Pacific Blue Cross and Blue Cross Canassurance have formed a national alliance with Blue Cross Life Insurance Company of Canada (Blue Cross Life) to better provide life and living benefits products and services across Canada.
Under the agreement, both Pacific Blue Cross and Blue Cross Canassurance will become shareholders of Blue Cross Life, in alignment with the other members of the Canadian Association of Blue Cross Plans – Alberta Blue Cross, Saskatchewan Blue Cross, Manitoba Blue Cross, and Medavie Blue Cross.
A release noted that the Minister of Finance has approved the alliance.
Both Pacific Blue Cross and Blue Cross Canassurance will continue to provide the same life and living benefits products sold under their policies, but as distributors for Blue Cross Life. In addition, both have also announced that coverage for current policyholders will continue within the current plan design.
“Pacific Blue Cross is excited to bring the benefits of a national carrier to our local expertise,” said Pacific Blue Cross president and CEO John Crawford, who also mentioned that the alliance with Blue Cross Life will bring new business to his company’s advisors while improving the value proposition to clients and members.
“Blue Cross Canassurance is very pleased to join Blue Cross Life together with the other Canadian Blue Cross Plan members. This alliance will reinforce our ability to provide excellent products and services to our customers and business partners,” stated Blue Cross Canassurance president and CEO Sylvain Charbonneau.
According to Marie-Josée Martin, the president and CEO of Blue Cross Life, the alliance is a milestone in the company’s strategy to establish a national scope.
