The new name for MedAssurant.
By 2012 MedAssurant had established itself as a major innovator in healthcare information technology, on a breathtaking growth trajectory. Over the course of a decade MedAssurant had grown to where its products and services touched over a quarter million physicians, 195,000 clinical facilities, and 120 million Americans, across United States, Puerto Rico, and the District of Columbia.
Beyond the impressive growth statistics, there was the purpose and inspiring vision of its Founder, Keith Dunleavy: to bolster the financial performance of payers, support the clinical work of providers, and improve the healthcare outcomes of patients. In a word, MedAssurant would transform the way managed healthcare works—and make it work better— through a unique combination of sophisticated data analytics and targeted intervention.
What MedAssurant lacked was a name befitting this impressive strategic business narrative. ‘MedAssurant’ mis-positioned the company in a way that made it sound like one of its primary clients—insurers. Given the tricky point that these clients were also competitors, this was no inconsequential scenario. MedAssurant needed to ‘create separation’ and make the case that it possessed a capability that was unique, deep, and tough to replicate—let alone ‘beat.’ Leadership identified name change as the tool to proclaim this distinction and serve as an event to get the company seen anew—to give MedAssurant an attentive audience for its new message.
With that plan in mind, the Company conducted an industry-wide review and chose BrandingBusiness to guide it to a new name, reposition its brand, and help it refine its Purpose, Vision, and Mission. Using our deep naming expertise and strategic counsel, MedAssurant landed on ‘Inovalon,’ as the new name of the corporation. Selected for its strong TM profile—and obvious derivation from the word that was a business-defining ideal (innovation)—it was released to the public on June 5, 2012. In addition, the company drew on two other areas of our professional ability: name launch logistics and corporate identity design. BrandingBusiness created not only a strong typographic rendering of the Inovalon name—carefully coupling it with its legacy symbol—but developed an entire visual brand language to coherently re-shape all of its print and online communications. The MedAssurant Chyrsalis now has wings.