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.
EasySend | June 13, 2022
EasySend Ltd. (Headquarters: Israel, CEO & Co-Founder: Tal Daskal, "EasySend"), an InsurTech company supporting the digitalization of the insurance and financial industries, has established a Japanese entity, EasySend Godo Kaisha in Tokyo. With Kazuyo, Yamashita as Director of Business Development in Japan, EasySend will further expand its customer base and partner companies in Japan and promote the digitalization of the financial industry in Japan including insurance companies and banks by leveraging its knowledge and experience in the global market, while addressing Japanese laws and market needs such as privacy data and security.
The importance of digitalization is widely recognized in the insurance and financial industries, with strategies to simplify, accelerate, and automate business processes. Driven by Covid 19, the industry has also been rapidly strengthening non-face-to-face channels and digitizing and automating administrative procedures of various forms in paper and PDF, contract processing and payment claims.
EasySend meets the needs of these insurance companies and financial institutions by providing a no-code development platform that does not require programming expertise. In particular, EasySend supports digitization by streamlining customer data intake and automating workflows that previously required paper forms into web forms and workflows in a short period of time and at a low cost. EasySend's platform has already been implemented by dozens of insurance companies and banks in Europe, the U.S., and Israel. In Japan, EasySend's platform has been implemented by Sompo Japan Insurance Inc. Toppan Forms Co., Ltd. has also signed a distributor agreement.
EasySend's platform allows non-system developers to quickly and easily develop systems with intuitive drag-and-drop operations and simple configuration, reducing a company's five-year digital transformation plan to just three months, speeding service delivery, reducing system development and operations costs and improving customer services, resulting in the increase in the revenue. It also leverages a cloud-based, no-code builder that leverages third-party integrations, and analytics to address increasingly diverse and complex customer needs, giving it a competitive advantage over its competitors. EasySend also connects to Salesforce CRM to pre-populate fields, collect electronic signatures, initiate journeys, and optimize results. Enterprises can initiate the digital process through their website, email, SMS or CRM and the customers can start the process from any device, at any place or time. EasySend's platform keeps personal and corporate information secure with strict security measures that comply with Japanese and international standards.
The establishment of EasySend's presence in the important Japanese market will allow us to build relationships with many companies, including Japanese insurance companies and financial institutions. EasySend is a digitalization expert in the insurance and financial industries. EasySend shortens sales cycles, reduces manual work, and increases brand loyalty."
Tal Daskal, EasySend's CEO.
By using EasySend, we are smoothly digitizing our traditional paper-based operations without major changes to our workflow. The file upload function, check boxes, electronic signatures, and other useful tools have made implementation easy. We also feel that intuitive operations such as copy and paste and drag and drop allow us to develop sophisticatedly designed web flows without advanced digital skills."
Akiyuki Matsuda, Data Business Group, DX Promotion Department, Sompo Japan Insurance Inc.
EasySend is a no-code platform that empowers organizations to transform complex forms, customer data intake and signature collection processes into easy digital experiences. By collecting customer data and signatures in a way that seamlessly integrates into internal systems and processes, EasySend empowers organizations to automate workflows and streamline customer interactions.
Milestone Partners | May 27, 2022
Milestone Partners announces the formation of specialty auto insurance holding company Drive Assurance Holdings LLC ("Drive Assurance"). It also announces the acquisition of GoAuto, LLC ("GoAuto") and its technology platform, Adaptive Information Technologies, LLC ("Adaptive Information Technologies") ("AIT").
GoAuto is a vertically integrated, tech-focused personal auto insurance platform that offers low-limit plans via its managing general agent and insurance carrier subsidiaries. GoAuto, which was founded in 2009 and distributes insurance directly to consumers online and through 70 captive shops, has traditionally achieved lower loss ratios and higher profitability than its industry counterparts by employing AIT's unique data analytics and underwriting technology. The dedicated balance sheet capacity of GoAuto's insurance carrier enables for better value chain capture, which is enhanced by reinsurance arrangements that enable an asset light approach and lower retained risk.
GoAuto's speciality market area is expanding, highly fragmented, and anticipated to account for nearly 22% of total personal vehicle insurance premiums of $260 billion. GoAuto is Louisiana's third largest personal auto insurance, with operations expanding into Texas, Nevada, and Ohio. At GoAuto, Milestone intends to implement policies in the areas of environmental, social, and governance, as well as diversity, equity, and inclusion.
GoAuto's proprietary software enables superior customer analytics and data-driven operations that have established them as a market leader. We look forward to working with the management team on executing their strategic initiatives."
Adam Curtin, Partner at Milestone.
Greg Tramontin, CEO and Founder of GoAuto, shared that they are looking forward to working with Milestone as they enter the next phase of their development. They are certain that, together, they will continue to provide best-in-class vehicle protection products and customer support to their loyal customers, given their specialized sector emphasis on financial technology companies and extensive experience in automotive finance services.