Under the deal, LifeMap will become part of the USAble Life brand; in addition, USAble Life will manage Regence Dental products.
Life & Specialty Ventures and Cambia Health Solutions announce a strategic collaboration designed to improve the medical-dental care and financial wellbeing of the people and families navigating care. Under the deal, pending regulatory approval, Cambia’s LifeMap ancillary insurance business will become part of Life & Specialty Ventures’ USAble Life ancillary insurance business; also, under the new partnership, USAble will manage Regence Dental products. Cambia will gain an ownership position and Board representation in Life & Specialty Ventures.
Both LifeMap and USAble Life have successful, multi-decade histories of serving Blue Cross and Blue Shield plan members. The partnership brings together substantial expertise and scale into an organization that will support 1.7 million ancillary members and 1.5 million dental members across 17 Blue plans. Chris Blanton, Cambia’s Senior Vice President Commercial and Ancillary Markets, noted, “We are proud of the growth and consumer focus LifeMap and Regence Dental represent. The opportunity to combine our success with USAble’s and deliver an even better experience and greater care for our members is exciting and will result in extended expertise and increased operating scale that ultimately benefits the people and families we serve.”
USAble currently employs almost 500 employees and operates two business hubs today – corporate headquarters based out of Little Rock, AR, and a second hub in Jacksonville, FL. It also has offices in Nashville, TN, Birmingham, AL, and Honolulu, HI. LifeMap employs almost 100 employees and is based in Portland, OR. “We are eager to add LifeMap’s talented, caring teammates to our own, creating our new West Coast hub,” shared Rich Macy, Chief Operating Officer of Life & Specialty Ventures.
USAble Life will be making LifeMap’s products its own, re-branding them USAble Life, and introducing new and innovative products, currently unavailable in LifeMap’s markets. These products will continue to be sold and serviced by Portland-based teams. For Regence Dental Products, USAble Life will take on managing, marketing, developing, underwriting, and reinsuring responsibilities. The products will retain the Regence brand and continue to be sold by Regence sales professionals.
More information on all the companies is available at cambiahealth.com, lifemapco.com, and usablelife.com/power-of-partnership/.
