Wellthie – an insurance technology company offering leading broker and comparison shopping tools that simplify insurance distribution and optimize choices for small businesses and individuals, has raised $5 million in Series A funding. The round was led by IA Capital Groupwith participation from existing and new investors, including Aflac Ventures and top insurance industry executives. The company plans to use the funds to accelerate its nationwide growth and product development. Andy Lerner, Managing Partner of IA Capital, joins Wellthie’s Board of Directors along with Mike Battaglia, former Chief Consumer Officer at Humana.
The announcement comes as the insurance industry undergoes massive change, increasing the need for simple and scalable technology to better support brokers and carriers as they help small businesses and consumers find more affordable coverage. It is also another great example of insurers becoming venture capitalists to get a foothold in emerging technologies.
Bridging a broad array of medical and ancillary plans, Wellthie provides a next-generation technology and e-commerce platform for insurance brokers to identify new leads, as well as, to quote, guide, and enroll customers in choices that best serve their specific preferences and needs. Wellthie’s intuitive platformincorporates advanced algorithms—enabling forward-thinking brokers and carriers to deliver highly personalized, modern shopping experiences that optimize client satisfaction and dramatically increase sales across multiple insurance lines. To date, Wellthie has successfully partnered with national and regional carriers, its tools power progressive brokers across 20 states, and its scalable platform has generated hundreds of thousands of quotes.
Small businesses today represent 90% of U.S. enterprises and nearly 55 million employees. 80% of small businesses rely on the expertise and advice of insurance brokers to optimize their insurance offerings to employees, including medical, ancillary, and other value-added health and financial products. In virtually every other area of their purchasing, small businesses and their employees are accustomed to convenient, smart, and customized shopping experiences. Today, they expect no less when purchasing insurance.
Small businesses today represent 90% of U.S. enterprises and nearly 55 million employees. 80% of small businesses rely on the expertise and advice of insurance brokers to optimize their insurance offerings to employees, including medical, ancillary, and other value-added health and financial products. In virtually every other area of their purchasing, small businesses and their employees are accustomed to convenient, smart, and customized shopping experiences. Today, they expect no less when purchasing insurance.
