Stonebrook Risk Solutions Assembles Network of Strategic Partners

(Credit: Mark Angard) Mark Angard
August 9
11:52 AM 2022

In just over a year, Stonebrook Risk Solutions has assembled an unprecedented collection of partners in its bid to build a nationwide network of regional health plans and hospitals.

Stonebrook Risk is a California-based Insurtech and Fintech start-up with a massive vision: to disrupt the big nationwide health insurance conglomerates with superior patient outcomes at a lower cost.

To do so, the company has enlisted best-of-breed partners from all aspects of the health insurance marketplace, from highly respected regional hospital systems, innovative medical management companies, pharmacy benefits managers, brokerages, technology providers, and insurers, to come together and challenge the BUCA marketplace. (Blue Cross and Blue Shield, UnitedHealth Group, Cigna, and Aetna).

"Nationwide health insurance in the United States is inherently flawed," said Stonebrook CEO Mark Angard. "It's designed to offer limited coverage at the highest prices, with little transparency and accountability. It's no wonder that people struggle with their plans and their costs."

By contrast, regional health plans tend to have much higher patient satisfaction rates at a lower cost because they are accountable to their local communities. These plans, however, are limited geographically with an inability to scale nationally, which makes insurance coverages challenging for multi-state employers seeking a community-based approach. 

"All of our partners are plugged into Stonebrook Total Value Analytics (STVA) and integrated on our diverse "state of the art" platform," explained Angard. "This means they can take advantage of other regional plans' best practices in maximizing patient care and controlling costs while simultaneously allowing companies to underwrite plans that include multi-state employers. It's a classic win-win-win because employees can get better care and incur lower costs to their employers while the best local providers can grow and share their success nationally."

Stonebrook chose its partners strategically to maximize the value of the entire ecosystem through economic efficiency and scalability. The partners who've integrated with Stonebrook Risk are widely varied to cover all aspects of health insurance and medical management:

  • Renalogic, an investor in Stonebrook, is disrupting the kidney dialysis industry with cost containment programs that have saved patients over $1 billion dollars.

  • Guardian Life, one of the largest mutual companies focused on the holistic well-being of its members, is offering its products and services through Stonebrook.

  • RxBenefits is a pharmacy benefits management company consistently featured on the Inc 5000 List because it helps thousands of employees and their dependents control prescription costs.

  • Wellfleet, a Berkshire Hathaway company, well-known in the insurance market, offers its supplemental insurance products through Stonebrook.

  • Mphasis, a leading healthcare technology provider, is creating the underlying systems for Stonebrook Total Analytics and the integrated platform.

  • Reliance Standard Life Insurance Company is a leading provider of supplemental health benefits solutions that will be offered through Stonebrook.

  • Maxor, a National Pharmacy Services pharmacy benefits management company renowned for customer service and technical expertise and will help Stonebrook control costs.

  • Symetra, a life insurance company and a leader in employer stop loss products, will be available on the Stonebrook platform.

  • HSA Bank is a health-savings program that will allow patients to take advantage of HSAs to pay medical expenses.

  • Woodruff Sawyer, a San Francisco-based insurance brokerage and Stonebrook investor, has a long history of disrupting markets through technical innovation.

  • Starline is an underwriting management organization specializing in Medical Excess of Loss in Managed Care and Employer Stop Loss is a Stonebrook investor. 

  • Laguna Health manages post-acute care to lower costs by reducing unnecessary hospital readmissions while ensuring patient safety by lowering the number of costly readmissions.

  • Liberty Mutual, a diversified global insurer and the sixth-largest insurer in the US. It ranks 71st on the Fortune 100.

  • HCC Tokio Marine, a leader in employer stop loss nationwide, with strong expertise in captive insurance.

  • Nayya, one of the leading decision support enrollment companies in the market with cutting-edge technology.  

"Each of our strategic partners is individually very impressive," notes Mark Angard. "But, combined on our integrated platform, their offerings present a powerful alternative to regional health plans and employers across the country and represent a massive market disruption and shift in what is expected from healthcare in the U.S.

Stonebrook continues its pursuit of cutting-edge solutions and health plans to bring value back to employers and employees across the country. Soon to be added are patient navigation, behavior health, transplants, MSK, and Centers of Excellence, as the digital marketplace continues to expand.  

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