Alvin H. Clemens
Advisor, Health Care
Trustee Emeritus, Penn State Board of Trustees
Board Member, Penn State Smeal College of Business Board of Visitors
Alvin H. Clemens ’59 has recently been granted Trustee Emeritus status from the Penn State Board of Trustees. He has been member of the Board of Penn State since 1995 to 2014. He graduated with a B.S. in Business Education from The Pennsylvania State University in 1959 and continued with graduate work at San Diego State School of Business Administration. He was the founder of Academy Insurance Group in 1969 and served as Chair and CEO through 1985.
He was the founder of Academy Insurance Group in 1969 and served as Chair and CEO through 1985.Academy Insurance Group initially capitalized at $309,000 and sold for $650 million in 1985. Academy was the first insurance company to sell health insurance direct to consumers via the television, plus, it developed the Retirement Deposit Fund which later morphed into Universal Life. From 1988-1998 he was the major shareholder, chair, and CEO of Provident American Corporation which owned Provident American Life and Provident Indemnity Life and Health, life insurance and health via independent agents. This morphed into Health Axis. From 1998 through 2002 he served as founder, chair, and CEO of Health Axis, which reached a market value of $2.5 billion during the internet boom. Health Axis, in conjunction with AOL, initiated selling Health Insurance digitally via the internet. From 2005 -2009 Mr. Clemens was founder, chair, and CEO of Health Benefits Direct, now InsPro Technologies LLC, and from 2009-2014 he served as Chair and CEO of The Provident Corporation and US Hospital Direct Corporation, which was later purchased by AOL.
He is a member of various organizations including Who's Who in America, Who's Who in Finance and Industry, Who's Who in the World, Young Presidents Organization, Philadelphia Presidents Organization, World Presidents Organization, Aronimink Country Club, and The Pyramid Club. In 1997, he was honored with the Penn State Alumni Fellow Award, and, in August 2000, was honored in Israel with the Theodor Herzl Award of the Jerusalem Fund of Aish HaTorah and the Municipality of Jerusalem for Citizenship and Entrepreneurship. His board memberships include the Smeal College of Business Board of Visitors at Penn State, the Penn State Great Valley School of Graduate Professional Studies Advisory Board, The Pennsylvania Insurance Federation Executive Committee and Board of Directors, the Pennsylvania Convention Center Expansion Advisory Committee, the Waterville Ski Academy from 2009-present, and Chairman of Banking and Insurance Committee for Pennsylvania Impact Commission 1996. He was appointed by Governor Ridge to The Banking and Insurance Transition Team in 1995 and appointed in May 1995 to serve on the Board of Trustees. He was reappointed to five subsequent terms and served for 19 years.