News

NEWS RELEASE

iiSi and Spectrum are combining operations.

San Francisco, CA & Indianapolis, IN - iiSi and Spectrum, each a division of Companion Life Insurance Company, are combining operations in 2024. iiSi’s strength in the large-group and RBP space, combined with Spectrum’s strength in the small-group, level-funded and program management space perfectly complement each other, and the collective product offerings will be formidable for brokers, benefits consultants and TPAs seeking the absolute best stop loss solutions available for employer groups and stop loss captives. The transition to one organization will take place during the first half of 2024, and once completed, the combined divisions will operate under the iiSi brand, with select products, services and programs offered under Spectrum Solutions.

The Executive and Department leaders of the combined operations are:

• Jon Anderson, Chief Executive Officer & President
• Kurt Ridder, Chief Revenue Officer
• Jim Henry, Chief Marketing Officer
• Paul Rovira, Chief Financial & IT Officer
• Joe Martin, Chief Operating Officer
• Eric Wunderly, Vice President of Underwriting
• Tony Matthews, Vice President of Underwriting - Spectrum Solutions
• Belinda Moss, Vice President of Medical Risk Management
• Laurie Mollé, Vice President of Claims
• Marla Thombleson, Vice President of Administration
• Fatima Rodriguez, Vice President of Operations
• Daniel Richards, Controller
• Tina McElroy, Office Manager

Kurt Ridder, Spectrum’s President, commented, “In early 2023, through conversations with Jon Anderson and Jim Henry of iiSi, it struck me that we share a common vision of what a full-service medical stop loss MGU should be, and more importantly, what it can be. At that point, I began developing the idea that our combined operations would be even more impressive than they are separately, and that the opportunity for growth, profitability, and enhanced products/services was off the charts. I pitched the idea to Jon and Jim and they 100% agreed that this was a perfect path forward. From there, we developed a plan, presented it to Companion and now we’re off to the races!”

Jon Anderson, iiSi’s President, commented, “Over the past several years our organizations have increasingly collaborated on finding solutions to the challenges we face in the stop loss marketplace. Through this spirit of cooperation, we realized our companies share a common vision to provide excellent service and products to our policyholders and producers, generate profitable results for our risk takers, and maintain a family-oriented and flexible work environment where our employees can thrive. Keeping these three objectives in mind will keep us grounded, balanced and successful. I’m excited to see what our combined teams can achieve.”

Mark Smidt, Companion Life’s Vice President of Employer Stop Loss, added, “From the outset, Companion Life has endorsed iiSi’s and Spectrum’s proposal to merge. Over decades, iiSi and Spectrum have become widely recognized as industry leaders in their respective employer stop loss market segments. Uniting the two teams under one banner will provide their respective customers an enhanced product offering and an even more robust customer service experience. iiSi and Spectrum have each built reputable legacies of effective risk management solutions and have earned trust among policyholders, producer partners, and risk-takers. We are very excited to see what they’ll accomplish together.”

About iiSi – a division of Companion Life Insurance Company

Founded in 1983 as Intermediary Insurance Services, Inc. and acquired by Companion Life in 2009, iiSi is a full-service provider of medical stop loss products for self-funded employers. iiSi’s broad product portfolio includes specific and aggregate stop loss with specific advance, aggregate accommodation, terminal liability, and no-laser renewal options. It is also an industry leader in the Reference Based Pricing space. iiSi is headquartered in San Francisco, CA. Visit www.iisinet.com.

About Spectrum – a division of Companion Life Insurance Company

Founded in 1990 as Spectrum Underwriting Managers, Inc. and acquired by Companion Life in 2016, Spectrum is a full-service provider of medical stop loss insurance for self-funded employers as small as 15 employees. Spectrum’s broad product portfolio includes specific and aggregate stop loss with specific advance, aggregate accommodation, terminal liability, and no-laser renewal options, as well as its innovative Integrated Stop Loss, a level-funded product designed to ease an employer’s transition from fully-insured coverage to true self-funding. Spectrum is headquartered in Indianapolis, IN. Visit www.spectrumhq.com.

About Companion Life Insurance Company

Headquartered in Columbia, SC, Companion Life has specialized in employee benefits since 1971. The company markets stop loss, life, dental, disability, vision, accident, GAP and limited medical insurance products as well as other insurance programs, through a network of independent agents and brokers, general agents, Companion Life’s owned divisions, and managing general underwriters. Companion Life and its affiliate carriers Niagara Life and Health Insurance Company and Companion Life Insurance Company of California are licensed in 50 states and the District of Columbia, and each carrier holds an AM Best Rating of A+ (Superior). Visit www.companionlife.com.