We Create Markets
HDE Innovations LLC is a team of innovators dedicate to establishing new markets through the creation of financial instruments that drive opportunities for investors and issuers alike.
Innovations
Each HDE innovation is designed to create market-based opportunities be solving large industry challenges. These solutions provide multiple streams of revenue by establishing markets based on value across the counterparty spectrum. We at HDE bring together industry knowledge and technical expertise to deliver strategies and support to make these innovations a reality.
HIBS
Health insurers, while handling billions in premium flows each year, earn negligible amounts of investment income and ignore the unrealized strength of their balance sheets.
In response, we have developed a program that we call HIBS (“Health Insurance premium Backed Securities”) that will enable health insurers to increase materially their investment income without an adverse impact on their balance sheets or credit ratings.
HIBS Revenue Impact
- Float periods available to insurers are synthetically extended to bolster non-operating returns
- $1.1+ Trillion TAM across 900+ high-quality insurers
- Closes non-operating income yield gap versus Property and Casualty Insurers
Investors will show keen interest in HIBS securities as they expand the universe of options for shorter term debt securities offering superior returns to other comparable investment options.
Additionally, while a common choice for high quality, short-term borrowers, traditional commercial paper often misses this opportunity due to increasingly short durations and overhead costs financial institutions are keen to avoid.
- Fresh primary and, potentially, secondary markets emerge for specialized near-term instruments
- A new short-term debt instrument with higher rates of return than traditional commercial paper is created that expands investors’ options.
- HIBS minimizes risk and is expected to attain high ratings from rating agencies.
Total Addressable Market
Services
Ideation & Development
From independent research of known industry issues to direct engagement by stakeholders, HDE brings its expertise to bear to envision and design financial products and markets solutions to drive revenue, overcome challenges and put clients at the edge of financial market innovation.
Deals & Partnerships
As part of any innovation, it is not enough to have an idea; you must bring the right participants to the table. HDE identifies industry leaders and innovators and can help structure the mechanism necessary to make each new opportunity a reality.
Servicing
HDE has the capacity to leverage technology in support of these innovations, establishing platforms or providing oversight of complex instruments, such as our first creation, HIBS.
Who we are
Leadership Team
With significant health and financial industry experience, the HDE leadership team is uniquely positioned to develop and deliver innovative financial products capable of establishing new markets with a steady hand on risk mitigation.
Brian Miller
Founder and CEO
Brian is the Chief Executive Officer of HDE LLC a financial innovation think tank. Brian founded HDE to develop far-ranging solutions that address large scale industry issues.
Brian has over 14 years of experience designing and implementing transformational solutions for commercial and investment banks. These solutions have ranged from process and strategies to address regulatory challenges, to the creation of advance machine learning algorithms to deliver new capabilities. In his career he has worked for multiple international financial institutions, including HSBC Global Banking and Markets, as well as holding senior positions at Big 4 consulting companies (Accenture & KMPG).
Brian is a graduate of The University of Cincinnati (B.A.)
Mitchell Kornblit
Executive Chairman
Mitch has been an investment banker serving the healthcare services industry for 35 years. During that time, his clients have included leading health insurers, hospital systems, physician organizations, specialty companies and managed care insurers.
He has worked with not-for-profit, for-profit, private equity-owned and public companies alike. The transactions he has structured and managed include debt and equity transactions and mergers, divestitures and acquisitions.
Mitch is a graduate of The Johns Hopkins University (B.A./M.A.) and the Columbia Law School (J.D.). He practiced law for six years with Cleary Gottlieb in New York and Brussels.
Michael Kaye
Head of Markets
Michael has held senior roles in institutional finance for over three decades. Most recently, he was a Managing Director leading the digital asset and blockchain platform at a global investment bank.
Michael also held senior roles in both trading and portfolio management at several prominent investment funds, including as Head of Europe and Asia Trading and Capital Markets at Balyasny Asset Management (UK), and a Partner at SAC Global Advisors. He currently serves as HDE’s Head of Markets.