Insphere Insurance Solutions

Blackstone Group LP is leading the group of investors of private equity. This group released a press note on Tuesday in which it is said that the group is about to launch a new insurance agency and the main focus of this agency will be providing opportunities to middle income households and small business.

Affiliation of Credit Suisse Group AG and Goldman Sachs Group Incorporation is also included with this group and they said in a statement that the group saw a gap of serving in the market. The name of the new company will be Insphere Insurance Solutions and Phillip Hildebrand will lead the company who is a former executive of New York Life.

Focus of the Insphere Insurance Solutions will be to serve the middle income market and small business, said by the Phillip Hildebrand. Major insurance companies and insurance agents have totally ignored this market in this area as they have migrated from this area to serve more potential customers.

Phillip Hildebrand is also working as the chief executive of another firm named as “HealthMarkets”. This company has over 3,500 agents and has a plan to hire even more agent. When Insphere Insurance Solutions will be formed, it will give a wide access to the larger number of products to those agents in this area, said by the spokesman of the company.

Insphere Insurance Solutions is a Dallas based insurance company which has a plan to be up in running condition by 2010. Insphere is about to sign an agreement of marketing with ING Group to offer their universal life products and term life as well.

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