Renaissance Life & Health Insurance Company of America has signed an agreement to acquire Ansel Health, the insurtech that redesigned supplemental health cover by paying members cash on diagnosis of more than 13,000 medical conditions.
The deal, still subject to regulatory approvals and closing conditions, will give Renaissance both Ansel’s technology and its team, while ensuring continuity for partners and products.
The move extends a partnership already underway. Over the past year, the two firms collaborated to launch RenSecureHealth, designed to close gaps left by high-deductible health plans and rising out-of-pocket costs.
The product provides fast payouts employees can use for medical bills, lost wages, or other expenses.
Renaissance CEO Diana Steinhoff said Ansel’s innovation has reshaped how supplemental benefits are delivered.
After witnessing firsthand the value that Ansel adds to our organization and the clients we serve, we’re thrilled to welcome Ansel to Renaissance
Diana Steinhoff, LMHC, president and CEO of Renaissance
“With the development of RenSecureHealth, we’ve recognized the tangible benefits their innovation provides. Ansel has changed how supplemental health can be delivered, and by joining forces, Renaissance is committed to being at the forefront of this transformation and shaping the future of employee benefits,” said Diana Steinhoff.
“This acquisition is an exciting next step in our partnership with Renaissance and our shared mission to help make health hardships less of a financial burden for Americans nationwide,” said Veer Gidwaney, founder and CEO of Ansel.
This partnership supports Renaissance’s mission to empower brokers and employers with market-leading, flexible solutions that address the evolving needs of their customers.
Veer Gidwaney, founder and CEO of Ansel
With the increasing costs of health care, prevalence of high-deductible health plans, and struggles many Americans face to manage unexpected health costs, RenSecureHealth provides a cost-effective way for employers to enhance their benefits packages.
Employee members with RenSecureHealth gain fast financial support they can use toward medical bills, lost wages or other expenses. While the acquisition is subject to customary closing conditions and any necessary regulatory or other approvals, Renaissance and Ansel are focused on maintaining continuity for all partners to ensure there are no disruptions to service to Ansel partners or RenSecureHealth products.
Renaissance will acquire technology assets as well as the talented professionals supporting the Ansel solution. Brokers, employers and members will continue to work with their trusted Renaissance and Ansel teams.
Integrating Ansel’s technology will amplify our capabilities, efficiency and innovation, opening up new product opportunities and providing a seamless benefits experience for all stakeholders
Diana Steinhoff, LMHC, president and CEO of Renaissance
“This strategic move supports our long-term vision to broaden our offerings, reach new markets, and reinforce our position as a leader in innovative benefit solutions,” Steinhoff stated.
Renaissance will integrate Ansel’s technology into its platform, aiming to accelerate product development and enhance efficiency.
The company said the acquisition supports its long-term vision of broadening offerings, expanding reach, and strengthening its position as an innovator in ancillary and supplemental benefits.
