[pierre]

Thanks for your answer. I'm not American so not really familiar with your health system. Agreed that B2B will be easier to scale given acquisition cost. However scaling with corporate client limit you in your ability to do good risk selection as I believe you will have to accept all employees.

[mjamilkowski]

Underwriting a whole group actually gives us protection from risk selection and creates a more population based risk which is more stable. Yes there will be individuals that have extreme expenses, which is why we have reinsurance. It is the principle of risk pooling and credibility.