CLEARWATER, Fla.--(BUSINESS WIRE)--Digital Media Solutions, Inc. (NYSE: DMS), a leading provider of technology-enabled digital performance advertising solutions connecting consumers and advertisers, announced the launch of Protect Health Insurance Agency as an approved agency to sell health insurance policies.
“Protect Health Insurance Agency opens up a completely new segment of the market for DMS,” said DMS CEO Joe Marinucci. “This milestone gives DMS access to the $130 billion Medicare insurance market that we previously did not have access to.”
Protect Health Insurance Agency was a key strategic initiative for DMS in 2021, launching just in time for the 2021 AEP/OEP period. Protect Health Insurance Agency is expected to start producing revenue in the fourth quarter of this year, with more meaningful contribution expected in 2022 and beyond.
“DMS relies on an impactful toolset, inclusive of our first-party data asset, proprietary technology stack and expansive digital media reach, to remove friction from the advertising ecosystem, and Protect Health Insurance Agency is taking that innovation one step forward,” said DMS COO Fernando Borghese. “By selling health insurance policies directly to consumers, we are able to further monetize the high-intent consumer traffic that we generate and leverage our existing capabilities to streamline and personalize the research and purchasing process for consumers. DMS is now fully ingrained in the health insurance and Medicare markets year round, continuously investing to grow, and our toolset will support our efforts and give us a strong competitive edge and ability to scale. The more we grow within the Medicare business, the more consumer insights we obtain and the better we can serve both the insurers and the consumers.”
Using its new DBA, Protect Health Insurance Agency, DMS will continue its meaningful focus on the insurance industry, benefiting from continued secular tailwinds as the digital transformation of ad spend continues to accelerate, and demand from consumers and advertisers remains strong. Insurance, inclusive of auto, home, life and health, remains the largest vertical for DMS. DMS works with the top insurance providers, actively growing the list of insurance providers, agents - and now consumers - who buy from DMS. The recent acquisition of Crisp Results will continue to support the ongoing growth of the DMS health insurance business, aiding in the company’s efforts to grow within the insurance space and guide consumers through the sales funnel from start to finish.
About Digital Media Solutions
Digital Media Solutions, Inc. (NYSE: DMS) is a leading provider of technology-enabled digital performance advertising solutions connecting consumers and advertisers within auto, home, health and life insurance plus a long list of top consumer verticals. The DMS first-party data asset, proprietary advertising technology, significant proprietary media distribution and data-driven processes help digital advertising clients de-risk their advertising spend while scaling their customer bases. Learn more at https://digitalmediasolutions.com.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. DMS’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. These forward statements are often identified by words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions. These forward-looking statements include, without limitation, DMS’s expectations with respect to its future performance and its ability to implement its strategy, and are based on the beliefs and expectations of our management team from the information available at the time such statements are made. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside DMS’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) our ability to successfully grow and operate our new health insurance agency business; (2) our ability to identify, evaluate, and complete any strategic alternative in connection with our review of strategic alternatives; (3) the possibility that DMS may not be able to realize higher value for its business through a strategic alternative and therefore retains its current corporate and business structure; (4) the possibility that DMS may decide not to undertake a strategic alternative or that it is not able to consummate any proposed strategic alternative due to, among other things, market, regulatory and other factors; (5) the potential for disruption to DMS’s business, including, among other things, attracting and retaining customers, suppliers, key personnel; (6) any potential adverse effects on DMS’s stock price resulting from the announcement of the process to review potential strategic alternatives or the results of that review; (7) the COVID-19 pandemic or other public health crises; (8) changes in client demand for our services and our ability to adapt to such changes; (9) the entry of new competitors in the market; (10) the ability to maintain and attract consumers and advertisers in the face of changing economic or competitive conditions; (11) the ability to maintain, grow and protect the data DMS obtains from consumers and advertisers; (12) the performance of DMS’s technology infrastructure; (13) the ability to protect DMS’s intellectual property rights; (14) the ability to successfully source and complete acquisitions and to integrate the operations of companies DMS acquires, including the Crisp Results assets and Aimtell, PushPros and Aramis Interactive; (15) the ability to improve and maintain adequate internal controls over financial and management systems, and remediate the identified material weakness; (16) changes in applicable laws or regulations and the ability to maintain compliance; (17) our substantial levels of indebtedness; (18) volatility in the trading price on the NYSE of our common stock and warrants; (19) fluctuations in value of our private placement warrants; and (20) other risks and uncertainties indicated from time to time in DMS’s filings with the SEC, including those under “Risk Factors” in DMS’s Annual Report on Form 10-K/A and its subsequent filings with the SEC. There may be additional risks that we consider immaterial or which are unknown, and it is not possible to predict or identify all such risks. DMS cautions that the foregoing list of factors is not exclusive. DMS cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. DMS does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
