Insphere Insurance Solutions® Appoints Insurance Industry Veteran Kenneth J. Fasola as President and Chief Operating Officer

DALLAS and FORT WORTH, Texas, Sept. 29 /PRNewswire/ -- Kenneth J. Fasola, a 25-year veteran of the health insurance industry, has joined Insphere Insurance Solutions® (http://www.insphereis.com) as President and Chief Operating Officer. Phillip J. Hildebrand will continue to serve as the company's Chief Executive Officer.

"I am extremely pleased to announce Ken's appointment as President and Chief Operating Officer of Insphere Insurance Solutions. Ken is an experienced and talented leader, with senior executive experience at two of the nation's leading health carriers. His expertise in sales and marketing, business development, and operations as well as his experience with cultivating a national network of agent, broker, and consultant relations is ideally suited for our business strategies and will accelerate the growth of our organization," said Hildebrand.

"Ken has also worked closely with companies that are delivering innovative technology and services to our industry, which is a key part of the value proposition Insphere is committed to delivering to its agents," added Hildebrand. "His relationships with these companies and understanding of leading-edge technology will help Insphere to grow its distribution network and to expand distribution channels for the supplemental insurance and association products that we represent on an exclusive basis."

"Insphere offers agents a unique value proposition and it is perfectly positioned for exponential growth due to changes in the marketplace related to health reform and an overall reduction in the number of distribution companies in our industry," said Fasola. "I am excited about the opportunities I see for this company and I look forward to working with Phil and the rest of the management team as we implement this business strategy."

Fasola is expected to become President and Chief Executive Officer for Insphere Insurance Solutions in June 2011 when Hildebrand will become chairman of the board of directors for the parent company of Insphere. "We believe that an orderly succession plan and clarity of executive leadership are in the best interest of our agents, customers, business partners, and investors and provides important continuity for the future of our organization," said Hildebrand. "I am extremely pleased to select Ken as my successor and am confident he has the skill set to continue to build Insphere into a market-leading insurance distribution company."

Prior to joining HealthMarkets, Fasola was responsible for Humana's individual major medical, specialty and supplemental insurance operations. Prior to that, he was Chief Executive Officer for Secure Horizons, a division of UnitedHealth Group and the nation's largest Medicare Advantage insurer. Additionally, he served as Chief Executive Officer of UnitedHealth Care's Central Region and as National Sales Officer and President of UnitedHealth Care Lines of Business.

Fasola serves on the boards of Pennsylvania State University, Schreyer Honors College and Connextions, Inc., a technology-based business process outsourcing firm. He holds a BS in Health Planning and Administration from Pennsylvania State University.

About Insphere Insurance Solutions®

Insphere Insurance Solutions, Inc. is a distribution company that specializes in meeting the life, health, long-term care and retirement insurance needs of small businesses and middle-income individuals and families through its portfolio of highly rated products offered by nationally recognized insurance carriers. Insphere is an authorized agency in all 50 states and the District of Columbia with approximately 2,600 agents nationwide. For more information, please visit www.insphereis.com.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release may include forward-looking statements relating to Insphere Insurance Solutions that are subject to certain risks, uncertainties and assumptions.  Actual results may vary materially.  Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date.  Factors that could cause actual results to differ materially include, but are not limited to, Insphere's ability to maintain applicable licenses, Insphere's ability to enter into and maintain satisfactory relationships with insurance carriers and agents and the implementation of various information technology and administrative systems, platforms and processes necessary to successfully run the businesses. Like any business, the progress and success of the Insphere companies entails substantial uncertainty. 

SOURCE Insphere Insurance Solutions