U.S. insurer WellPoint (WLP) is planning to change its name to Anthem.
WellPoint is planning to change its name to Anthem by the end of 2014. According to Joseph R. Swedish, CEO of the company, the Anthem brand is better recognized by consumers and it would also provide a more unified identity for the company’s employees, reports The Wall Street Journal.
“We’re no longer a health insurer; we’re truly a health plan engaging with individuals as opposed with large blocks of business,” Swedish told Indianapolis Business Journal. “There was this public brand that was a mixed kind of message. Our own employees had difficulty discerning between WellPoint, Anthem and which one is really running the show
WellPoint and Anthem merged in 2004. At the time, the companies decided to take on the WellPoint name. However, the Anthem brand has been expanded over the years and has become more recognizable than the company’s current name, which is mainly used in investor materials, a charitable foundation and some social media, WSJ notes.
WLP shares were up 1% as of Wednesday afternoon.