Risk Strategies Company Acquires University Health Plans
Student health insurance specialist joins established national Higher Education Practice group
BOSTON, January 18, 2017 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced the acquisition of University Health Plans (UHP), a brokerage firm specializing in student health insurance programs. The move adds significantly to the company's leading Higher Education Practice group. Terms of the deal were not announced.
Based just outside Boston in Quincy, Mass., UHP works with colleges and universities to provide quality and affordable health insurance to their diverse student populations.
Student health insurance plans offered by higher education institutions typically serve a desirable, younger demographic. As employer-sponsored health insurance plans change, often carrying higher deductibles and imposing restrictive provider networks, student health insurance plans generally offer a national network of providers and access to worldwide coverage, with lower deductibles, copayments, out-of-pocket maximums and premiums.
"Bill has built out a robust business in a highly specialized space that, being web-based, is right in step with both the times and the end users of the service," said John Cerasani, managing director of Risk Strategies Company's Higher Education Practice. "We see UHP's specialized focus in this market as highly complementary to our own expert-based approach."
Built on a proprietary, web-based platform, UHP makes it easy for students of client institutions to navigate the school-sponsored student health insurance program and make an educated decision on whether to waive or enroll in that program. Students also have the option to select from a wide array of ancillary coverages such as vision, dental, and a variety of international health insurance plans for students traveling.
"At a time when clients are looking for simplified access to the expertise that can help them solve complex problems, like insurance, becoming part of Risk Strategies and its nationally recognized Higher Education Practice makes sense for us and our clients," said UHP Founder and CEO, Bill Devine.
Risk Strategies' Higher Education Practice is one of the nation's leading risk management groups focused on the specialized needs of institutions of higher learning. UHP works with over 80 higher education clients, while Risk Strategies Company's national Higher Education Practice counts well over 100 colleges and universities among its clients.
To learn more about Risk Strategies, please visit www.riskstrategies.com
About Risk Strategies
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles, and San Francisco. RiskStrategies.com.