Name: David Dintenfass
Previous title: EVP and Head of Products and Emerging Growth Markets, Fidelity
New title: President of Enterprise Growth, Humana
Humana announced it was bringing Dintenfass on board to lead enterprise growth five minutes after releasing a growth outlook for 2024 that significantly undershot investors’ expectations.
In the newly created role, Dintenfass will oversee Humana’s growth plan with a focus on customer acquisition and retention starting Feb. 5, the insurer said in a news release.
Humana said the creation of the position will help the payer maximize long-term growth in the Medicare Advantage market. Humana has grown into the second-largest MA payer in the U.S., after UnitedHealth, but expects that growth to slow significantly — earlier this month, the payer lowered its expectations for membership increases in 2024 due to rising competition from other plans and more attrition than expected during the MA open enrollment period.
Humana now expects to increase MA membership by 100,000 people this year, representing year-over-year growth just shy of 2%. Previously, Humana said it would outstrip expected industry growth of 6% to 8%.
Humana released fourth-quarter 2023 financial results on Thursday that included a whopping net loss of $540 million. The Louisville, Kentucky-based payer also slashed its profit outlook for 2024, causing its stock to tumble 11% over Thursday’s market trade.
Humana is tapping Dintenfass to turn this flagging growth around. The executive comes to the insurer from financial services corporation Fidelity, where he led its enterprise segments team.
Prior to joining Fidelity, Dintenfass held management, marketing and executive sales roles at consumer goods company Procter & Gamble and Bank of America.