurance. In addition, their health plans are supported by a strong national network of physicians and care providers, excellent service and their organizational commitment to evidence-based clinical care," said Phillip J. Hildebrand, president and chief executive officer of Insphere Insurance Solutions. "Working with UnitedHealthcare helps Insphere Insurance Solutions continue to expand its portfolio of life, health, and long-term care and retirement insurance products for our specialized market focus."

UnitedHealthcare currently serves more than 25 million individual customers. Its extensive network includes approximately 590,000 physicians and care professionals and more than 4,900 hospitals nationwide.

Insphere Insurance Solutions will market four health plans underwritten and administered by UnitedHealthcare's Golden Rule that are designed to meet the needs of individuals and families for cost-effective, quality coverage. This includes two "co-pay" plans that are similar to traditional employer-sponsored plans, and two health savings account (HSA) plans that offer a high deductible insurance plan combined with a tax-favored savings account.

Golden Rule pioneered the concept of the HSA more than a dozen years ago when it introduced the first medical savings account (MSA). Today, nearly one-third of its customers are covered by HSA plans because of the savings, tax advantages and control over health care spending health savings accounts offer.

"Insphere Insurance Solutions will have experienced agents with an understanding of the needs of consumers who are looking for good health insurance coverage for their families that fits into their budgets, especially today," added Hildebrand. "Insphere Insurance Solutions is consistently attracting top-name carriers as product providers for our independent, career-agent field force. These industry leaders recognize the strength of our strategy and platform."

Insphere Insurance Solutions has previously announced marketing agreements with John Hancock for long-term care insurance, ING for term life and universal life insurance, and Minnesota Life for whole life.

Insphere Insurance Solutions is an authorized agency in 49 states and the District of Columbia and expects to be the largest independent career agent insurance distribution group in America, with an anticipated force of 3,000 agents. Insphere Insurance Solutions is backed by a group of private equity investors, including affiliates of The Blackstone Group, Goldman Sachs Capital Partners and Credit Suisse.

"Because of our size and scale, we expect to offer an innovative compensation structure and significant support for field managers and agents, including best-in-class technology capabilities for lead generation, training, compliance and marketing," added Hildebrand.

Insphere Insurance Solutions plans to grow geographically into additional communities across the country, and will be actively recruiting new agents, experienced field leaders and established agents, with an objective of doubling the number of agents over the next few years.

# # #

About UnitedHealthcare

UnitedHealthcare (www.unitedhealthcare.com) provides a full spectrum of consumer-oriented health benefit plans and services to individuals, public sector employers and businesses of all sizes, including more than half of the Fortune 100 companies. The company organizes access to quality, affordable health care services on behalf of more than 25 million individual consumers, contracting directly with approximately 590,000 physicians and care professionals and more than 4,900 hospitals to offer them broad, convenient access to services nationwide. UnitedHealthcare is one of the businesses of UnitedHealth Group (NYSE: UNH), a diversified Fortune 50 health and well-being company.

About Insphere Insurance Solutions^sm

Insphere Insurance Solutions^sm is unique as a specialist in small business and middle-income market life, health, long-term care and retirement insurance. When the company commences full services in 2010, it is expected to be the largest independent career agency distribution group, with a sales force of approximately 3,000 agents nationwide. For more information about Insphere Insurance Solutions, visit www.insphereis.com.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This new release includes forward-looking statements relating to the development of Insphere Insurance Solutions ("Insphere") that are subject to certain risks, uncertainties and assumptions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date. Factors that could cause actual results to differ materially include, but are not limited to, Insphere's ability to obtain and maintain applicable licenses, Insphere's ability to enter into and maintain satisfactory relationships with insurance carriers and agents and the implementation of various information technology and administrative systems, platforms and processes necessary to successfully run the new business. Like any new business, the progress and success of Insphere entails substantial uncertainty.

Media Contacts:

Donna Ledbetter
(817) 255-5405
DLedbetter@InsphereIS.com

Jessica Anderson, Hill & Knowlton
(212) 885-0492
Jessica.Anderson@hillandknowlton.com

Alexandra Ames, Hill & Knowlton
(212) 885-0608
Alexandra.Ames@hillandknowlton.com

Download PDF version of this news release.

Insphere Insurance Solutions Announces Long-term Care Partnership with John Hancock

2009-09-14T22:46:01Z

Insphere Insurance Solutions^sm Announces Long-term Care Partnership with John Hancock

Insphere Insurance Solutions Enhances Portfolio with Life Insurance Products from Minnesota Life

DALLAS/FORT WORTH – September 14, 2009 – Insphere Insurance Solutions^sm (http://www.insphereis.com) today announced that it has completed a marketing agreement with John Hancock (http://www.johnhancock.com) to sell selected long-term care insurance products.

"We have made remarkable progress since announcing the formation of Insphere Insurance Solutions in early July," said Phillip J. Hildebrand, president and chief executive officer. "This marketing agreement with Hancock, plus discussions with other leading carriers, are validating our view that there is an important role to be played by an independent, dedicated career agent distribution company targeting small business and the middle-income market."

John Hancock ranked as number one in the long-term care insurance market with a 23.2 percent market share, according to a year-end 2008 report from the industry trade group LIMRA International. It was their second year as market leader with $177.8 million in LTC premiums for the past year.

"We believe the long-term care insurance market holds tremendous potential for Insphere Insurance Solutions and we are excited about representing the market leader for these products," said Hildebrand. "This market will continue to expand as the senior population grows and as baby boomers experience the value of long-term care insurance protection."

Long-term care insurance typically involves a fixed-benefit provision for either institutional or in-home care for a person who no longer has the ability to operate independently for the basic functions of life. Care can be provided in a nursing or assisted-living facility, or many opt for a full or part-time helper in the home.

Insphere Insurance Solutions also announced that it has completed a marketing agreement with Minnesota Life Insurance Company (http://www.minnesotalife.com) for selected life insurance products. "The addition of Minnesota Life to our portfolio provides additional options for consumers interested in life insurance products," said Hildebrand. "With the economy today, consumers are demanding certain features in life insurance products, and we believe Minnesota Life has one of the best whole life products currently available."

Insphere Insurance Solutions previously completed a marketing agreement with ING, a leading global banking and insurance company, to distribute the company's term life and universal life insurance products, and is in discussions with a number of other leading carriers to distribute other insurance products.

Insphere Insurance Solutions also announced that it had expanded its capabilities in the Utah, Nevada and Arizona markets by successfully recruiting approximately 100 established life agents and contracted with a number of experienced field managers from a company that elected to leave the distribution business.

Insphere Insurance Solutions is an authorized agency in 49 states and the District of Columbia and expects to be the largest independent career agent insurance distribution group in America, with a force of 3,000 agents when the company commences full services in 2010. Insphere Insurance Solutions is backed by a group of private equity investors, including affiliates of The Blackstone Group, Goldman Sachs Capital Partners and Credit Suisse.

Hildebrand noted that the company plans to grow geographically and into additional communities across the country, and will be actively recruiting experienced and new insurance field managers and agents, with an objective to double the number of agents over the next few years.

"Because of our size and scale, we expect to be able to offer significant infrastructure and support for field managers and agents, including a unique total compensation structure expected to include an equity component. We also expect to offer best-in-class technology capabilities for lead generation, training, compliance and marketing," added Hildebrand.

Insphere Insurance Solutions agents will be the experts in servicing small business and middle-market customers, and they will represent some of the insurance industry's leading carriers.

About Insphere Insurance Solutions^sm

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This new release includes forward-looking statements relating to the development of Insphere Insurance Solutions ("Insphere") that are subject to certain risks, uncertainties and assumptions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date. Factors that could cause actual results to differ materially include, but are not limited to, Insphere's ability to obtain applicable licenses, Insphere's ability to enter into and maintain satisfactory relationships with insurance carriers and agents and the implementation of various information technology and administrative systems, platforms and processes necessary to successfully run the new business. Like any new business, the progress and success of Insphere entails substantial uncertainty.

Media Contacts:

Donna Ledbetter
(817) 255-5405
Donna.Ledbetter@InsphereInsurance Solutions.com

Jessica Anderson, Hill & Knowlton
(678) 687-9784
Jessica.Anderson@hillandknowlton.com

Alexandra Ames, Hill & Knowlton
(415) 652-8142
Alexandra.Ames@hillandknowlton.com

Download PDF version of this news release.

Blackstone led investor group announces launch of Insphere Insurance Solutions

2009-07-27T18:22:38Z

Blackstone Led Investor Group Announces Launch of Insphere Insurance Solutions^sm

Phillip J. Hildebrand Named as Chief Executive Officer

NEW YORK NY – July 7, 2009 – A group of private equity investors, including affiliates of The Blackstone Group, Goldman Sachs and Credit Suisse, has announced plans to launch Insphere Insurance Solutions^sm. (http://www.insphereinsurancesolutions.com)

This new company expects to be the nation’s largest independent career agent distribution group offering life, health, long-term care and retirement products for small businesses and the middle-income market. Long-time insurance industry executive Phillip J. Hildebrand has been named as chief executive officer for the new company.

“Insphere Insurance Solutions will be exclusively focused on the under-served small business and the middle income market,” said Hildebrand. “This market has been largely ignored by major insurance carriers and agents who have migrated to serve more affluent consumers. This has resulted in a scarcity of distribution in this market.”

The small business and middle market is the fastest growing segment in the industry. There are over 30 million middle-income households who are faced with significant financial challenges, including rising unemployment, growing concerns about healthcare inflation, loss of insurance benefits at their workplace, and uncertainty around future of Medicare and Social Security. A study by the Life Insurance and Market Research Association (LIMRA) found 44% of the middle market considered themselves under-insured on life insurance. Insuring this group would add $9.5 trillion in insurance and $17 billion in premiums, according to the report.

Even though the middle market has grown considerably over the past two decades, industry experts cite a dramatic decline in the number of carriers and insurance professionals who serve this market. The number of companies serving the middle market declined by some 37% over the last decade ending in 2006, and the number of overall agents declined by 16%.

The small business market is also a rapidly expanding, yet under-served segment. According to the U.S. Census Bureau, some 89% of all firms have fewer than 20 employees. A report by the national association of America’s Health Insurance Plans found that 70% of firms with less than 10 employees do not provide health insurance. As economic pressures have intensified, even those small businesses that currently offer health insurance to their employees are faced with the difficult decision to reduce or eliminate insurance coverage.

“We are currently in discussions with a number of leading life, health, long-term care and retirement carriers about our capabilities in reaching small business and the middle market,” said Hildebrand.

As one of its initial solutions, Insphere Insurance Solutions announced its intention to enter into a marketing agreement with ING, a leading global banking and insurance company, to distribute the company’s term life and universal life insurance products. The company expects to begin marketing ING insurance policies on a pilot basis in 90 days.

Insphere Insurance Solutions expects to be the largest independent career agent insurance distribution group in America, with a force of 3,500 agents and offices in over 40 states expected when the company commences services in 2010. Hildebrand noted that the company plans to grow geographically and into communities across the country, and will be actively recruiting experienced and new insurance field managers and agents, with an objective to double the number of dedicated independent Insphere Insurance Solutions agents over the next few years.

“Because of our size and scale, we expect to be able to offer significant infrastructure and support for field managers and agents including lead generation, training, compliance, marketing and technology capabilities. We also believe our compensation will be unique, with an equity compensation component expected to be offered to both field managers and agents” added Hildebrand.

Prior to being named CEO of Insphere Insurance Solutions, Hildebrand had over a 30-year career with New York Life, serving in several executive management positions with the company including Head of Distribution. He was named Vice Chairman in 2006. Hildebrand retired from New York Life in 2007 and has since served in other advisory and executive positions in the insurance industry.

About Insphere Insurance Solutions^sm

Insphere Insurance Solutions^sm is unique as a specialist in small business and middle-income market life, health, long-term care and retirement insurance. The company will be the largest independent career agency distribution group, with a sales force of 3,500 agents and offices in more than 40 states when the company commences services in 2010. For more information about Insphere Insurance Solutions, visit http://www.insphereinsurancesolutions.com.

About the ING Family of Companies

Life insurance products are issued by ReliaStar Life Insurance Company (Minneapolis, MN), ReliaStar Life Insurance Company of New York (Woodbury, NY) and Security Life of Denver Insurance Company (Denver, CO). Within the state of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. All are members of the ING family of companies.

Other than the ING companies identified, no other entities, whether distributing or listed on the material, are affiliated with the ING family of companies.

CAUTIONARY STATEMENT FOR PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This new release includes forward-looking statements relating to the development of Insphere Insurance Solutions (“Insphere”) that are subject to certain risks, uncertainties and assumptions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date. Factors that could cause actual results to differ materially include, but are not limited to, Insphere’s ability to obtain applicable licenses and/or appointment and Insphere’s success in entering into and maintaining satisfactory relationships with insurance carriers and agents.

Media Contacts:

Donna Ledbetter
(817) 255-5405
Donna.Ledbetter@InsphereInsurance Solutions.com

Jessica Anderson, Hill & Knowlton
(678) 687-9784
Jessica.Anderson@hillandknowlton.com

Alexandra Ames, Hill & Knowlton
(415) 652-8142
Alexandra.Ames@hillandknowlton.com

» Download PDF version of this news release.

"Latest News" via Insphere in Google Reader

Insphere Insurance Solutions® Innovative Technology Platform for Agents Featured in Case Study

Insphere Insurance Solutions® Innovative Technology Platform for Agents Featured in Case Study

Insphere’s Implementation of Integrated Product Solution is Featured in Case Study published by Microsoft and VUE Software

About Insphere Insurance Solutions

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Media Contacts:

Insphere Insurance Solutions Appoints Insurance Industry Veteran Kenneth J. Fasola as President and Chief Operating Officer

Insphere Insurance Solutions® Appoints Insurance Industry Veteran Kenneth J. Fasola as President and Chief Operating Officer

Kenneth J. Fasola joins Insphere Insurance as President and Chief Operating Officer; Hildebrand continues as Chief Executive Officer

About Insphere Insurance Solutions

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Media Contacts:

Insphere Insurance Solutions Commences Business As One of the Largest Independent Career Insurance Distribution Groups In America

Insphere Insurance Solutionssm Commences Business As One of the Largest Independent Career Insurance Distribution Groups In America

Insphere Insurance Solutions rolls out proprietary technology platform to provide agents with a single agent desktop across multiple carriers and product lines

About Insphere Insurance Solutionssm

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Media Contacts:

Insphere Insurance Solutions to Begin Marketing UnitedHealthcare Individual and Family Health Plans

Insphere Insurance Solutionssm to Begin Marketing UnitedHealthcare Individual and Family Health Plans

Insphere Insurance Solutions Expands its Portfolio With New Quality, Cost-Effective Health Insurance Products

About UnitedHealthcare

About Insphere Insurance Solutionssm

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Media Contacts:

Insphere Insurance Solutions Announces Long-term Care Partnership with John Hancock

Insphere Insurance Solutionssm Announces Long-term Care Partnership with John Hancock

Insphere Insurance Solutions Enhances Portfolio with Life Insurance Products from Minnesota Life

About Insphere Insurance Solutionssm

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Blackstone led investor group announces launch of Insphere Insurance Solutions

Blackstone Led Investor Group Announces Launch of Insphere Insurance Solutionssm

Phillip J. Hildebrand Named as Chief Executive Officer

About Insphere Insurance Solutionssm

About the ING Family of Companies

CAUTIONARY STATEMENT FOR PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Insphere Insurance Solutions^sm Commences Business As One of the Largest Independent Career Insurance Distribution Groups In America

About Insphere Insurance Solutions^sm

Insphere Insurance Solutions^sm to Begin Marketing UnitedHealthcare Individual and Family Health Plans

About Insphere Insurance Solutions^sm

Insphere Insurance Solutions^sm Announces Long-term Care Partnership with John Hancock

About Insphere Insurance Solutions^sm

Blackstone Led Investor Group Announces Launch of Insphere Insurance Solutions^sm

About Insphere Insurance Solutions^sm