Novus Acquisition & Development Corporation (NDEV), a Nevada based enterprise, is an insurance carrier and aggregator that offers cannabis health plans.
The Novus business model is the first of its kind in the US and Canadian legal cannabis and hemp markets. We offer cost-savings health plans for patients and businesses domestically and internationally, focused around, cannabidiol (CBD), tetrahydrocannabinol (THC) cannabis, and also dental, vision, hearing, telemedicine and other healthcare products and services.
First Mover Advantage
Being first has given Novus a competitive advantage. We’d already established brand recognition and customer loyalty before other competitors even began to move into this particular cannabis sector. First Mover Advantage has allowed the company to consistently maintain the lion’s share of the market.
Unlike conventional insurance carriers, the Novus program offers significant cost-savings on legal cannabis meds and other supplemental health plans. Conflicting federal and state laws surrounding this burgeoning industry have caused widespread confusion, leading to conventional insurance companies continuing to refuse coverage of hemp, cannabidiol (CBD), medical cannabis (THC) and alternative/ integrative treatment options for patients.
The Novus cannabis health insurance business model is unique. Novus overcomes the deficiencies of private and government health plans in the US and Canada and integrates supplemental plans that include legal cannabis meds.
The main reasons behind Novus’ head start in this health insurance sector can be attributed to three factors:
- Since cannabis is legal only on the state level, many major insurance carriers will not jeopardize their multi-billion-dollar Federal Medicare/Medicaid contracts by doing business in this sector.
- Insurance companies generally don’t approve meds that have not been approved by the US Food & Drug Administration (FDA).
- Major carriers usually concentrate on acquiring market share in an existing market rather than testing a new market.
Future Of Novus
The health insurance industry is expanding rapidly, internationally the sector will grow from a value of $1.2 trillion to $3.7 trillion by 2021 - and Novus will be there gaining market share! Novus continues to strengthen its position in the health insurance and legal cannabis marketplace through solid relationships with providers leaving fewer resources for potential rivals.
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