Part 5: The Tenacity of Renaissance
By Robert P. Mulligan
Renaissance Dental CEO
The adoption of the Affordable Care Act means insurance carriers of all types are changing how they do business. It has been more of a struggle for some than for others. I’m proud that Renaissance is one of the few companies with the experience needed in healthcare exchanges to adapt to this new environment faster than our competitors.
Part of the reason we’ve been able to adapt to the changing landscape of insurance so rapidly is the tenacity of this company. We’ve faced hurdles in the past and have always been up to the challenge of getting over them. It’s my job to ensure that as a company we remain flexible, innovative and thoughtful in the kind of products we offer and how we bring them to the market.
The uncertainty that came with the introduction of public exchanges was enough to keep people like me up at night. But because we came up with a smart plan and executed it, the public exchanges have been a great benefit to Renaissance. Instead of fearing the uncertainty of public exchanges, we saw them as a great business opportunity.
In addition to successfully adapting to the exchange environment, our nimbleness allowed us to achieve another one of our strategic objectives, which was to bring more solutions to the table. Renaissance now offers vision, life and disability with our flagship dental product. In a time when many insurance carriers are scrambling to keep up with the changes to the insurance market, Renaissance expanded to become a complete ancillary solution. The driving force behind that change was to better serve our customers, brokers and benefits administrators. We were quick to move once we saw a need for change, and that has allowed us to be ready for anything new that may pop up in the ever-changing insurance landscape.