What’s in a Name? Insurer Rebrands Reflect Diversification Push

Anthem, Inc. said recently that it will rename itself “Elevance” in a bid to be seen a diversified enterprise, known as much for its technology and business services branches as its traditional health insurance business. Anthem isn’t alone in its broad ambitions. The largest health insurance firms have all diversified their businesses, moves that are likely responses to the tight regulation and limited growth opportunities in health insurance for national-scale firms — and the encroachment of tech and investment firms into the health care sector.

The name Elevance, a combination of “elevate” and “advance,” isn’t official yet. Shareholders will vote on whether to adopt it during the firm’s May 18 investor meeting.

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Peter Johnson

Peter Johnson

Peter has worked as a journalist since 2011 and has covered health care since 2020. At AIS Health, Peter covers trends in finance, business and policy that affect the health insurance and pharma sectors. For Health Plan Weekly, he covers all aspects of the U.S. health insurance sector, including employer-sponsored insurance, Medicaid managed care, Medicare Advantage and the Affordable Care Act individual marketplaces. In Radar on Drug Benefits, Peter covers the operations of (and conflicts between) pharmacy benefit managers and pharmaceutical manufacturers, with a particular focus on pricing dynamics and market access. Before joining AIS Health, Peter covered transportation, public safety and local government for various outlets in Seattle, his hometown and current place of residence. He graduated with a B.A. from Colby College.

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