RADNOR, Pa., Sept. 10, 2008 (GLOBE NEWSWIRE) -- Health Benefits Direct Corporation (OTCBB:HBDT), a leading technology developer, innovator and service provider for the direct marketing, sales and administration of a wide range of individual health insurance, family health insurance, life insurance and other related products for the individual and family insurance market, today announced that Robert J. Oakes, President of the Company's Atiam Technologies subsidiary, has joined the Company's Board of Directors.
"We are pleased to announce Bob's appointment to our Board," said Anthony Verdi, Acting Principal Executive Officer and Chief Financial Officer of Health Benefits Direct. "We will benefit tremendously from Bob's insight and experience in developing web-based insurance administration software applications. Bob will be a great asset to our Board as we continue to grow our technology business."
Mr. Oakes founded Atiam in 1986 and has led the company's effort to design and develop its flagship product, InsPro, a state-of-the-art insurance, marketing, administration, and claim system that provides end-to-end insurance processing, technology and support, for a broad range of life, health, and disability products. Mr. Oakes joined Health Benefits Direct in October of 2007 when it completed the acquisition of Atiam Technologies. Prior to founding Atiam, Bob held positions in both software development and financial services.
Mr. Verdi continued, "Atiam's flagship software product InsPro continues to be well received by industry leading insurance carriers and third party administrators throughout North America. Bob and his Atiam team have been successful in assisting clients to rapidly introduce new products to the market, convert their current business to the InsPro platform, and customize the functionality of the InsPro product to further support their needs."
Mr. Oakes appointment brings the number of Heath Benefits Direct Board Members to twelve. Mr. Oakes joins Donald R. Caldwell, Alvin H. Clemens, Charles A. Eissa, John Harrison, Warren V. Musser, Sanford Rich, L.J. Rowell, Paul Soltoff, Frederick C. Tecce, Anthony R.Verdi and Edmond J. Walters. Eleven members of the Board are nominees for director at the Company's next annual meeting of shareholders.
About Health Benefits Direct Corporation
Health Benefits Direct Corporation is a technologically innovative contact center based insurance agency that operates an interactive online marketplace enabling consumers to shop for, compare, and apply for individual health insurance, family health insurance, life insurance and other related products for the individual and family insurance market. Its streamlined Quick-to-Call sales platform, supported by proprietary online technology, dialing applications and tele-application voice signature process, promotes efficiency for consumers purchasing and insurance carriers underwriting individual and family insurance products. Through its subsidiary, Insurint(tm) Corporation, Health Benefits Direct provides a proprietary, professional-grade, web-based agent quote engine portal that aggregates accurate real-time quotes from multiple highly-rated health insurance carriers, life insurance carriers and carriers of related insurance products. Insurint's user-friendly platform enables agents to view and share with proposed insureds detailed comparisons of multiple insurance products, policy brochures and other useful information instantly, resulting in a highly competitive application processing platform for insurance agents and consumers. Through its subsidiary, Atiam Technologies, Health Benefits Direct offers the InsPro system, an internet-based marketing and administration system used by Insurance carriers and Third Party Administrators. www.healthbenefitsdirect.com
Safe Harbor Statement
In addition to historical facts or statements of current condition, this press release contains forward-looking statements within the meaning of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995, including statements regarding the effect of the agreement to offer the Insurint platform to independent agents. Forward-looking statements provide Health Benefits Direct's current expectations or forecasts of future events. Moreover, Health Benefits Direct cautions readers that forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially and which are identified from time to time in Health Benefits Direct's reports filed with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Health Benefits Direct undertakes no obligation to update publicly any forward-looking statement.