LifeCare Assurance Company

What LifeCare Assurance Company does

LifeCare Assurance Company is a privately held, Woodland Hills, California-based insurance services provider that has specialized in long-term care (LTC) insurance product outsourcing for Fortune 500 insurance carriers for nearly three decades (founded circa 1995). It operates as a wholly owned subsidiary of 21st Century Life and Health Company, Inc., with no external equity capital and a leadership team dominated by long-tenured insurance professionals (CEO Jim Glickman with 47 years of industry experience, EVP Jay Peters with 42 years). LifeCare is the only product outsourcing provider offering both LTC reinsurance and LTC administration in a single integrated package, and the company reports that more than 300,000 lives are covered under policies it administers or reinsures.

The company's core offerings are LTC insurance administration (claims processing, policy servicing, and new business handling for carrier clients) and LTC reinsurance (risk transfer and capital relief for partner carriers). Its operating technology centers on proprietary conservative underwriting protocols developed by SVP Pete Diffley since 1989, which LifeCare positions as the most conservative in the industry and credits with safeguarding the company from adverse claims experience. The technology function is led by a CIO (Jim Rogers) overseeing cybersecurity and digital transformation, with two VP-level technology leaders (Marcos Aguilar on infrastructure, 25+ years at LifeCare; Kalyan Nallapareddy on application development, 17 years at LifeCare) supporting an in-house development and data warehouse operation. There is no documented AI/ML capability; underwriting, claims, and actuarial work are performed by credentialed professionals.

LifeCare generates revenue through premiums collected as reinsurer and through fees for underwriting, policy administration, and claims management services billed to client insurance companies under individually negotiated enterprise contracts. Go-to-market is exclusively enterprise B2B, with no direct-to-consumer sales: the company acquires Fortune 500 carrier clients through direct sales relationships and industry referral networks, and downstream policy distribution occurs through insurance agents and brokers affiliated with the carrier clients. Pricing is not publicly disclosed. Marketing relies on participation in industry events (ILTCIF, SOA ImpACT, Insurtech Connect, ReFocus/ACLI-SOA) and on the executive team's standing in actuarial and insurance industry organizations.

Name

LifeCare Assurance Company

Legal name

LifeCare Assurance Company

Website

https://lifecareassurance.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

251–500 employees

Short description

LifeCare Assurance Company is a privately held US insurance services firm that is the only provider offering both long-term care reinsurance and administration as an integrated outsourcing package for Fortune 500 insurance carriers, covering more than 300,000 lives.

Ownership category

akta.pro rank

Product category

Long Term Care Insurance Services

NAICS

Direct Health and Medical Insurance Carriers (524114), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Life Insurance (6311)

akta.pro primary industry

Annuity + LTC / Long-Term Care Riders (FSAIAJAC)

akta.pro secondary industry

Life & Health Reinsurance Run-off / Legacy Portfolio Management (FSAOAAAJ)

Keywords

• Long term care insurance
• Insurance reinsurance services
• Insurance policy administration
• LTC underwriting services
• Insurance product outsourcing

Headquarters

HQ city

Woodland Hills

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Long Term Care Insurance Premiums: LifeCare generates revenue through reinsurance and administration of long term care insurance products. As both the reinsurer and administrator, the company collects premiums from policyholders and earns fees for underwriting, policy administration, and claims management services provided to client insurance companies.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

LifeCare Assurance Company specializes in developing, launching, and managing Long Term Care Insurance products for Fortune 500 insurance carriers. It is the only product outsourcing provider that combines both reinsurance and full-service administration of long term care insurance in one integrated package. The company operates as both reinsurer and administrator, underwriting risk and processing claims, policy servicing, and new business for client insurance companies and their distribution networks.

Product overview

LifeCare Assurance Company offers an integrated long term care insurance platform combining both reinsurance and administration services in one comprehensive package. As both the reinsurer and administrator, the company directly aligns its interests with partner companies, providing end-to-end solutions for Fortune 500 clients. The company has developed distinctive, innovative, and profitable long term care insurance products over three decades, serving more than 300,000 lives.

Differentiator

Problem solved

Functional benefit

Products and services

• Long Term Care Insurance Administration
• Long Term Care Insurance Reinsurance

Quantifiable outcome

• 300,000+ lives covered by LifeCare-administered LTC insurance policies

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• 21st Century Life and Health Company, Inc.coreOthers21st Century Life and Health Company, Inc. is the parent company of LifeCare Assurance. Jim Glickman is chairman of the board for both LifeCare and its parent company. This is a corporate parent-subsidiary relationship.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Reinsurance Group of America (RGA): RGA is one of the largest global life and health reinsurers with a substantial LTC reinsurance portfolio and in-force management capabilities. Directly comparable as a competitor providing reinsurance and policy administration services to life insurance carriers, particularly in LTC.
• Hannover Re Group: Hannover Re is a major global reinsurer with life and health reinsurance operations including LTC exposure. Comparable as a multi-line reinsurer serving primary carriers; notably, LifeCare VP Stephen Lui previously spent 24 years at a Hannover Re subsidiary.
• Munich Re: Munich Re is one of the world's largest reinsurers, with a life and health reinsurance division covering mortality, morbidity, and LTC. Directly comparable as a global reinsurer serving primary life/health carriers with LTC and long-duration liability expertise.
• Swiss Re: Swiss Re is a top global reinsurer offering life and health reinsurance solutions including LTC and critical illness products. Comparable as a large-scale reinsurer with integrated risk transfer and administration capabilities serving carrier clients.
• SCOR: SCOR is a global reinsurer with a Life & Health division that includes LTC and critical illness lines. Comparable to LifeCare as a multi-line reinsurer providing risk transfer and administrative services for LTC and long-duration health products.
• Pacific Life Re: Pacific Life Re is a specialist life and longevity reinsurer with meaningful LTC reinsurance and block transactions experience. Directly comparable as a focused life/LTC reinsurer working with primary carriers on both new business and in-force management.

Broad incumbents

• Genworth Financial: Genworth is the largest pure-play LTC insurer in the US, with a substantial in-force block. Comparable as a major player in the LTC insurance ecosystem; Genworth's acquisition of LTCG expanded its outsourced administration capabilities, making it both a potential client and competitor of LifeCare.
• Mutual of Omaha: Mutual of Omaha is a leading LTC insurer with significant in-force LTC business among Fortune 500 group and individual markets. Comparable as a primary carrier in the LTC space and a potential LifeCare client seeking reinsurance or administrative outsourcing.
• New York Life: New York Life is a major mutual insurer with a significant LTC in-force block and ongoing administration. Comparable as a large, established carrier with LTC exposure — a potential client for LifeCare's reinsurance and administration services.
• CNO Financial Group (Bankers Life): CNO Financial's Bankers Life subsidiary is a meaningful writer of LTC and Medicare supplement insurance, focused on middle-income and pre-retiree markets. Comparable as a primary LTC carrier with active sales and administration needs LifeCare could serve.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/lifecareassur
• Facebookfacebook.com/lifecareassurance
• LinkedInlinkedin.com/company/lifecareassurance-company

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LifeCare Assurance Company