Health Insurance Innovations (HIIQ -13.6%) is down on modestly higher volume on the heels of its strategy update. CEO Gavin Southwell says the company will prioritize its buildout into the Medicare space, but cautions that the shift may lead to the exit of “certain carrier and distribution relationships” in the individual and family plan (IFP) arena.
In the meantime, the company will focus on maximizing cash flows in the IFP business while enhancing its e-commerce capabilities. Mr. Southwell expects its existing IFP book to generate ~$170M in net cash flow, mostly in 2020.
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