Senior Market Sales – InsuranceNewsNet

2022 Sep 09 (NewsRx) — By a News Reporter – Staff News Editor at News Mergers & Acquisitions — Senior Market Sales® (SMS), one of the industry’s leading insurance marketing organizations, has acquired CareValue, a growing national field marketing organization (FMO) based in Canandaigua, New York Stateand specialized in life and health insurance for seniors.

SGS President Jim Summers said CareValue’s technology platform, success as a market leader serving independent insurance agents and impressive growth has attracted SMS as it continues to grow through strategic acquisitions since its acquisition by Alliant Insurance Services in 2020. CareValue ranked #69 on Inc.’s list. Magazine of the fastest growing private companies in the world New York City metropolitan area in 2021.

“Combined with proprietary SMS technology, CareValue’s technology stack will give SMS-contracted agents a major advantage in today’s market,” Summers said.

CareValue has invested heavily in developing proprietary technology for agents. For example, the company provides the only State Pharmacy Assistance Program offered by FMO (SPAP) in the marketplace that allows agents in select states to help their customers request assistance with paying for their prescription drugs and/or Part D premiums digitally rather than the more cumbersome methods of fax or mail. This digital enrollment process triggers a Special Election Period (SEP) for Medicare-eligible people, allowing them to enroll year-round.

“Formalizing this partnership with SMS through an acquisition will fuel additional growth and ensure long-term success in our markets,” said the president of CareValue. Brian Doyle. “By extension of SMS, we are also delighted to join the Alliant family. Together we are bigger, better, stronger.

Doyle has worked in the insurance industry since 1996. He founded CareValue in 2010, and since 2013 has partnered with SMS, leveraging SMS’s industry-leading back-office support, proven marketing systems and… a portfolio of leading healthcare and wealth management products.

The decision to join SMS, Doyle said, was based on Alliant and SMS’s ability to provide additional infrastructure and support that will help CareValue expand into new territories and ensure long-term growth, as well as to focus even more on agents to deliver operational services and customer service excellence. Specifically, CareValue was attracted to Alliant, which opens the commercial and group insurance markets to CareValue agents. Alliant, one of the largest insurance brokers in United Stateswas recently honored as a 2022 Fast Brokerage List Winner with 9,000 employees, $3 billion in turnover, and more than $26 billion in premiums.

Doyle said CareValue was also drawn to SMS for its groundbreaking new lead generation platform Client Stream® Lead Exchange, its track record of successful acquisitions, and its integrity — doing what it promises and passionately serving agents and their customers.

Summers said aligning the values ​​of the two companies was key to the partnership, just as it has been to all SMS acquisitions.

“In today’s hyper-competitive acquiring environment, SMS continues to stand out for its commitment to the agent and its client,” Summers said. “We look forward to growing even further by staying focused on our values ​​and partnering with companies that share those values.”

(Our reports provide factual information on research and discoveries around the world.)

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