Farmers Branch health insurance products provider NCD has acquired New York-based Tenure Health, an innovator in Medicare-focused benefits.
“The acquisition of Tenure Health’s industry-leading product innovation capabilities will meaningfully accelerate NCD’s next phase of growth,” NCD CEO Sam Melamed said in a statement. “Having closely observed many changes and challenges in the health insurance market over the past several years, we have strong conviction in Tenure Health’s unmatched capability to purpose-build products for the go-forward needs of health consumers.”
Terms of the deal were not disclosed.
NCD aims to build, operate, distribute, and manage exceptional supplemental health insurance products. As part of the transaction, Bret Voith, Tenure Health’s founder and CEO, will join NCD as its chief strategy officer.
NCD said the deal joins two complementary companies to form an “unmatched” platform serving health consumers’ comprehensive healthcare needs.
“Tenure Health’s innovative approach to product development, provider partnership, and distribution enablement will be greatly enhanced in combination with NCD,” Voith said in a statement. “We’re thrilled to embed Tenure Health’s competencies within NCD’s existing and expanding portfolio of offerings, providing the opportunity to serve the needs of an increasingly diverse set of individual and group clients. NCD is the best rated insurance plan in the country on Google and we’re excited to keep delighting customers with additional innovative products.”
NCD said it differentiates itself on white-glove service, answering more than 90% of customer calls within 30 seconds and responding to 98.5% of agents’ questions within one hour.
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