PR Newswire | 30 Mar, 2015
BANGALORE, India: Hinduja Global Solutions Limited, announced acquisition of majority stake in Colibrium Partners LLC and Colibrium Direct LLC (Colibrium). The acquisition has been made by HGS Colibrium Inc, a US subsidiary of HGS, which would own 89.9% of Colibrium and the balance will be held by the founders. For the year ended 31st December 2014, Colibrium reported revenues of US$ 12.6 mn.
HGS already serves Fortune 100 health insurance clients, providing a broad array of services in both the administrative and clinical functions. The addition of Colibrium Partners and Colibrium Direct brings complementary platform and servicing capabilities in the sales and enrollment area for the US and global health insurers.
Colibrium is an innovation leader in delivering sales, service and wellness automation to health plans. The Colibrium developed, cloud-based platform provides an easy-to-implement health insurance portal that integrates with enterprise CRM platforms such as Microsoft Dynamics, and facilitates end-to-end workflow automation capability. Health insurance plans using the system are 30-40% more efficient in acquiring new members and providing services over the course of the customer lifecycle.
"Colibrium's integrated CRM provides health plans true end-to-end sales and service capabilities. Improved service levels, marketing campaign precision and business intelligence are just a few of the benefits we're seeing Colibrium CRM customers achieve," said Brian Cardinell, Microsoft's US Dynamics Lead for Health [from release dated May 13, 2013].
This acquisition of a health insurer technology and services company in the US market complements and increases the already strong healthcare payer servicing capability of HGS. The cloud-based platform for online self-service combined with a pool of licensed health insurance agents are the key drivers behind this acquisition. Colibrium brings in expertise in sales and marketing of health insurance exchanges, the employer group market and brokers. These capabilities address a known need in the rapidly growing market for turnkey health insurance purchasing and enrollment solutions. Additionally, HGS and Colibrium's healthcare insurance clients will benefit from the combined capabilities of the two businesses.
"With more than 30 clients, a leading technology platform and several hundred licensed health insurance agents, this investment in the fast evolving health insurance market represents a significant competitive advantage for HGS. We are already recognized as one of the largest and most capable providers of outsourced business process management to the health insurance industry," said Partha DeSarkar, Chief Executive Officer, HGS.
"Colibrium brings sales and marketing capabilities and depth to provide health insurance companies comprehensive people, process and technology solutions to dramatically improve member acquisition and retention results," said Ramesh Gopalan, EVP, HGS Healthcare Services. "HGS' mission is to grow market share with value creation and that requires investments in market leading innovators like Colibrium."
"We're excited to have HGS as not only an investor, but a strategic partner," said Mark Poling, Chief Executive Officer, Colibrium Partners. "Our customers are using our software and BPO services to transform the way they do business as we're enabling the end-to-end consumer journey via enterprise CRM, mobile, phone and online capabilities. This investment enables us to expand our award winning Tuo software platform and call center BPO services and meet our customers' evolving needs in the rapidly changing health insurance space."
HGS is a leader in optimizing the customer experience and helping our clients to become more competitive. HGS provides a full suite of business process management services from marketing and digital enablement services, consumer interaction services to platform enabling back office business services. By applying analytics and interaction expertise to deliver innovation and thought leadership, HGS increases revenue, improves operating efficiency and helps to retain valuable customers. HGS expertise spans the telecommunications and media, healthcare, insurance, banking, consumer electronics and technology, retail, consumer packaged goods industries, as well as the public sector. HGS operates on a global landscape with 28,000 employees in 60 worldwide locations delivering localized solutions. For the year ended 31st March 2014, HGS had revenues of US $412 million. HGS, part of the multi-billion dollar Hinduja Group, has over four decades of experience working with some of the world's most recognized brands.
About Colibrium Partners
Colibrium Partners brings unmatched experience and the most comprehensive sales, service and wellness automation technology platform available today. TuoÂ® provides health insurance plans a unified Marketing, Sales, Underwriting, Care Management and Service platform enabling business functions to be unified, working together across traditional, online, social media and mobile channels. Colibrium also provides a pre-configured CRM (Customer Relationship Management) platform designed specifically for the health insurance industry.