National Ancillary Benefits Carrier Renaissance to Acquire Utah-Based Dentist Direct
Transaction expected to create strategic growth opportunities
Nov 09, 2021, 11:41 ET
INDIANAPOLIS, Nov. 9, 2021 /PRNewswire/ -- Renaissance Life & Health Insurance Company of America, a national insurance carrier specializing in dental, vision, life and disability coverage today announced it has reached an agreement to acquire Dentist Direct, a Utah-based dental and vision insurance carrier, and its affiliate Direct Access, a discount dental plan provider. With a shared white-glove service philosophy of delivering an outstanding benefits experience by the companies, the acquisition will fuel expansion opportunities for all three organizations.
"This acquisition is an important step in our strategic growth at Renaissance, because it not only broadens our geographic presence in the western U.S., but also augments our dental network, and strengthens our team with the addition of an exceptional group of smart, like-minded professionals," said Robert P. Mulligan, President and Chief Executive Officer of Renaissance.
"Through creativity, agility and a commitment to doing what is right for their partners and members, Dentist Direct has rapidly grown from a start-up to a strong regional carrier, specializing in dental and vision insurance," said Jeff Kolesar, Chief Operating Officer of Renaissance, who will assume responsibilities as Chief Executive Officer of Dentist Direct. "Renaissance will help Dentist Direct add more value for customers by offering complementary coverages such as life and disability insurance," he added.
Beyond the change in ownership, Dentist Direct will continue to operate with the same dedicated team, delivering exceptional products and services. The company also has developed a proprietary local dental network, which will remain in place. In addition, Dentist Direct plans offer more than 260,000 dental access points nationwide. Founded in 2005, Dentist Direct now serves more than 60,000 members.
President of Dentist Direct, Preston Homer echoed excitement about the synergies the companies share. "While Renaissance is significantly larger than Dentist Direct and offers opportunities for us to grow our product offerings beyond dental and vision insurance in the future, the company understands the importance and value of maintaining a local presence," said Homer. "Their approach to providing a flexible, friendly experience for customers of every size is perfectly aligned with our service model."
Renaissance provides innovative product features and unique solutions that help customers experience better overall health, while enjoying easy-to-manage benefits and competitive pricing. Renaissance has received an A (Excellent) Financial Strength Rating from AM Best.
About Dentist Direct
With its headquarters in Bountiful, Utah, Dentist Direct is a dental benefits company with a robust national network and a commitment to personalized service. The company offers dental and vision benefits and specializes in small and large group fully insured plans, ASO (self-funded) plans and network leasing for TPAs and large employer groups.
Renaissance Life & Health Insurance Company of America and its sister company Renaissance Life & Health Insurance Company of New York offer ancillary benefits for employer groups and individuals nationwide. Dental, vision, life and disability insurance comprise the core line of the company's ancillary benefits solutions. With headquarters in Indianapolis, Ind., Renaissance is focused on providing its members and partners with outstanding products and service. Visit renaissancebenefits.com and find us on Facebook, LinkedIn and Twitter.
SOURCE Renaissance Life & Health Insurance Company of America
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