What’s in a name? American Insurer Finds New Options for Its Financial Solutions
A new group of companies, led by the insurer American Insurance, is exploring what the name of its solutions should be, according to the company.
“I think we need to be clear, the name that we use in our products and services is very important to us and to our customers,” said Dan Womack, chief marketing officer of American Insurers.
“The name that comes from the American people should be the name for our products.”
The group is taking the lead on the name, which has become a lightning rod for controversy since the Affordable Care Act’s implementation in 2013.
In a blog post, the company said the name “American Insurers” is an “incorrect” or “misleading” term, but it believes it can help people make better choices.
“We are working to ensure that the American Insured name reflects our commitment to excellence in customer care and service,” Womacks said.
The American Insures group of insurers has been under fire for the name since the ACA went into effect in March 2014.
It has been at the center of controversy because of the name and the insurer’s efforts to be inclusive of people of all races, ages and economic backgrounds.
The company has been criticized for not fully identifying its racial and ethnic minorities, including its Black and Latino customers.
The insurer also has been blamed for not taking steps to provide insurance to all Americans, despite the fact that nearly 90% of the nation’s population is considered white.
Womanks blog post cited data from the insurance agency Equifax that showed a large share of white customers are uninsured.
He said the AmericanInsurers group is “doing everything we can to help people understand what it means to be an American and what they need to do to be a good American.”
The company said it’s not the first to consider the name change, nor is it the only insurer to look at changing the name.
Earlier this year, an insurance company, Anthem Blue Cross and Blue Shield of Tennessee, announced it was considering a name change.
That announcement came a day after the company announced it would buy out a number of insurers’ health insurance offerings in the individual and small group markets, including Anthem BlueCross and BlueShield of Tennessee.
Anthem BlueClaws is also working on a name changes.
The new names were announced in a press release from the company, which said its new names will “recognize that American is a unique identity that is built on the shared values of individualism, personal responsibility, and community.”
“We want to continue to make our products accessible and affordable to people of color, and our new names are a way to do just that,” said Karen A. Brown, president and CEO of AmericanInsures, in the press release.
“As a consumer advocate, I want to be sure that my customers and employees are protected and heard.”
Brown also said that the name will be “more accessible to individuals of color,” and that the company will continue to be transparent about its racial demographics and the names that are associated with it.