Terri Schmidt
Executive Team
Executive Vice President, Business Development
Terri Schmidt thrives in a fast-paced, challenging business environment. As a senior executive with extensive experience in Business Development, Strategy, Marketing and Alliance Management, she has a proven track record of building strategic partnerships and alliances with successful implementation and integration results. Through Schmidt’s exceptional ability to translate strategy to executable business and operating plans, she enables leadership alignment ensuring the achievement of business targets. Since her position as Executive Vice President of Business Development for start-up Life and Specialty Ventures, L.L.C. (LSV), and its affiliate company, USAble Life, Schmidt has been accountable for strategy and business development that includes establishing complex partnerships and alliances.
In her position, Schmidt has demonstrated her commitment to growing the business by leading the formation process that resulted in a new LSV partnership with five Blue Cross and Blue Shield plans, which garnered more than $100 million in new revenue the first year. Schmidt’s entrepreneurial spirit, ability to facilitate executive alignment and deep understanding of the health and ancillary insurance industries has enabled her to successfully lead partnership negotiations, develop contractual agreements and spearhead due diligence activities resulting in one of the most successful Blue Plan joint ventures. To ensure that the partnership achieves mutually beneficial outcomes, she developed and executed an Alliance Management process to facilitate ongoing partnership alignment. With her keen skills in identifying new growth opportunities through sound joint venture alliance models, Schmidt is also leading the strategic and business planning process that will poise LSV to grow from $400 million in revenue to more than one billion in revenue over three to five years.
The foundation of Schmidt’s career began at Blue Cross and Blue Shield of Florida (BCBSF) where she developed statewide and regional marketing plans, analytical frameworks and planning models that used the science of market research to grow the company’s market and financial position. Recognized for her strategic thinking strength, Prudential Healthcare created a position for Schmidt in Atlanta, GA where she led the development of a national small group marketing strategy for 42 markets where she was accountable for managing more than $600 million in revenue. Through her diligence and extensive knowledge of the market, Schmidt helped the company realize a savings of more than $20 million dollars by streamlining product portfolios, operations, and exiting non-profitable markets.
Recognized as a change agent, BCBSF recruited Schmidt to return to Florida where she had a longstanding career with a series of progressive leadership positions. During her tenure at BCBSF, she developed strategic marketing plans for a $1.2 billion segment, which resulted in 15% year-over-year growth. With a results-focused mindset and tenacity, Schmidt was selected as one of eight high potential employees to launch a new subsidiary, Navigy. As a Principal for Navigy, she was instrumental in developing future health industry scenarios. Her work at Navigy led to the formation of Novitas Health, L.L.C., an alliance with BCSBF and Arkansas Blue Cross and Blue Shield plans, where Schmidt also served as Managing Director. Novitas Health served as the catalyst for Blue Plan alliance capability development. Her successes were recognized as a critical resource in helping BCBSF grow its subsidiaries and was quickly promoted to Vice President of Marketing, Sales and Solutions Development for three subsidiaries; Florida Combined Life, Florida Combined Insurance Agency and Comp Options Insurance Company. She consistently exceeded sales and profitability targets by approximately 25% in 2004. From there, Schmidt was again promoted to President for these three subsidiaries with combined revenue of more than $150 million dollars.
Schmidt graduated from Cum Laude from Jacksonville University (in Florida) with a BS in Economics. In addition, she has received continuing executive education through the Wharton School of Business and the University of Chicago with a focus on strategic marketing, strategic alliances and mergers and acquisitions. She has also completed graduate coursework in strategic marketing, business operations and business statistics.
Schmidt is active in her community where she serves on the Board of Directors for the Duval County Early Learning Coalition, a state program founded to ensure children receive pre-school education. She also volunteers among various charities including United Way, Jack Del Rio Foundation, Humane Society, American Cancer Society and American Red Cross. In her free time, Schmidt enjoys a health and fitness regimen that includes running, tennis, and biking.