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Successful Strategic Alliances

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Successful Strategic Alliances. Inter-Company Marketing Group. 24th Annual Meeting & Conference ... Associate VP, Nationwide Health Plans. Brian Robertson, EVP, ... – PowerPoint PPT presentation

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Title: Successful Strategic Alliances


1
Successful Strategic Alliances
  • Inter-Company Marketing Group
  • 24th Annual Meeting Conference
  • February 6, 2008

2
Todays Objectives
  • Learn the motivations behind strategic alliances
  • Identify the characteristics of successful
    strategic alliances
  • Examples of successful (and unsuccessful)
    strategic alliances
  • Prescriptions for keeping alliances healthy for
    the long term

3
Todays Panel
  • Jim Kenneally, Chief Marketing Sales Officer,
    HPA
  • Tom DeNoma, Associate VP, Nationwide Health Plans
  • Brian Robertson, EVP, Fringe Benefit Group
  • Michael Shevlin, SVP, Munich Re America Healthcare

4
  • Strategic Alliances
  • Jim Kenneally
  • Chief Marketing Officer
  • Health Plan Administrators

5
To Be or Not To Be (the expert)
  • Motivators Behind Strategic Alliance
  • Geography
  • Product
  • Process
  • Management- Financial and Administrative
  • Distribution
  • Mutual Admiration Society

6
Characteristics of Success
  • Know your Strengths and Weaknesses
  • Proper Expectations
  • Financial
  • Sales
  • Plan for the Future
  • Two-Way Street
  • Operational
  • Exit Strategy

7
IHC Strategic Success
  • Aegon Companies
  • Fidelity Security
  • BCBS of AZ
  • Maxin Insurance Group

8
Long-Term Success
  • Know Who You Are
  • Know Who You Want To Be
  • Know Who Your Partner Is
  • Try To Know Who Your Partner Wants To Be
  • Have Clear Expectations on Both Sides for
    Measurements of Success

9
  • Nationwide Specialty Health (NSH)Why Strategic
    Alliances?
  • Tom DeNoma
  • Associate Vice President
  • Nationwide Health Plans

10
Characteristics of a Successful Strategic Alliance
  • Alignment of Interest
  • Strategic
  • Financial
  • Both Parties bring something to the table
  • Trust your partner to do the right thing or work
    to fix it
  • Underwriting
  • Reputational
  • Break bread before you make bread

11
NSH Four Market Segments
  • Sports Leisure
  • KK
  • Education
  • CHP
  • GM Southwest
  • Travel
  • Meridan
  • Employer
  • Medical Stop Loss RMTS
  • Group ADD StarLine
  • Limited Medical Fringe
  • Generic Rx - Medco

12
What keeps an alliance healthy for the long term?
  • Both parties need to be involved
  • Look for ways to help each other grow
  • Trust / Relationship
  • Both parties need to win
  • Allow partners to do what they do best
  • Strategic Fit

13
  • Strategic Alliances
  • Brian Robertson
  • Executive Vice President
  • Fringe Benefit Group

14
Fringe Benefits Group
  • Marketing organization and TPA
  • Proprietary products
  • History of Strategic Alliances
  • Successful alliances with
  • Nationwide
  • Standard Security Life (IHC)
  • John Hancock
  • Transamerica
  • United Healthcare

15
Strategic Alliances for Program Managers
  • Find the right carrier
  • Add unique value
  • Create clear boundaries
  • Communicate, Communicate, Communicate

16
  • Strategic Alliances
  • Mike Shevlin
  • SVP, Business Development
  • Munich Re America HealthCare

17
Motivations Behind Strategic Alliances
  • Growth without increasing resources
  • Leap-frogging several steps in the development
    process
  • Accessing Best in Class expert resources
  • Adding credibility through the endorsement affect
  • Leveraging skills and assets

18
Characteristics of Successful Strategic Alliances
  • Well-defined Goals will dictate your needs
  • Objectives of an alliance should benefit all
    parties
  • Joint planning and decision making involve all
    parties
  • Trust, openness, and information sharing
  • Staff / Key member continuity

19
Examples of Successful Strategic Alliances
  • Small Group Medical
  • Risk Taker, Program Administator, Fronting
    Carrier, Actuary
  • 2. Individual Medical
  • Risk Taker, Program Administrator, Fronting
    Carriers, Actuary
  • 3. Mini Medical
  • Risk Taker, Program Administrator, Fronting
    Carrier, Actuary

20
Examples of UNsuccessful Strategic Alliances
Carnivorus Vulgarus and Velocitus Delictibus
21
What Keeps an Alliance Healthy for the Long Term?
  • Communication
  • Communication
  • COMMUNICATION!
  • Good Results
  • Joint efforts / projects (not just sharing
    prospect lists!)
  • Flexibility / Adaptability to Changes

22
  • Thank you very much
  • for your attention!
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