On Friday I published a note whereby I described my failed attempt to establish evidence of an established "Captive Broker" platform selling Medicare Advantage for HIIQ.
Later that day I was able to find a separate subsidiary of HIIQ named "Total Insurance Brokers, LLC" that (upon calling them) confirmed they were directly selling Humana Plans.
Upon researching "Total Insurance Brokers, LLC" I found that an individual named Robert Kneeter, former Chief Marketing Officer at Simple Health/Health Benefits Center, Corp now works for/with them.
This additional connection between HIIQ and "Simple Health" highlights the questions I brought up concerning how robust the compliance platform can be given that the company is just now entering the broker space.
The debate that kicked off this work was born out of the last quarterly conference call. The results of the quarter were very disappointing, HIIQ missed the FactSet revenue expectations by $14.7m (or over 16%).