SOURCE: Novus Acquisition & Development Corp.

Novus Acquisition & Development Corp.

March 08, 2016 09:15 ET

Novus Expands Insurance Footprint, Automates Web Portal

MIAMI, FL--(Marketwired - Mar 8, 2016) - Novus Acquisition & Development Corp. (OTC PINK: NDEV), through its subsidiary Novus Medical Group, Inc. (Novus), is pleased to announce today it has upgraded its insurance web portal under the insurance umbrella of WCIG Insurance Services, Inc. (WCIG), a California insurance company, license number 0K41569.

Management is constantly assessing the improvement of Novus' business model; our goal is to diversify from a single oriented line of business, medical marijuana medical plans, to multiple insurance lines of business and revenue streams. As we witness the maturing of the medial cannabis industry, being an insurance company opens up numerous revenue segments that will create more wholesale and/or carrier channels of profitability within the lines of business of health, life, accident, annuity/variable contracts, commercial vehicle, medical marijuana, and commercial liability.

After our acquisition of WCIG Insurance, we devoted the last quarter of 2015 to the revision and the roll out of an automated insurance web portal http://getnovusnow.com. This new portal design will make Novus the online one-stop insurance entity, giving consumers instant and automated access to a range of insurance solutions, tailored specifically to their insurance profile.

To meet consumer demand Novus' portal has established a footprint in the institutional insurance business where Novus has designed to generate up to 40 insurance lines of business, automation of API gateways tied to 24 of the nation's largest insurance carriers, to take advantage of any revenue opportunity.

Novus' Chairman Frank Labrozzi states, "We have squeezed out the inefficiencies with automation, shareholders can be assured that Novus, a pioneer of MMJ medical plans and other insurance programs, will no longer be one dimensional. In our strategic assessment, we found that internationally there has been a significant increase in the amount of insurance contracts concluded via the internet. Seventy-two percent of consumers use the internet as their primary source of insurance information and procurement. Management concluded that very few insurance companies use automated technology, which led to a lower satisfaction rate and customer retention. Novus' portal will give consumers ease of benefit(s) selection, premium payments, and binding of policies. Value added, Wall Street and the insurance industry complement each other with the integration of insurers and investment banks, who are both constituents to leverage capital market positions."

With our efforts in the fourth quarter of 2015 Novus' management has procured multiple lines of health care services for mid-market consumers and institutions that are not insured or under insured with just over 100 providers online covering over 10,000 zip codes nationwide. Our current benefit packages cover, in addition to the medical cannabis, physician visits, dental, Lasik, hearing, diabetic supplies, lab services, and gain entry in the commercial liability market.

Novus' new portal can:

a. Automatically procure, retain, and service new and existing members
b. Offer, nationally, 12 flexible health benefit packages
c. Insurance Wholesaler/Aggregator: Novus' portal and search utility can allow clients to gain several quotes via an electronic e-quote format.
d. The integration of 24 major insurance carriers payment gateways for quotation, payment and binding of policies
e. Automated management for global affiliate programs for lead generation and procurement
f. Independent insurance agents enrollment; This has been especially successful at this early stage, finding that, Novus can give insurance agents more revenue opportunities since the Affordable Care Act has consistently decreased agents revenue over the past two years
g. Member only section where Novus members can select and place orders with licensed medical marijuana dispensaries via push notifications,
h. Give our providers a no cost solution to upload and display products with a piggyback on Novus' marketing backbone through email, social networking, and digital display advertising; all complimentary as being a provider of Novus
i. Automation to generate claims and the modification of insurance coverages

Novus' new portal was designed to attract, convert, optimize and retain customers, deliver high customer satisfaction with the right message to the right customer at the right time. According to Bain and Co., a financial services and insurance research company, shows, each customer that is satisfied will bring 6.3 new customers per year with a 97% renewal rate. As Novus ventures into its diversification, our goal is continual improvement as a wholesaler and carrier of insurance products that will be rewarding for our shareholders.

In conclusion, many shareholders have contacted management in relation to the lack of press releases over the past few months. It is our policy not to generate press releases that have no substance or contain a valueless message, what we recommend is the following:

1. RSS feed: http://www.getnovusnow.com/blog/rss/
2. Twitter at https://twitter.com/MMJHealthcare,
3. Updated Executive Summaries; http://www.getnovusnow.com/nmg/summary.aspx

This will keep shareholders informed and up-to-date of our growth and milestone achievements.

About Novus

Novus Acquisition & Development Corp. (NDEV), through its subsidiary Novus Medical Group, Inc. and WCIG Insurance, provides health insurance and related insurance solutions within the wellness and medical marijuana industries in states where legal programs exist. Novus has positioned itself to gain market share within many lines of insurance business within and outside of the MMJ sector.

Novus will work as outside developers and will not cultivate, handle, transport grow, extract, dispense, put up for sale, put on the market, vend, deliver, supply, circulate, or trade cannabis or any substances that violate the United States law or the Controlled Substances Act, nor does it intend to do so in the future and will continue to follow state and federal laws. The statements made about specific products have not been evaluated by the United States Food and Drug Administration (FDA) and are not intended to diagnose, treat, cure or prevent disease. All information provided on these press releases or any information contained on or in any product label or packaging is for informational purposes only and is not intended as a substitute for advice from your physician or other health care professional. Once a push notification is competed the transaction is solely between the state-licensed dispensary and the registered patient.

The state laws are in conflict with the federal Controlled Substances Act. The current administration has effectively stated that it is not an efficient use of resources to direct federal law enforcement agencies to prosecute those lawfully abiding by state designated laws, allowing the use and distribution of medical marijuana. However, there is no guarantee that the current administration, nor any future administration, will not change this policy and decide to enforce the federal laws strongly. Any such change in the federal government's enforcement of current federal laws could cause significant financial changes to Novus Medical Group. While we do not intend to harvest, distribute or sell cannabis or cannabis related products, we may be harmed by a change in enforcement by federal or state governments.

Safe Harbor

This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Novus Medical Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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