The Benecon Group has appointed Michael Sullivan as its new Chief Commercial Officer, a strategic decision aimed at accelerating the national expansion of its VERIS consortium solution. Sullivan, a seasoned executive with over 25 years of experience in the healthcare and insurance sectors, will be instrumental in overseeing Benecon’s commercial operations during this critical growth phase.
Sullivan joins Benecon after holding senior roles at Independence Health Group, AmeriHealth Administrators, and Highmark. His extensive background includes expertise in stop-loss insurance, third-party administration, product strategy, and large-scale growth initiatives. This experience positions him well to lead the company’s efforts to enhance its market presence.
Driving National Growth for VERIS
VERIS is designed as an independent consortium model that employs actuarial analysis and precise underwriting to provide sustainable health plan performance. The platform leverages data-driven design and collective stop-loss purchasing power, boasting a decade-long record of predictability in costs and effective risk protection for employers.
As CCO, Sullivan will take charge of Benecon’s go-to-market strategy. He aims to boost advisor engagement, develop new channels, and foster regional growth, while also establishing strategic partnerships. Sullivan has expressed a commitment to deepening relationships with advisors and employers, with a focus on scaling VERIS’s reach across the nation.
The appointment has been welcomed by Benecon’s private equity partners, TA Associates and Neuberger Berman Private Markets. Both firms have highlighted Sullivan’s commercial expertise and extensive national network as valuable assets that can help position VERIS as a leader in self-funded healthcare solutions.
Capitalizing on Market Demand
The demand for scalable and predictable health plan models is on the rise, prompting Benecon to seize the opportunity to solidify VERIS’s position in the marketplace. Executives from TA Associates and Neuberger Berman have noted that Sullivan’s leadership is a clear indicator of the company’s ambitions for growth.
With Sullivan at the helm of commercial strategy, Benecon is poised to navigate the evolving landscape of healthcare solutions and meet the increasing needs of employers seeking effective health plan options. The company aims to leverage its innovative approach and experience to establish VERIS as a dominant player in the sector.
This strategic move reflects Benecon’s commitment to enhancing its offerings and expanding its impact in the healthcare market, ensuring that it remains at the forefront of industry developments.
