Reported by DallasNews 12 hours ago.

Warren Buffett sat down with CNN's Poppy Harlow to discuss taxes, the economy, and health care. Reported by CNNMoney 9 hours ago.

Embrace Pet Insurance is proud to serve as the exclusive sponsor for the 2018 Dick Goddard’s Cleveland Animal Protective League Telethon.

CLEVELAND (PRWEB) September 04, 2018

Embrace Pet Insurance is proud to serve as the exclusive sponsor for the 2018 Dick Goddard’s Cleveland Animal Protective League Telethon. It is the second year in a row that Embrace has had this honor. The telethon will be held Thursday, September 13th from 6 a.m. to 7:30 p.m. and is presented by FOX 8 News Cleveland.

The money raised by the telethon is crucial for the Cleveland APL’s continued efforts to provide medical care and homes for needy pets in Northeast Ohio. Last year, the telethon reached their fundraising goal by raising more than $180,000 for the Cleveland APL. The goal for 2018 is to exceed amount. To do so, viewers are encouraged to call (866)-392-PETS (7387) or go online to make a pledge on September 13th.

“Embrace is excited to partner with the Cleveland APL and FOX 8 again this year for the telethon,” said CEO of Embrace, Ambrish Jaiswal. “This charitable event is a great cause that aligns perfectly with our Core Value of giving back to the pet community in our home town.” As an organization, Embrace participates in a number of charitable events. Many Embrace employees volunteer at local shelters and rescues, multiple employees of Embrace have adopted pets from the Cleveland APL, and for every policy sold at Embrace, $2 is donated to a pet-related charity. Several “Embracers” are volunteering to answer phones during the telethon to help collect donations as well.

Every year, the Greater Cleveland community rallies behind Dick Goddard and his efforts to help the “four foots,” as he calls them. Goddard’s love for animals and his dedication to improving the quality of life for Northeast Ohio shelter and rescue pets has been the driving force behind his life’s work, leading to “Goddard’s Law,” a law that was passed in 2016 stating that it is considered a fifth degree felony to knowingly cause harm to a companion animal in the state of Ohio.

All proceeds from the Dick Goddard APL Telethon will stay in Northeast Ohio helping more than 13,000 animals that the Cleveland APL cares for each year, as well as benefiting programs and services provided by the APL such as Animal Admissions, Animal Welfare Clinic Services, Trap-Neuter-Return Programs, and Project Care.

To support the Cleveland Animal Protective League, visit https://clevelandapl.org.
###

About Embrace Pet Insurance
Embrace Pet Insurance is a top-rated pet health insurance provider for dogs and cats in the United States. Embrace offers one simple yet comprehensive accident and illness insurance plan that is underwritten by American Modern Insurance Group, Inc. In addition to insurance, Embrace offers Wellness Rewards, an optional preventative care product that is unique to the industry. Wellness Rewards reimburses for routine veterinary visits, grooming, vaccinations, training, and much more with no itemized limitations. Embrace is a proud member of the North American Pet Health Insurance Association (NAPHIA) and continues to innovate and improve the pet insurance experience for pet parents across the country. For more information about Embrace Pet Insurance, visit http://www.embracepetinsurance.com or call (800) 511-9172. Reported by PRWeb 9 hours ago.

Daniel Storr, 32, (pictured) who worked for Parkway Financial Solutions in Bournemouth, Dorset, promised Aden Embling a cut of his commission for every sale he made from the data. Reported by MailOnline 8 hours ago.

Teachers will receive pay raises of $1,200 in each of the two years of the contract, and will see no premium or copay increases on the health insurance side. They are unhappy with a provision in the contract that will largely take their evaluations out of the hands of department heads and give them solely to administrators. Reported by philly.com 44 minutes ago.

When passed in 2010, the Affordable Care Act (ACA), often called "Obamacare," had three basic goals: increase access to health insurance, reduce costs and spending, and offer patients stability Reported by Mondaq 11 hours ago.

SEOUL, SOUTH KOREA - Media OutReach - 5 Sep 2018 - With fiat currency falling around the world, some countries have begun approving cryptocurrency as a way for employees to take a portion of their salaries. One such example is Costa Rica where, according to an October 2017 directive from the Central Bank of Costa Rica, portions of salaries may be paid out in alternative forms -- allowing for the usage of cryptocurrency as a form of payment. However, Costa Rica is not the only country moving towards using cryptocurrency for payment.

 

In this situation, Bitcoin Diamond has positioned itself as a highly accessible and usable cryptocurrency. With fast transactions, low transaction fees, a secure and private blockchain, and affordable coin prices, it is well suited for making everyday transactions.

 

BCD Foundation's partner SCE prides itself in being today's "most sophisticated ecommerce solution" according to CEO and founder, Igor Soshkin. "Shopping Cart Elite is an ecommerce platform that is focused on delivering a complete end-to-end process for setting up online business and automating everything in it."

 

The BCD Bazaar will be the first online ecommerce store that exclusively accepts cryptocurrency. With most retailers only offering specific products to a limited number of countries because of the limitations of their payment platforms, the BCD Bazaar will allow consumers access to products no matter where they live. The BCD Bazaar is designed to give consumers access to a wide range of products from top online marketplaces around the world regardless of their location. With this brand new online marketplace, users can pay for any item using Bitcoin Diamond (BCD) or Bitcoin (BTC). With access to products that were previously exclusive to certain markets, customers around the world can now pay for products that may have been previously unavailable to them.

 

"Consumers who purchase products on the BCD Bazaar will have access to a range of brands including Amazon, Apple, and Samsung to name a few. These products can be bought with cryptocurrency and delivered anywhere in the world. Cryptocurrency allows families and businesses to trade their digital assets (cryptocurrency) for physical assets," said Mr. Soshkin, who hopes that this will help consumers avoid high transaction costs and slow processing time, both of which can lead to massive cost savings on everyday products.

 

The BCD Bazaar is also a solution for families in developing countries who may not have access to health insurance or documents that verify their identity. Because of the high costs of insurance, and without identity verification documents, these families are limited in their ability to use standard financial institutions as a way of paying for healthcare. As well, if a family is unable to afford health insurance and lives in a country that restricts the use of products such as CBD for medical treatments, they may find it nearly impossible to gain access to new products with the potential to help their loved ones. The use of cryptocurrency however, provides an online system that verifies transactions and can deter fraud, allowing families to safely purchase the products they need while avoiding being flagged by the medical system or doctors.

 

The BCD Bazaar is set to open on AUG 20. To learn more about the BCD Bazaar and how you can take advantage of this opportunity, please visit https://btcd.io for more information.

 

Official website：https://btcd.io/

BCD pay: https://bcdbazaar.com

GitHub：https://github.com/eveybcd/BitcoinDiamond

Reddit：https://www.reddit.com/user/Bitcoin-Diamond/

Forum：http://bbs.btcd.io

Twitter：https://twitter.com/BitcoinDiamond_

Slack：https://bitcoindiamond.slack.com/

Telegram：https://t.me/BCDcommunity Reported by Media OutReach 10 hours ago.

**

· *The trucking industry is expected to be disrupted by driverless technology in the coming decades.*
· *There are 1.8 million truck drivers in the US.*
· *A new report by University of Pennsylvania sociologist Steve Viscelli suggests that not all 1.8 million jobs will be lost by driverless trucks. In fact, many will be replaced by the expansion of "autonomous truck ports," where local drivers will bring goods to the driverless trucks.*
· *Those new jobs, though, are likely to emulate existing port driving jobs, which are poorly-paid, less likely to have benefits, and average 59 hours a week of work. *

--------------------

 

Autonomous vehicles were forecasted last year to threaten "more than four million jobs," the vast majority being careers in heavy truck driving.

Silicon Valley seems keen to hasten the arrival of those driverless trucks. Starsky Robotics, for instance, said it will put driverless trucks on the road as early as this year.

Once again, it appears the robots are taking over — and working-class Americans will lose, yet again. 

A new report by University of Pennsylvania sociologist Steve Viscelli diverges from that narrative. Driverless technology may add as many jobs as it takes away, Viscelli wrote.

Based off extensive research and interviews with tech companies, trucking manufacturers and firms, drivers, unions, academics, and others, the report indicates that around 294,000 jobs would be lost in a world with autonomous trucks. Many of the lost jobs would be in long-distance trucking, which involve transporting goods for hundreds of miles a day over the highway. 

Still, it's projected that there will be enough jobs added to accommodate displaced drivers. These will be found in sectors like local driving and transporting goods to what he calls autonomous truck ports (ATPs). 

Here's the situation he wrote was most feasible in the near-future:

"Human drivers would take care of non-driving tasks and navigate complicated local streets, then swap trailers with self-driving trucks at an autonomous truck port (ATP) next to the highway. The autonomous truck would handle the long-distance freeway driving, then hand off the load at an ATP near the destination."

**Enough jobs would exist for displaced drivers, but they wouldn't be good ones**

Industry experts aren't worried that driverless technology would destroy all driving jobs, but it is likely to nix tens of thousands of some of the best jobs in trucking, as well as relatively well-paid jobs.

Around 51,000 jobs in less-than-truckload driving, for example, are at risk of displacement from autonomous technology. These drivers bring shipments from different customers to one destination, but they do relatively little non-driving work and mostly drive on the highway. That means they're particularly likely to be replaced by driverless trucks.

And that's a major loss. Many of these workers are unionized, and the average pay in less-than-truckload driving is $69,208. 

Compare that to the average pay of port drivers: $35,000. This segment is expected to boom as autonomous trucking expands, because these drivers will be needed to transport goods from factories or warehouses to the autonomous trucks before those vehicles hit the highway. 

However, they're "among the worst trucking jobs around," Viscelli wrote. Port drivers are less likely to have health insurance or retirement benefits, work an average of 59 hours a week, and are usually classified as independent contractors rather than employees. 

"Twenty-five years from now, there will likely be many more jobs moving goods than there are today," Viscelli wrote. 

"(T)he jobs created by autonomous trucks will pay far less than the jobs we might lose," he continued. "The risk of autonomous trucks is not that there won’t be enough jobs for American truckers, it’s that there won’t be enough good jobs."

Are you a truck driver with a story about the industry? Email the author at rpremack@businessinsider.com.

Click here to explore the entire report, commissioned by the Working Partnerships USA and the UC Berkeley Labor Center.

*SEE ALSO: Silicon Valley believes driverless trucks and drones will soon transform how we get things — but truckers and warehouse workers disagree*

*DON'T MISS: One of the biggest problems facing self-driving trucks has little to do with the technology*

Join the conversation about this story »

NOW WATCH: How Columbia House sold 12 CDS for $1 Reported by Business Insider 5 hours ago.

As consumer demand increases for affordable health product solutions due to rising pricing for products compliant with the Affordable Care Act and the lack of a penalty in 2019 for individuals who do not purchase these policies, IHC’s insurance companies are positioned favorably to capitalize on market expansion though their broad product portfolio and newly added infrastructure, which will support significant licensed agent growth.

MINNEAPOLIS (PRWEB) September 05, 2018

The HealtheDeals division of IHC Specialty Benefits, an industry leader in affordable short-term medical and ancillary products, has executed several components of its growth strategy and opened new sales distribution centers in Milwaukee, WI and Minneapolis, MN, in addition to expanding its Lake Mary, FL sales operations.

As consumer demand increases for affordable health product solutions due to increasing pricing for products compliant with the Affordable Care Act and the lack of a penalty in 2019 for individuals who do not purchase these policies, IHC’s insurance companies are positioned favorably to capitalize on market expansion though their broad product portfolio and newly added infrastructure, which will support significant licensed agent growth. HealtheDeals anticipates growing to 50 total licensed agents in these locations by November 1, 2018, which is the beginning of the 2019 Open Enrollment Period. The company's HealtheDeals distribution is in addition to their brokerage, telebrokerage and national account distributions.

In order to supplement IHC’s internally generated lead traffic and to support the anticipated expansion of the market for their products, the company today announced that it has entered into a multi-year contract with one of the largest distributors of health insurance leads in the market. In addition to this distribution contract, the company stated it has taken several steps to broaden their lead activities, and diversify sourcing by executing a number of other lead generation contracts to ensure sufficient lead traffic.

Finally, IHC is actively growing in all sales distribution channels and recruiting independent and career agents nationally. HealtheDeals Advisors is seeking both currently licensed agents and recruits for whom they will provide training, assistance with licensing, technical support, leads and commission advances.

#

About The IHC Group
Independence Holding Company (NYSE: IHC), formed in 1980, is a holding company that is principally engaged in underwriting, administering and/or distributing group and individual specialty benefit products, including disability, supplemental health, pet, and group life insurance through its subsidiaries (Independence Holding Company and its subsidiaries collectively referred to as “The IHC Group”). The IHC Group includes three insurance companies (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company), and IHC Specialty Benefits, Inc., a technology-driven full-service marketing and distribution company that focuses on small employer and individual consumer products through general agents, telebrokerage, call centers, advisors, private label arrangements, independent agents, and through the following brands: http://www.HealtheDeals.com; Health eDeals Advisors; Aspira A Mas; http://www.PetPartners.com; and http://www.PetPlace.com. Reported by PRWeb 5 hours ago.

Seventy-five percent of Americans said it is very important to them that the provisions in Obamacare that prohibits health insurance companies from denying coverage. Reported by Newsmax 3 hours ago.

Trusted Advisor and Employee Benefits Consultant Now Offering MyMedicalShopper's Suite of Healthcare Cost-Saving Tools

PORTSMOUTH, N.H., and AUGUSTA, Maine (PRWEB) September 05, 2018

MMS Analytics, Inc. dba MyMedicalShopper, a leading provider of healthcare price transparency solutions, and The Allumbaugh Agency, an insurance agency and employee benefits firm, are partnering to give consumers more choice and control with respect to their healthcare spending. Today the companies announced the partnership, making MyMedicalShopper’s advanced healthcare price transparency software and cost-saving employer tools available to Allumbaugh clients.

The Allumbaugh Agency can now deliver MyMedicalShopper’s entire suite of products, which brings cutting-edge price transparency technology and robust claims analytics to employers and their employees. MyMedicalShopper™, MyMedicalRewards™, and a powerful employer analytics package are all now available to Allumbaugh’s entire client base.

“We look for partners who think outside the box and work hard to address the challenges that employers everywhere are facing. The Allumbaugh Agency exemplifies these qualities, which make them an outstanding advisor to their clients,” says MyMedicalShopper co-founder and CEO, Mark Galvin. “We’re excited to be teaming up with Allumbaugh and working together to empower consumers and help reverse the trend of rising healthcare costs for both individuals and businesses.”

For The Allumbaugh Agency, a respected benefits broker across northern New England, this new offering is a significant step towards an improved health benefits environment for their clients.

“We were immediately impressed by the power, ease-of-use, and broad applicability of MyMedicalShopper to our client base,” says Joel Allumbaugh, President and CEO of The Allumbaugh Agency in Augusta, ME. “The tight integration between MMS and the health plan administration software makes especially easy for members to engage with the tools. As longtime advocates of price transparency in healthcare, we understand how necessary this information is to consumers. That’s why we’re introducing MyMedicalShopper to all of our clients.”

MyMedicalShopper provides a comprehensive platform for employers that wish to arm their employees with a tool that makes shopping for medical care as easy as a Google search.

MyMedicalRewards provides a dynamic HRA or HSA funding mechanism that drives good consumer behavior even when employees are spending employer dollars. It combines reference-pricing models with the MyMedicalShopper shopping experience to reduce medical claims.

Employer Dashboard is a robust claims analytics package that empowers employers with actionable insights about their group’s healthcare utilization. It provides unprecedented intelligence and identifies opportunities to educate employees and drive behavior change.

About MyMedicalShopper (http://www.MyMedicalShopper.com)
MMS Analytics, Inc. dba MyMedicalShopper™ is a big data company on a mission to revolutionize healthcare. The founders started the company out of the need to bring transparency to consumers and the companies who provide healthcare benefits to their employees—providing the leverage needed to make solid decisions on their healthcare and improve their quality of life. Consumers previously unaware of price variations in procedures and testing can utilize real-time health insurance plan pricing information that makes it possible to choose care based on price, quality, and convenience. Experts document that as much as $1 trillion could be slashed annually from the cost of healthcare in the U.S. MyMedicalShopper aims to transform the healthcare industry into a fair market for consumers.

About The Allumbaugh Agency (http://www.Allumbaugh.com)
The Allumbaugh Agency is a full-service employee benefit agency with an innovative spirit. Founder, Joel Allumbaugh, is on the front lines in both state legislatures and Washington D.C. advocating for policies that will improve transparency and lower the cost of health care. Clients appreciate expert guidance and get more for their investment. The Allumbaugh Agency team lifts the burden of providing employee benefits for employers with comprehensive administrative and compliance support. Their goal is to provide the best service experience around with attention to the smallest details from a friendly team who cares about getting it right for the customers who count on them every day. Reported by PRWeb 4 hours ago.

The National Health Insurance Authority (NHIA) has suspended processing of 2016/2017 claims it said were submitted late by service providers. Reported by Myjoyonline 3 hours ago.

Soaring demand for work-life services drives expansion of national sales team

SHELTON, Conn. (PRWEB) September 06, 2018

The country’s leading work-life provider, LifeCare, has experienced a significant increase in demand for its wide range of services, driving overall company growth and expansion of their nationwide sales team.

“We’re seeing tremendously increased demand for our services from employers across the country,” says Peter Burki, CEO of LifeCare, “so we continue to add team members in order to better serve those employers with tailored programs that best fit the needs of their unique employee bases.”

As the country’s leading work-life provider, LifeCare assists its members in the areas of parenting, senior care, legal guidance, financial help, home services and wellness. Specifically, LifeCare’s specialists provide personalized guidance 24/7/365 and connect employees with the solutions they need, when and where they need them.

Additionally, LifeCare supports clients and their employees with enhanced services, such as Backup Care Connection (established as “the most flexible in the industry”), Mothers at Work (featuring MilkShip, the revolutionary new way for traveling moms to ship their breastmilk) and Senior Care Management (providing personalized, peace-of-mind care even at a moment’s notice.)

LifeCare also offers LifeMart, an award-winning, discount shopping platform exclusively for members wanting big savings on child care and senior care services, travel, electronics, groceries, new cars, and more.

All combined, these helpful, time-saving services not only reduce stress with LifeCare’s members, they also increase their work productivity and employer loyalty.

As a result of this business growth, LifeCare’s expanded National Sales Team includes:

Michael Willett – offering a quarter century of experience analyzing client needs and providing employee assistance, HR administrative, and student assistance solutions.

Joan Kronick – bringing 24 years of expertise in the work-life, education, medical, and consulting fields to her role at LifeCare.

Stefan Van Doren – boasting an extensive background in health insurance, customer service, and employee benefits design.

All have recently joined the company as Vice Presidents of Sales.

“We’re excited by our escalating growth and the addition of these three talented individuals position us to grow even faster,” continues Mr. Burki, “As a result, more clients, employees, and prospects across the country can benefit from the time and money-saving advantages LifeCare offers.”

About LifeCare
LifeCare provides employer-sponsored work-life benefits to 61,000 clients, including Fortune ‘500 companies and large branches of the federal government, representing 100 million members nationwide. LifeCare also offers a full suite of work-life solutions that save members time with personal life needs such as Backup Care Connection, Senior Care Management, Homework Connection, BenConnect, and Mothers@Work. LifeCare also operates LifeMart, an online discount shopping website that provides real savings on everyday products and needs. LifeCare is headquartered in Shelton, CT. Reported by PRWeb 13 hours ago.

Boulder insurance agent Eric Smith, of CO Health Brokers, educates consumers about alternative health plans, which could cut premiums in half.

BOULDER, Colo. (PRWEB) September 06, 2018

The enactment of the Affordable Care Act (ACA/Obamacare) requires health insurance companies cover people with pre-existing conditions and requires that everyone purchase insurance or be faced with a tax penalty. “These requirements on the insurance companies have lead to rising premiums,” said insurance agent Eric Smith, of CO Health Brokers. “High premiums have priced some families out of the traditional health insurance market.”

“Fortunately, an alternative healthcare market has emerged to fill the need. Alternative plans work as traditional health insurance, but they do not have to follow all of the ACA guidelines,” noted Smith.

Specifically, they do not have to cover individuals with pre-existing conditions and they can be purchased any time of the year instead of only during open enrollment (November 1 through January 15, effective dates as early as January 1). This allows the premiums for these plans to be much lower than traditional health insurance.

“Families who qualify could potentially cut their premiums in half using an alternative plan,” stated Smith. “Although, these families might have to pay the penalty this year, starting in October 2018 there would be no penalty.”

Currently, the penalty for not having an ACA-approved health insurance plan is $695 per adult or 2.5 percent of household income, whichever is greater. Fortunately, the law has changed and the penalty can be avoided starting October 2018, and it is completely eliminated for 2019.

When looking for health insurance, Smith advises understanding the alternatives to buying individual health insurance, know what you need and can afford, and visit CO Health Brokers.

About Eric Smith, Colorado Health Brokers
For the last 15 years, Eric Smith has specialized exclusively in health insurance for individuals, families, and businesses. Eric has received numerous awards as a top producer and was hired by Colorado to help train other brokers on http://www.connectforhealthco.com. For more information, please call (303) 541-9533, or visit http://www.cohealthbrokers.com.

About the NALA™
The NALA offers small and medium-sized businesses effective ways to reach customers through new media. As a single-agency source, the NALA helps businesses flourish in their local community. The NALA’s mission is to promote a business’ relevant and newsworthy events and achievements, both online and through traditional media. The information and content in this article are not in conjunction with the views of the NALA. For media inquiries, please call 805.650.6121, ext. 361. Reported by PRWeb 12 hours ago.

When this reporter’s father turned 40, he was diagnosed with diabetes. This was 1980, and at the time, diabetes in India was something of a novelty disease. People did know that it was caused due to the lack of insulin hormone, which in non-diabetics is regularly secreted by the pancreas.

That was nearly 40 years ago, and since then the numbers in India have just gone up. World Health Organization (WHO) estimates that 8.7% of the population between ages 20 and 70 are victims of type-2 or non-insulin dependent diabetes.

The rise of the disease is driven by a combination of factors that include rapid urbanization, sedentary lifestyle, unhealthy diet, tobacco use, and increased life expectancy. 

Also, the inability to control blood sugar levels is due to the fact that a diabetologist cannot constantly monitor the exercise, blood sugar levels, food intake, and medicine administration of each and every patient. “A doctor may give a prescription and a list of dos and don’ts to follow, but it is up to the patient to adhere to all those factors, and a doctor cannot possibly monitor what each patient does 24 hours of the day,” explains Abhishek Shah, founder and owner of Wellthy Therapeutics, a digital therapeutics firm that empowers doctors, health insurance firms, pharma and medical device companies to aid better health outcomes for patients.

Wellthy uses Artificial Intelligence (AI) and patient centric design to improve patient outcomes for all healthcare stakeholders, in people with cardio-metabolic conditions, starting with type II diabetes. While explaining digital therapeutics, Shah says, “We use artificial intelligence to monitor the day in a life of a diabetic patient. This data is then collected minute-by-minute, and can be given to the doctor at the time of meeting to check the patient’s progress. Depending on how well s/he does, the doctor can accordingly change the medicine dosage or reduce the units of insulin in an individual.”

However, not everyone can access the app that is available in both the Android and iStore. While downloading the app is free, accessing the programme requires an activation code, which they could get either through a prescription from their doctor, via their insurance company or a medical device. . The long road

While the company seems to be doing well at the moment, it wasn’t always easy. “Trying to explain to doctors the importance of digital therapeutics wasn’t easy. There was initial reluctance, but once we got a handful of doctors on board, the others gradually joined our team. Health insurance companies felt that patients monitoring and regularly checking their diabetes would mean a reduced chance of hospitalization and eventually cashless mediclaim,” he explained.

Interestingly, Wellthy has been in the market since late 2017.. While the concept came up in 2015, three years of research and development ensured that the app was continuously updated to improve user experience and patient outcomes.

-*Success rate*-

Shah maintains that his app has an 80% success rate when it comes to patients controlling their blood sugar levels. “The remaining 20% is a learning curve for us. There are some that refuse to use the app, despite it getting prescribed. The AI, however, sends reminders, but at the end of the day it’s up to the patient to decide whether s/he wants to be managed” he says.

-*What lies ahead?*-

Right now, the app is in English. The challenge, Shah says, is getting an AI to recognize Hindi. “That’s a massive challenge for us now, and we’re looking to fix that. We want to eventually be able to penetrate into the remotest village in India, and help people regulate their diabetes. Obviously for that we will have to develop an AI that recognizes regional dialects as well,” he says.

Apart from diabetes, Shah wants to expand digital therapeutics to other cardiometabolic conditions. “Right now, we’re focusing on diabetes, and we’d rather make the best product before branching out into other conditions,” he says.

Article Type: 
Report
Sections: 
Health
Technology
Authors: 
Jayadev Calamur
Agencies: 
DNA webdesk
Tags: 
World Health Organization
Diabetes
Abhishek Mehta
Wellthy Therapeutics
Health
American Diabetes Association (ADA)
Thu, 6 Sep 2018-03:06pm
Date updated: 
Thursday, 6 September 2018 - 3:06pm
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Highlights:  Reported by DNA 10 hours ago.

APRIL
H1 2018 results
-                                                                                                      
*Growth in main financial indicators at end June*

· Sales up 7.5% to €492.1m (up 7.0% like-for-like^[1])
· Gross margin^[2] up 4.0% to €221.6m
· Current EBIT up 10.6% to €42.2m
· Net income (group share) up 15.4% to €27.5m

*Annual target maintained*

 The APRIL group posted H1 2018 consolidated sales of €492.1m, up 7.5% as reported compared to the previous year, and current EBIT up 10.6% to €42.2m.

Following this announcement, APRIL group CEO Emmanuel Morandini made the following comments:  

"First half 2018 results confirm our growth momentum, as we posted strong performances across most key financial indicators and strategic businesses, especially in French and international health and personal protection and in niche P&C insurance.

In order to maintain these positive trends, we will to continue to realign our business activities and optimise performance. Furthermore, the group's transformation is underway. We continue to refocus on business lines that generate the highest value-added and keep developing our partnerships and acquisitions, such as the acquisition of la Centrale de Financement.

All of these factors allow us to maintain our current EBIT growth outlook of 6 to 10% in 2018."

*GROUP*

Group (IFRS - €m) *H1 2018* *H1 2017* *Change *
*Consolidated sales* *492.1* 457.7 +7.5%
PF: +7.0%
Brokerage commissions and fees *261.0* 257.0 +1.6%
PF: +0.8%
Insurance premiums *231.0* 200.7 +15.1%
PF: +15.1%
*Gross margin* *221.6* 213.1 +4.0%
*Financial income* *5.5* 4.5 +21.9%
*Current EBIT* *42.2* 38.1 +10.6%
*EBIT* *42.3* 37.7 +12.4%
*Net income (group share)* *27.5* 23.9 +15.4%

The Board of Directors met on 6 September 2018 to approve APRIL's statutory and consolidated
half-year financial statements. The statutory auditors have conducted a limited review of the financial statements and the financial report may be consulted on the group website.

APRIL posted consolidated sales of €492.1m for the first half of 2018, up 7.5% as reported from the same period last year.

2017 to 2018 sales progression - €m  
*Consolidated sales at 30/06/2017* *457.7*
Impact of exchange rate fluctuations -3.4
Acquisitions +5.8
Disposals -0.3
*Like-for-like sales at 30/06/2017* *459.8*
Growth in brokerage commissions and fees +2.0
Growth in insurance premiums +30.3
*Consolidated sales at 30/06/2018* *492.1*

Like-for-like *sales *(€459.8m for the first half of 2017) offset a €3.4m negative impact of exchange rate fluctuations, mainly affecting Property & Casualty commissions in Brazil, the United States and Canada.

Like-for-like sales also include a +€5.5m net change in consolidation mainly arising from the consolidation of Public Broker in May 2017 and Benecaid in April 2018, incorporated into the Health and Personal Protection division, as well as Pont Grup in October 2017 in the Property & Casualty division.

Accordingly, at constant consolidation scope and exchange rates, insurance premiums increased 15.1% to €231.0m. Brokerage commissions rose slightly to €261.0m, up 0.8% like-for-like, reflecting 1.2% growth in Property & Casualty and flat sales in Health & Personal Protection (up 0.4%).

The *gross margin* increased 4.0% to €221.6m. This growth was driven both by brokerage (up 3.2% to €192.0m) and risk-carrying activities (up 9.9% to €29.6m).

*Net financial income *amounted to €5.5m, up €1.0m. This figure includes €2.2m in capital gains on the sale of financial assets, compared with €0.1m in H1 2017.

*Current EBIT* amounted to €42.2m, up 10.6% compared to the previous year and in line with 2018 targets. This growth was mainly driven by Health & Personal Protection, which benefited from strong momentum in French and international health insurance, as well as the acquisitions carried out in 2017 and 2018.

*EBIT* amounted to €42.3m, up 12.4%. No material non-recurring items were recorded during the period.

Benefiting from current EBIT growth and an effective tax rate down 2.4 pp to 33.3%, *net income (group share)* amounted to €27.5m, up 15.4% from €23.9m in H1 2017.

*Health & Personal Protection*

Health & Personal Protection (IFRS - €m) *H1 2018* *H1 2017* *Change *
*Consolidated sales* *302.3* 282.5 +7.0%
PF: +5.9%
Brokerage commissions and fees *168.3* 164.6 +2.2%
PF: +0.4%
Insurance premiums *134.0* 117.9 +13.6%
PF: +13.6%
*Gross margin* *137.7* 131.8 +4.4%
*Financial income* *5.4* 2.8 +89.8%
*Current EBIT* *43.5* 37.8 +15.1%

The Health & Personal Protection division reported a 7.0% increase in sales comprising a 2.2% increase in brokerage commissions as reported (up 0.4% like-for-like) and a 13.6% increase in premiums as reported and like-for-like.

The increase in insurance premiums was driven by strong growth in individual (seniors and self-employed) health and personal protection and group health insurance portfolios. This strong performance was slightly mitigated by a loss-making local health portfolio in the United Kingdom, now closed. The local health business in the United Kingdom is already being reviewed by group management.

The increase in brokerage commissions was primarily driven by the strong performance in French and international health insurance and direct corporate brokerage activities.

The Health and Personal Protection gross margin increased 4.4% to €137.7m due to the strong performance posted by individual health and personal protection and expatriate health insurance, as well as by the consolidation of Public Broker and Benecaid.

The division's current EBIT amounted to €43.5m, up 15.1% compared to the first half of 2017, primarily due to the increase in the gross margin of risk-carrying operations, the increase in financial income and the optimisation of operating expenses. The streamlining of operations in Italy also contributed to this growth.

*PROPERTY & CASUALTY*

Property & Casualty (IFRS - €m) *H1 2018* *H1 2017* *Change *
*Consolidated sales* *191.0* 176.6 +8.1%
PF: +8.7%
Brokerage commissions and fees *93.6* 93.3 +0.3%
PF: +1.2%
Insurance premiums *97.4* 83.3 +17.0%
PF: +17.0%
*Gross margin* *83.9* 81.3 +3.3%
*Financial income* *0.9* 1.3 -34.0%
*Current EBIT* *5.7* 5.4 +5.5%

The Property & Casualty division reported an 8.1% increase in sales comprising flat growth in brokerage commissions as reported (up 0.3% as reported, up 1.2% like-for-like) and a 17.0% increase in premiums as reported and like-for-like.

The continued expansion of corporate, affinity member, travel insurance and assistance operations, carried out in a highly reinsured risk-carrying model, contributes to a strong growth in insurance premiums results.

Brokerage commissions posted strong performances in wholesale brokerage, particularly in car, two-wheeled, sailing and property insurance. However, growth has been curbed by declining portfolios in certain niche markets in Canada and by changes in risk carriers in the United States, which have led to a temporary slowdown in business.

The gross margin, up 3.3% to €83.9m, was mainly driven by the strong performances posted by travel insurance activities in Brazil and wholesale brokerage in France, as well as the consolidation of Pont Grup.

P&C current EBIT amounted to €5.7m, up 5.5% compared to the previous year.

*FINANCIAL POSITION*

Group (IFRS - €m) *30/06/2018* *31/12/2017* *Change *
*Shareholders' equity (group share)* *642.4* 632.3 +1.6 %
*Provisions for contingencies and charges* *28.5* 30.0 -5.1%
*Financial debt*
% of shareholders' equity *36.8*
*5.7%* 37.5
5.9% -1.9%
-0.2 pp
*Adjusted net cash^[3]* *160.4* 195.1 -17.8%

At 30 June 2018, APRIL continued to show a healthy financial structure:

· Consolidated *shareholders' equity* (group share) of €642.4m, up €10.1m compared to the previous year, and provisions for contingencies and charges^[4] down slightly at €28.5m.
· *Financial debt *of €36.8m, i.e. 5.7% of shareholders' equity (group share), comprising a loan taken out in 2017 under favourable market conditions and commitments made as part of the group's acquisition policy (earnouts and commitments to buy out minority interests). Over the first half, financial debt decreased primarily due to the repayment of the bank loan.
· Group *net cash* *adjusted* for deposit accounts amounted to €160.4m, compared to €195.1m at 2017 year-end.

*CHALLENGES AND OUTLOOK *

The strong performances posted in the first half illustrate the appropriateness of APRIL's strategy. The group will thus continue its refocusing and transformation efforts, drawing on organic growth, a turnaround in loss-making operations and acquisitions in targeted business lines.

Accordingly, on 17 July the group acquired a 49.9% stake in Elitis Protection, a specialist wholesale loan insurance broker in Belgium that makes use of a 100% digital subscription and management solution. This transaction is part of APRIL's strategy to export its expertise to key markets abroad.

APRIL also announced the acquisition of a 54% stake in the third largest loan brokerage network in France, la Centrale de Financement, on 4 September. "This acquisition is a substantial move for the group. As we integrate la Centrale de Financement within the group, we are bridging the gap between loan and insurance brokerage, first for individuals, then for professionals. This transaction will step up the transformation of our group in one of our core markets and our evolution towards an open, multi-brand model", APRIL group CEO Emmanuel Morandini added.

Therefore, APRIL is maintaining its current EBIT growth target of 6-10% versus 2017.

APRIL group CEO Emmanuel Morandini and CFO Emmanuel Maillet will be holding a conference call in French with a live slideshow on Thursday 6 September at 6:30 pm (France). It will be available at www.april.com and will be uploaded for listening the next day (See Investisseurs / Nos actualités financières / Webcasts - audiocasts on the French website).

*Appendices *

· Sales analysis
· Summary consolidated income statement
· Summary consolidated balance sheet
· Summary consolidated cash flow statement
· Gross margin bridge
· Adjusted net cash bridge

*Release of half-year financial report*

The half-year financial report is available to the public as of this day and has been filed on the website of the Autorité des Marchés Financiers. It can be downloaded in French on APRIL's website at www.april.com and on the AMF website (www.amf-france.org).

*UPCOMING *EVENTS**

· Q3 2018 sales: 23 October 2018 after market close

*CONTACTS*

*Analysts and investors*
Guillaume Cerezo: +33 (0)4 72 36 49 31 / +33 (0)6 20 26 06 24 - guillaume.cerezo@april.com

*Press relations*
Samantha Druon: +33 (0)7 64 01 74 35 - samantha.druon@insign.fr

This release contains forward-looking statements that are based on assessments or assumptions that were reasonable at the date of the release, and which may change or be altered due to, in particular, random events or uncertainties and risks relating to the economic, financial, regulatory and competitive environment, the risks set out in the 2017 Registration Document and any risks that are unknown or non-material to date that may subsequently occur. The Company undertakes to publish or disclose any adjustments or updates to this information as part of the periodical and permanent information obligation to which all listed companies are subject.

*About APRIL*

In 2018, APRIL-the international insurance services group and leading wholesale broker in France-will be celebrating its 30th anniversary. And at 30 years young, APRIL still has many more years to offer to simplify the lives of its customers and partners-be they individuals, professionals and businesses-in the 31 countries where the group operates. On their behalf, APRIL's 3,800 employees design, manage and distribute specialist insurance solutions (health and personal protection, mortgage, property and casualty, mobility and legal protection) as well as insurance services, capitalising on its experience to make insurance easier and more accessible to as many customers as possible.
Listed on Euronext Paris (Compartment B), the group posted sales of €928.4m in 2017.

Full regulated information is available on our website at www.april.com (Investors section).

*APPENDIX 1: SALES ANALYSIS*

*Sales by division*

IFRS - €m *H1 2018* *H1 2017* *Change* *H1 2017 LFL* *Change LFL*
*Health & Personal Protection* *302.3* 282.5 +7.0% 285.5 +5.9%
Commissions and fees *168.3* 164.6 +2.2% 167.5 +0.4%
Insurance premiums *134.0* 117.9 +13.6% 117.9 +13.6%
*Property & Casualty* *191.0* 176.6 +8.1% 175.8 +8.7%
Commissions and fees *93.6* 93.3 +0.3% 92.5 +1.2%
Insurance premiums *97.4* 83.3 +17.0% 83.3 +17.0%
*Inter-division eliminations* *-1.2* -1.5 +16.4% -1.5 +16.4%
*Consolidated sales* *492.1* 457.7 +7.5% 459.8 +7.0%

*Quarterly sales*

IFRS - €m *2018* *2017* *Change* *2017 LFL* *Change LFL*
*Q1* *240.6* 227.7 +5.7% 228.2 +5.4%
*Q2* *251.4* 230.0 +9.3% 231.6 +8.6%
*Q3* *-* 232.7 - - -
*Q4* *-* 238.1 - - -
*Total* *-* 928.4 - - -

*APPENDIX 2: SUMMARY CONSOLIDATED INCOME STATEMENT*

(IFRS - €m) *H1 2018* *H1 2017*
*Sales* *492.1* 457.7
Net financial income (excluding financing cost) *5.5* 4.5
*Total income from ordinary activities* *497.6* 462.3
Insurance underwriting expenses *(198.5)* (167.9)
Income or expenses net of ceded reinsurance *(9.3)* (10.6)
Other purchases and external expenses *(124.9)* (124.1)
Taxes, duties and similar payments *(13.0)* (13.3)
Staff costs *(100.0)* (99.9)
Depreciation allowance *(9.4)* (8.5)
Provisions (net of reversals) *(0.8)* (0.3)
Other current operating income and expenses *0.5* 0.4
*Current EBIT* *42.2* 38.1
Other non-current income and expenses *0.2* (0.4)
*EBIT* *42.3* 37.7
Financing cost *(0.0)* (0.0)
Share of companies integrated on an equity basis *(0.1)* (0.1)
Income tax *(14.1)* (13.5)
*Net income from continuing operations* *28.1* 24.1
Net income/(loss) from discontinued operations *(0.0)* (0.0)
*Consolidated net income* *28.1* 24.1
Share of minority interests *0.6* 0.2
*Net income (group share)* *27.5* 23.9
*Earnings per share (in €)* *0.68* 0.59

*APPENDIX 3: SUMMARY CONSOLIDATED BALANCE SHEET*

(IFRS - €m) *30 June 2018* *31 December 2017*
Intangible assets *314.0* 292.0
  of which goodwill *246.2* 224.8
Tangible assets *13.0* 12.0
Financial investments *678.4* 667.2
Reinsurers' share of underwriting provisions *217.9* 224.5
Other *23.9* 23.2
*Total non-current assets* *1247.2* 1218.9
Receivables from insurance and accepted reinsurance operations *127.3* 100.9
Receivables from ceded reinsurance operations *33.2* 21.7
Trade receivables *609.3* 247.3
Cash and cash equivalents *94.5* 107.8
Other *81.8* 39.8
*Total current assets* *946.1* 517.5
*TOTAL ASSETS* *2193.3* 1736.3
Shareholders' equity (group share) *642.4* 632.3
Minority interests *(0.5)* (0.2)
*Total shareholders' equity* *641.9* 632.1
Underwriting provisions for insurance policies *623.0* 499.4
Provisions for contingencies and charges *28.5* 30.0
Deferred tax liabilities *5.2* 7.4
Financial debt *36.8* 37.5
*Total non-current liabilities* *693.5* 574.3
Current bank loans and overdrafts *37.0* 14.7
Payables from insurance and accepted reinsurance operations *73.0* 39.1
Payables from ceded reinsurance operations *80.5* 51.1
Operating liabilities *462.2* 314.6
Other *205.0* 110.5
*Total current liabilities* *857.8* 529.9
*TOTAL EQUITY AND LIABILITIES* *2193.3* 1736.3

*Appendix 4: SUMMARY CONSOLIDATED CASH FLOW STATEMENT*

(IFRS - €m) *H1 2018* *H1 2017*
*Net income (group share)* *27.5* 23.9
Net income/(loss) from discontinued operations *(0.0)* (0.0)
Minority interest in consolidated companies' net income *0.6* 0.2
*Net income from continuing operations* *28.1* 24.1
Cash flow *57.6* 42.0
Change in operating working capital *(23.1)* (16.8)
Operating cash flow from discontinued operations *(0.0)* (0.0)
*Net cash flow from operating activities* *34.4* 25.3
Net investment in tangible and intangible assets *(11.0)* (8.7)
Net investment in financial assets *(21.1)* (13.6)
Net cash flow from acquisition/disposal of consolidated companies *(23.2)* (8.1)
Investment in equity-accounted companies *(1.0)* -
Investment cash flow from discontinued operations *-* -
*Net cash flow from investing activities* *(56.4)* (30.4)
Capital increase linked to exercise of stock options *-* -
Capital increase linked to minority interests in consolidated companies *0.0* 0.0
Purchase and sale of own shares *(0.0)* 0.1
Dividends paid out *(11.7)* (10.9)
Net change in borrowings *(1.9)* 20.5
Financing cash flow from discontinued operations *-* -
*Net cash flow from financing activities* *(13.6)* 9.7
Impact of foreign exchange rate changes *(0.2)* (1.3)
*Change in net cash and cash equivalents* *(35.7)* 3.3*APPENDIX 5: GROSS MARGIN BRIDGE*

(IFRS - €m) *30 June 2018* *30 June 2017*
*Sales* *492.1* 457.7
Financial income of insurance companies *5.6* 4.3
Brokerage commissions paid to intermediaries *(68.3)* (70.6)
Insurance underwriting expenses *(198.5)* (167.9)
Income or expenses net of ceded reinsurance *(9.3)* (10.6)
Other *0.1* 0.1
*Gross margin* *221.6* 213.1
Of which brokerage *192.0* 186.1
Of which risk-carrying *29.6* 27.0

*APPENDIX 6: ADJUSTED NET CASH BRIDGE*

(IFRS - €m) *30 June 2018* *1 January 2018*
*Cash and cash equivalents* *94.5* 107.8
Current bank loans and overdrafts *(37.0)* (14.7)
*Net cash* *57.5* 93.1
Term deposits *102.9* 102.0
*Adjusted net cash* *160.4* 195.1
^[1] Proforma or like-for-like (LFL): sales at constant consolidation scope and exchange rates. This figure is adjusted for acquisitions, disposals and changes in consolidation method, as well as exchange rate fluctuations, calculated on the basis of the prior year financial statements converted using the exchange rate for the current year.

^[2] Gross margin allows a comparison between the various brokerage business models and the insurance businesses and shows the contribution of each business to group value-added:
-           With regard to brokerage, gross margin is the difference between (i) commissions recognised under sales and (ii) commissions paid to intermediaries recognised under purchases and external expenses.
-           With regard to risk-carrying operations, gross margin is the sum of the underwriting result and the financial result.

^[3] Adjusted net cash = Cash and cash equivalents - current bank loans and overdrafts + deposit accounts registered in the name of APRIL (classified under "Financial investments" on the balance sheet)

^[4] The company received a notice of audit initiated by the authorities on the group's reinsurance operations. At this stage, and as stated in the notes to the half-year financial report, no provision has been recorded in the financial statements for the period ending 30 June 2018.

*Attachment*

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