Dr. Robert Hartwig was contacted for his thoughts on Devoted Health Inc., a Medicare Advantage insurance provider, that pulled off a $1.15 billion series D funding round, demonstrating that investors are very interested in Insurtechs. It is currently valued at about $12.7 billion after the latest round of funding. Hartwig said,”Devoted Health may be benefiting from the ongoing debate over whether to lower the Medicare eligibility age, which would add millions of potential customers for Medicare Advantage insurers.” Furthermore, Hartwig highlighted that “Devoted Health’s reported valuation is very high… but it could be justified if it manages to snag significant market share from the biggest managed care players.”
About Robert P. Hartwig, PhD, CPCU
Director, Risk and Uncertainty Management Center
Clinical Associate Professor
Robert Hartwig (Ph.D., University of Illinois, 1993) is clinical associate professor of finance and director of the Risk and Uncertainty Management Center. His research focuses on insurance markets and structures, risk management, pandemic risk, risk-bearing capital market instruments, the financing of technology risks and venture capital in insurance markets. He makes frequent presentations to insurance industry management, boards of directors, regulators and legislators. Prior to joining the Darla Moore School of Business, he was president and economist for the Insurance Information Institute in New York and in prior positions worked for Swiss Re, the National Council on Compensation Insurance and the U.S. Consumer Product Safety Commission. He has also served as an adjunct professor at Florida Atlantic University. His professional experience includes expert witness testimony and testimony before numerous congressional and state legislative committees. He holds the Chartered Property Casualty Underwriter (CPCU) credential and speaks frequently in the media on all issues related to insurance markets.
