Nuula | August 08, 2022
Nuula, a fintech company focused on providing small businesses the tools and the capital they need to succeed, today announced a new Term Life Insurance feature that provides small business owners and entrepreneurs with coverage options from a network of top carriers, powered by Even Financial ("Even"), a leading embedded finance marketplace platform, and independent subsidiary of MoneyLion Inc. Through the Nuula app, users will now be able to shop, compare and buy Term Life Insurance, with policies up to $5MM in coverage and terms of 10-40 years.
The policies in Nuula's new Term Life Insurance feature are generated and serviced by LeapLife, an insurtech platform and licensed life insurance agency, that is owned and operated by Even.
"While small business owners and entrepreneurs are investing in their business, they also need to more easily invest in themselves and in the security of their loved ones, Adding Term Life Insurance further expands the range of services we are delivering to meet the diverse needs of today's small business owner."
-Mark Ruddock, CEO at Nuula
Policyholders want a simpler way to shop around, compare policies and prices, and find a policy that is right for them, By partnering with Even, Nuula's small businesses are provided with a curated network of carriers rated A- and above by AM Best, world-class customer support and a search feature that matches people with the right policies and lowest available prices when and where they need it,said Andrew Naoum, SVP of Sales at Even.
Today's news follows the launch of a new personal loan search feature aimed towards early-stage small businesses, powered by Even.
Nuula is building the future of small business performance. Launched in 2021, Nuula is a financial services and technology company focused on serving the small to medium-sized business community. Nuula provides real-time data and analytics, allowing businesses to manage their finances, monitor their credit ratings and user reviews, and more. Nuula is an advocate of financial inclusivity and a proud partner to Kiva to create economic and social good.
About Even Financial and LeapLife
Even is the industry-leading embedded financial marketplace and independent subsidiary of MoneyLion Inc. ("MoneyLion") (NYSE: ML). MoneyLion is the go-to destination for personalized financial management, content, offerings and advice. As part of MoneyLion's enterprise offering, Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2022 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world.
LeapLife is a licensed life insurance agency that utilizes data science, deep underwriting knowledge, and proprietary technology, enabling consumers to apply for instant-decision life insurance policies with real-time quotes, available in all 50 states. LeapLife was acquired by Even Financial (Even) in early 2020.
Beat Capital | May 18, 2022
Beat Capital Partners is expanding into the United States and has selected OneShield Software's SaaS technology platform to launch new Managing General Agents (MGAs). Beat Capital Partners is a highly successful insurance sector investor in the United noted for providing start-up money, infrastructure, risk capital, and A+ rated paper to new ventures.
The outstanding features of the OneShield Market Solutions (OMS) SaaS platform are the reason for Beat's entry into the US market. OMS includes functionality for policy management (binding, quoting, and servicing), billing (invoicing through payment), claims administration and document management, reporting, and analysis. All of these can be customized to meet the complex needs of MGAs.
We did a thorough analysis of available insurance technology platforms and chose OneShield for various reasons, including OMS's all-in-one pricing approach, overall system capabilities, and substantial industry knowledge. The team at OneShield thoroughly understood our overall business concept, and the platform itself has a stellar reputation in the startup and MGA markets."
April Galda Joyce, CEO of Beat Capital America.
Last year was a big year for OneShield's SaaS offering as many start-up insurers and MGAs wanted to adopt scalable and adaptable technologies with proven rapid time-to-market deployment schedules. We are delighted to meet these similar standards for Beat Capital and look forward to working with them as they expand their business in the United States."
Liza Smith, OneShield's Chief Revenue Officer.
Alegeus, HealthSherpa | July 19, 2022
Alegeus, the market leader in healthcare payment solutions, and HealthSherpa, the leading enrollment platform for individual ACA health coverage, have outpaced the industry in individual coverage health reimbursement arrangements (ICHRA) since announcing an integration partnership in the summer of 2020. With updates to their partnership in 2022, both companies are poised to increase their ICHRA enrollments even faster. HealthSherpa, which has seen more than 10X growth in ICHRA pipeline, has enrolled more than three million individuals on its platform in just the last year.
ICHRAs, which were launched at the start of 2020, allow employers to reimburse employees for individual coverage insurance premiums in place of offering them a traditional group-sponsored health plan. ICHRAs can also be used by employees to pay for out-of-pocket healthcare expenses. Organizations administering consumer-directed health benefit programs can set up an ICHRA with Alegeus, and then HealthSherpa helps ICHRA-eligible employees search for and enroll in the best on-exchange and off-exchange individual health plans. This integration bolsters the health reimbursement arrangement (HRA) experience from Alegeus and gives third-party administrators (TPAs) and health plans a strategy for increasing employer and employee participation in health benefit accounts.
“We’re excited about the growing demand our partners have seen for ICHRA since announcing our integration partnership with HealthSherpa,” said Mark Waterstraat, chief customer officer, Alegeus. “Our joint solution is helping employers to deliver quality and cost-effective benefits quickly and efficiently to their employees. While ICHRAs can offer these through employer-defined contribution and better-fit individual coverage plans, they are still new and require a considerable amount of education and awareness. Through this partnership, our efforts are resonating, as evidenced by growing market demand.”
“ICHRAs are a great option for a large and growing number of employers and their employees, and we’ve seen many of our client organizations begin reaping their benefits,” said Ross Honig, president, OCA. “Working with Alegeus and HealthSherpa has allowed OCA to market our ICHRA solution as a “one-stop” product that is seamless and easy to use for brokers, employers, and their employees.”
“Millions of consumers have enrolled in health insurance through HealthSherpa and experienced the increasing appeal of individual coverage. With our new off-exchange options, employers and brokers alike have more options for employees looking to make the transition away from group-sponsored health insurance,” said George Kalogeropolous, CEO, HealthSherpa.
“Millions of consumers have enrolled in health insurance through HealthSherpa and experienced the increasing appeal of individual coverage. With our new off-exchange options, employers and brokers alike have more options for employees looking to make the transition away from group-sponsored health insurance,” said George Kalogeropolous, CEO, HealthSherpa. “ICHRA is changing the dynamic of the relationship between employers and employees on the critical question of health insurance, and we’re thrilled to partner with Alegeus to help employers understand the benefits and communicate them with their employees.”
Alegeus and HealthSherpa recently presented a webinar, “The (Present and) Future of ICHRAs,” showcasing how to simplify the administration of ICHRA benefits and make it easier for consumers to find the care and coverage that meets their needs. To learn more about ICHRAs and view the webinar presentation, please click here or visit https://www.alegeus.com/webinars/.
HealthSherpa builds technology that increases access to health care. We provide end-to-end solutions for consumers, insurance carriers, and agents, delivering a superior ACA marketplace experience to fulfill our mission of connecting people to health coverage under the Affordable Care Act. The HealthSherpa Marketplace, our flagship health insurance enrollment platform, services more than 45,000 agents, 38 carriers, and 9 million consumers.
With more than 25 years of growth and innovation, Alegeus is the market leader in SaaS-based benefit funding and payment solutions. Our highly flexible, white-label platform powers account-based benefit programs such as HSAs, FSAs, HRAs, COBRA, wellness incentives, lifestyle benefits and beyond. We deliver exceptional user experiences and differentiated capabilities that help our partners strengthen their product offerings, operate more efficiently, and unlock their full growth potential. Our partnerships with the industry’s leading health plans, third-party administrators, financial services and benefit solution providers give Alegeus unparalleled reach in the market, with access to more than 100 million commercially insured Americans. And our unique partnership model empowers our clients to achieve outsized results – growing their programs at a rate that is 3-4X the market, and with the highest NPS scores in the industry. We never compete with our clients in the market – we win when they win. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce.