Wellfleet is proud to celebrate its 30th anniversary this year! We are thankful for three decades of building lasting partnerships and offering exceptional service to our clients.
You may know Wellfleet as an insurance company providing health coverage for students, voluntary benefits for employer groups, and specialized coverage for events, volunteers, and groups. But we didn’t start out this way, and it’s been a long road to get to where we are today.
In this blog, we’ll give you a glimpse of the journey from our first year until now. We are thankful for every client, partner, and employee who made this growth possible, and we’re excited as we look forward to the next thirty years of growth.
Our beginning years
Founded by Kevin Saremi in 1993 as Consolidated Health Plans (CHP), we began our journey to an industry-leading third-party administrator (TPA). Starting out in a tiny office with fewer than 10 employees, we processed claims and administered health insurance and self-funded medical plans within the educational and employer markets.
In the years that followed, our commitment to service remained the hallmark of our business. By 1998, we had expanded our business, with our PPO network reaching 30 hospitals and 6,000 providers. Over the next 12 years, we received the Springfield Regional Chamber’s annual Super 60 Award several times because of our exceptional revenue growth.
Our service-focused culture
Our former mission statement when we were a TPA was to be “accessible, responsive, and flexible,” which accurately summarized our company culture then and still today. Since the beginning, we have fostered a culture where we work to meet the needs of our clients and partners.
We’ve even developed several initiatives to motivate our team members to create exceptional customer experiences. We always act with integrity and put our clients’ needs first, not because we must, but because it’s the right thing to do.
The Berkshire Hathaway years
Our expertise as a TPA continued to compound, and we were trusted throughout the industry for our dedication to service and quality. In 2011, we joined the Berkshire Hathaway family of companies. As Berkshire’s first accident and health entity in the insurance division, its support has led to even greater growth, including our transition to becoming an insurer a few years after the acquisition.
By 2014, our Student Health arm gained true national reach, securing clients in the western U.S. Shortly after, Drew DiGiorgio, who joined the company in 1995, became our President, and he has successfully guided our company ever since.
“I’ve had the honor to lead an organization that is dedicated to its market and its members. Through innovation, we have expanded our footprint and impacted people in countless positive ways. I am truly proud of the work this team puts in every day to help our clients and partners,” said DiGiorgio, when reflecting on his career at Wellfleet.
From TPA to insurer
In 2016, we began the transition from a TPA to an insurance company when Wellfleet and MedPro Group established two accident and health insurance companies
Additionally, our student health business continued to grow, becoming the third-largest student health plan administrator in the country.
By 2017, we had officially made the move to an insurance company when we issued our first student health insurance policy, the beginning of what would later become more than 200 partner colleges and universities across the country.
The Wellfleet years
After 25 years with the name CHP, in 2019 we rebranded to our current name, Wellfleet, with our distinctive “W” icon. That same year, we also launched Wellfleet Workplace, the division of our company that offers high-quality, customizable employee benefit solutions through a suite of voluntary products, including Accident, Critical Illness, Hospital Indemnity, and Short Term Disability insurance.
In 2021, Workplace launched our cloud-based, integrated administration platform to enhance the workplace benefits experience. Through our single integrated system that handles every process from enrollment and case setup to claims and billing, we are making benefits easier for brokers, clients, and members.
Now, here we are in 2023, thirty years after we opened our doors. We could not be more grateful for every client and partner who has trusted us along the way, and we are truly excited to see what these next 30 years have in store. Happy anniversary, Wellfleet!
Learn more about Wellfleet
Visit Wellfleetinsurance.com to learn more about Wellfleet and customer-centric insurance solutions for your unique needs.