Prudential shuts down Assurance IQ

[Tahoe Ray]

From my understanding, they did it in the middle of the work day too. Wild.

Prudential really took a bath on this one.

Prudential shuts down Assurance IQ

Prudential has made decision to shut down the operations of Assurance IQ.

coverager.com

 

[DonP]

Yep all on the Medicare face book pages yesterday afternoon . Over a 1000 agents let go on the spot . Shut computers down immediately. Brokers scrambling for a home . Pru paid $2.8 billion for them . Lost it all . I’ll say again . Medicare Advantage using leads for mostly low income can’t be sold over phone. Persistency is 50-60% as you must do low income face to face and establish a relationship. No other way period . I replace 20 plus call center plans a month

 

[straightnochaser]

Good, absolute pariahs in the medicare world.

 

[rmhaire]

From my understanding, they did it in the middle of the work day too. Wild.

Prudential really took a bath on this one.

Prudential shuts down Assurance IQ

Prudential has made decision to shut down the operations of Assurance IQ.

coverager.com

You recon old school mentality had something to do with it?

 

[UKTX]

Wonder if their interpretation of the new CMS rule on DSNP seps has had a play in this....since that's their business model.

Some saying quarterly "updating/maintaining" SEP gone, others saying its monthly.

 

[Special Agent]

Wonder if their interpretation of the new CMS rule on DSNP seps has had a play in this....since that's their business model.

Some saying quarterly "updating/maintaining" SEP gone, others saying its monthly.

i would think it has more to do with vastly reduced expected lead flow they can buy or sell in 2025 because of the new restrictions.

 

[Tahoe Ray]

They've been hemorrhaging money since go. Pru just had to stop the bleeding.

Changes in this market were probably just the nail in the coffin.

No idea how they sold for what they did in the first place.

 

[T Sparks]

Good Riddance

 

[straightnochaser]

hopefully selectquote and ehealth to follow

 

[DonP]

Wonder if their interpretation of the new CMS rule on DSNP seps has had a play in this....since that's their business model.

Some saying quarterly "updating/maintaining" SEP gone, others saying its monthly.

Yes some are saying monthly . But what I’m reading it sounds like to move monthly it has to be integrated dual . We’ll see . I’m pretty sure within a few yrs all duals will either be noncommissionable or all done by the state . Some states already have no duals . Obviously if this happens most call centers will close down . That’s 80-90% of there business