NEW YORK–(BUSINESS WIRE)–Vericred today unveiled a new suite of enrollment and member management APIs, ushering in a new era of digital connectivity between health insurance and employee benefit carriers and InsurTech companies. Vericred’s API Platform enables the simple and seamless exchange of quoting, enrollment and eligibility data between carriers and technology companies such as tech-enabled brokers, BenAdmins, HCMs and HRIS solutions. This news is paired with the announcement of groundbreaking enrollment relationships with Beam, CaliforniaChoice, Kaiser Permanente and Oscar.
“The digital transformation of health insurance and employee benefits is being held back by lack of connectivity and industry standards, resulting in incredible inefficiencies and poor consumer experiences,” said Michael W. Levin, Vericred’s co-founder and CEO. “Our enrollment and member management capability democratizes this connectivity and enables industry-wide digital quote-to-card experiences for carriers, general agents, brokers, employers and employees.”
Vericred’s new suite of APIs enables end-to-end functionality including new group installation, renewals, broker of record changes, member additions, terminations and changes, reconciliation and normalized enrollment status and error handling across all lines of coverage.
“Great products need great foundations. Vericred is critical, foundational infrastructure for our insurance and benefits products at Rippling. We could not have built Rippling without this partnership,” said Parker Conrad, Rippling’s co-founder and CEO.
COVID-19 is a catalyst for the industry’s digital transformation, adding a new layer of complexity to the busy Fall enrollment season. Social distancing regulations permits few, if any, in-person meetings between brokers and their group clients. Open enrollments are being conducted virtually. Employers and brokers need tools and connectivity in order to deliver modern digital experiences to their clients and employees. Vericred’s Platform is essential for those looking to quickly and efficiently scale their digital solutions.
Vericred partners with leading California carriers to create a new standard
CaliforniaChoice, Kaiser Permanente and Oscar, representing a majority of California small group medical members, will use Vericred for health insurance and benefits enrollment and management in California and other regions in which these companies offer coverage.
“Small group health insurance has been stuck in the early 2000s as far as online enrolling, managing and renewing,” noted Kirk Whelan, National Vice President of Small Group Commercial business for Kaiser Permanente. “We support the efforts to move toward digitizing small group enrollments.”
“As the Nation’s largest private exchange we are continuously innovating to meet the needs of our brokers and General Agent partners, and our small business customers,” said Michael Close, CEO of CHOICE Administrators, the parent of CaliforniaChoice and ChoiceBuilder. “Vericred allows us to leverage our own investment in APIs across GAs, tech enabled brokers and a broad spectrum of enrollment and benefit administration solutions.”
In addition to the above health insurance carriers, Vericred is working with Aetna, Anthem, Blue Shield of California, Cigna, Guardian, Humana, MetLife, Principal, Regence Blue Cross Blue Shield, and UnitedHealthcare. Vericred has aggressive plans to complete more than 200 carrier integrations over the next two years.
Interested parties should contact [email protected] for more information.
Beam Dental was built around the idea that blending technology with traditional insurance policies could bring incredible value to a commoditized employee benefits market. Beam Dental is a company’s best choice for a differentiated, innovative take on dental and ancillary employee benefits with a nationwide network of dentists. For more information, visit beam.dental.
About CHOICE Administrators
CHOICE Administrators is the parent organization of the nation’s largest multi-carrier, small group private health exchange, CaliforniaChoice, and America’s first ancillary benefits exchange, ChoiceBuilder. Together, the two exchanges currently offer access to 11 health plans and carriers to more than 27,000 small business clients and nearly 450,000 members across the state of California.
About Kaiser Permanente
Kaiser Permanente is one of America’s leading health care providers and not-for-profit health plans. The organization currently serves 12.4 million members in 8 states and the District of Columbia. www.kp.org
Oscar is the first health insurance company built to make health care easy. Headquartered in New York City, Oscar has been challenging the health care system’s status quo since our founding in 2012, developing seamless technology and providing personalized support to help our members navigate their health care. Oscar was the first insurer to offer $0, 24/7 telemedicine to members and to integrate direct scheduling with providers through our app.
Oscar plans also include access to a network of first-rate physicians and hospitals, as well as a personalized Care Team that supports members every step of the way, from finding a doctor to navigating costs. Oscar is known for its easy-to-use digital tools, including a website and mobile app that let members view their health history, speak directly with their Care Teams and virtual providers, and access their account information.
All products and services are provided exclusively by or through operating subsidiaries of Mulberry Health Inc., including Oscar Insurance Company and its affiliates. Say hi or learn more at https://www.hioscar.com or follow us at https://twitter.com/OscarHealth.
Vericred has built the first end-to-end quoting, enrollment and member management middleware (API) platform for health insurance and employee benefits. By simplifying the exchange of data between carriers and technology companies, Vericred is enabling the digital transformation of the health insurance and employee benefits industry. Vericred offers robust solutions for the employer market, as well as the under 65 individual, Medicaid and Medicare markets.