BOSTON, MA--(Marketwired - Jan 18, 2017) - Risk Strategies Company, a privately held, rapidly growing national insurance brokerage and risk management 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.
About Risk Strategies Company
Risk Strategies Company is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, non-profits, public entities and individuals, and has access to all major insurance markets. Ranked among the top 20 brokers in the country, Risk Strategies has offices in more than 35 locations nationwide including Boston, New York City, Chicago, Miami, Atlanta, Dallas, Nashville, Los Angeles and San Francisco.