BURNABY, BC, Sept. 16, 2019 /CNW/ – Blue Cross Life Insurance Company of Canada and Pacific Blue Cross will form an alliance, effective January 2, 2020, to bring together local service and insight, with national expertise and scale, to provide best products and services to British Columbians.
This nationally aligned Blue Cross alliance brings several new benefits that will help Pacific Blue Cross grow with advisors, plan sponsors and members. Enhancing its capabilities in underwriting, pricing, reserving, actuarial and medical underwriting allows Pacific Blue Cross to invest in more work and wellness solutions to improve health and wellbeing for British Columbians. Pacific Blue Cross will remain the primary contact for all sales, service and claims.
Pacific Blue Cross will continue to offer the products sold under its policies as a distributor for Blue Cross Life. Types of policies that are subject to the transaction are Group (Basic & Optional Life; Dependent Life; Accidental Death & Dismemberment; Optional Accidental Death & Dismemberment; Critical Illness; Long Term Disability; Short Term Disability) and Individual (Life; Accidental Death & Dismemberment; Critical Illness). Coverage for existing policyholders will continue within the current plan design.
“Pacific Blue Cross is excited to bring the benefits of a national carrier to our local expertise,” said John Crawford, President & CEO, Pacific Blue Cross. “This alliance with Blue Cross Life is a foundational building block towards improving health and wellbeing for British Columbians. We have created the ability to bring on new business with our trusted advisors while improving our value proposition to our clients and members.”
Canada’s Blue Cross plans have a long history of working together and leveraging individual strengths for mutual benefits. This milestone ensures Pacific Blue Cross is better-suited to meet the evolving benefit needs of its members, today and in the future.
“This alliance is a key milestone in our strategy to build a truly national scope; making our organization stronger and improving our ability to collaborate with other Blues Cross plans across Canada,” said Marie-Josée Martin, President & CEO, Blue Cross Life. “I look forward to working closely with Pacific Blue Cross as the newest shareholder and distributor of Blue Cross Life.”
As this alliance is subject to regulatory approval, submissions have been made to both OSFI and FICOM. The organizations are now working to advance implementation and integration activities.
About Pacific Blue Cross
Pacific Blue Cross is a Health Benefits Society and British Columbia’s number one health benefits provider. Based in Burnaby, BC, the not-for-profit organization provides health, dental, life, disability and travel coverage for 1 in 3 British Columbians through group benefits and individual plans. As part of its mission to improve health and wellbeing in BC, Pacific Blue Cross proactively supports charitable organizations across the province working to improve health outcomes.
About Blue Cross Life Insurance Company of Canada
Blue Cross Life is a federally-licensed company with operations located in several provinces.
The Company is owned by four Shareholders, operating as Alberta Blue Cross, Saskatchewan Blue Cross, Manitoba Blue Cross, and Medavie Blue Cross. It specializes in life insurance and disability income protection products to supplement the portfolio of health and dental products distributed by its Shareholder Blue Cross Plans.
SOURCE Pacific Blue Cross