Guy Carpenter today announced the launch of its new US Healthcare & Life Specialty Practice which will focus exclusively on the unique needs of health providers and insurers in this evolving segment. The practice will consist of a team of more than 50 health, healthcare and life broking professionals and actuaries dedicated to helping clients develop and implement strategies to best underwrite and manage the unique risks of this expanding and specialized market.
“The US healthcare insurance environment is undergoing rapid and profound changes, especially with the implementation of the Affordable Care Act,” said Andrew Marcell, Managing Director and Chief Executive Officer of US operations at Guy Carpenter. “With previously independent coverages converging and new exposures emerging, and to better help our clients adapt to these challenges, Guy Carpenter has integrated its Life, Accident & Health and Medical Professional Liability specialties to form the Healthcare & Life Specialty Practice. Guy Carpenter is singularly focused on this evolving and specialized market, and is committed to offering clients seamless and innovative coverage solutions across the health, healthcare, life and accident continuum.”
Payers and providers are facing a variety of new exposures and market developments as a result of the Affordable Care Act and its impact on the US healthcare industry. Guy Carpenter’s Healthcare & Life Specialty Practice provides analysis of emerging claims trends, torts costs and reinsurance market developments for healthcare providers as well as analytics and reinsurance solutions for clients facing new operating models and expanded liabilities. The Affordable Care Act has caused ripple effects throughout the employee benefits market - from core benefits like Disability and Life, to voluntary coverages and indemnity plans. The specialty practice helps insurers and managing general underwriters identify the effects of changing insured populations, emerging risks and new distribution models. Additionally, the practice provides risk management solutions to an extensive specialty benefits network and can assist with solutions tailored to the unique risks of consumer insurance.
“Healthcare provider roles have been redefined, medical insurers are facing unprecedented changes and specialty benefits insurers are reacting to tremendous potential challenges in how benefits are sold and distributed,” said David Rains, Co-Leader of the Healthcare & Life Specialty Practice at Guy Carpenter. “Our team provides all our clients with the world-class expertise, strategic advice and practical solutions they need to reach their full growth and profit potential.”
“Guy Carpenter’s global reach and experience allows us to deliver significant intellectual capital and leading market knowledge about the challenges now confronting our clients,” said Steve Underdal, Co-Leader of the Healthcare & Life Specialty Practice at Guy Carpenter. “We have access to a worldwide network of life and healthcare reinsurers. And we continuously innovate, resulting in new products, superior analytics and improved coverages for our clients.”