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Health Insurance Innovations updates strategy amid review

Health Insurance Innovations Inc. provided an update on its business strategy and its ongoing strategic review process.

The company said the focus for its individual and family plan business will be to maximize cash flows and enhance e-commerce capabilities. The existing book of IFP business, including policies in force and expected renewals, will realize approximately $170 million of net cash flows from existing contract assets and commissions payable.

Health Insurance Innovations said a significant amount of that operating cash flow will be available in 2020.

Prioritizing the "rapid build out" of the Medicare business is the "best path forward" to maximize value for shareholders, President and CEO Gavin Southwell said in a statement.