Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Health Benefits Direct Reports $1.5m Q2 Revenue

Net loss from continuing operations was $2 million

Health Benefits Direct Corporation has announced its results for the second quarter ended June 30, 2009. It reported revenues from continuing operations of $1.5 million, compared to $1.4 million in the second quarter of 2008.

The operating expenses for continuing operations was $3.5 million, compared to $3.1 million in the second quarter of 2008. It is primarily attributable to an increase in InsPro Technologies’ staffing and technology consultants to support current client requirements, future needs and growth plans.

The net loss from continuing operations was $2.0 million, compared to $1.7 million in the second quarter of 2008.

During the second quarter, the company continued its previously announced restructuring activities. As part of these restructuring efforts, in the first quarter of 2009, the company ceased selling health and life insurance products to individuals and families and disposed off a significant portion of its agency business, which is now classified as discontinued operations.

Through its subsidiary, InsPro Technologies, Health Benefits Direct offers InsPro software, an internet-based marketing and administration system used by Insurance carriers and Third Party Administrators.