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now Ideon.

pronounced: “eye-dee-ahn”

While we have a different name, we have the same great mission: to connect the health insurance and employee benefits ecosystem. Faster. Beer. Awesomely.
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Category: Press Releases

Ideon Achieves HITRUST Risk-based, 2-year Certification to Further Mitigate Risk in Third-Party Privacy, Security, and Compliance

Posted on by Ideon

HITRUST Risk-based, 2-year Certification validates Ideon is committed to meeting key regulations and protecting sensitive information

NEW YORK, January 18, 2023 – Ideon, the API platform powering digital experiences in health insurance and benefits, today announced its Enrollment & Member Management API has earned Certified status for information security by HITRUST.

HITRUST Risk-based, 2-year (r2) Certified status demonstrates that the organization’s Enrollment & Member Management API has met key regulations and industry-defined requirements and is appropriately managing risk. This achievement places Ideon in an elite group of organizations worldwide that have earned this certification. By including federal and state regulations, standards, and frameworks, and incorporating a risk-based approach, the HITRUST Assurance Program helps organizations address security and data protection challenges through a comprehensive and flexible framework of prescriptive and scalable security controls.

“Every day, sensitive, personally identifiable employee benefits data flows through our platform and across the benefits industry ecosystem, making the security and protection of this data of the utmost importance,” said Michael W. Levin, co-founder and CEO of Ideon. “By achieving HITRUST Risk-based, 2-year Certification, Ideon is demonstrating to its customers and partners that it’s committed to meeting the highest standards of data protection and information security.”

“The HITRUST Assurance Program is the most rigorous available, consisting of a multitude of quality assurance checks, both automated and manual,” said Bimal Sheth, Executive Vice President, Standards Development & Assurance Operations, HITRUST. “The fact that Ideon has achieved HITRUST Risk-based, 2-year Certification attests to the high quality of their information risk management and compliance program.”

About Ideon

Ideon is the way health insurance carriers and employee benefits providers connect with technology partners to deliver seamless consumer experiences at every stage of the member journey. Ideon is not the websites or apps one uses to choose a plan or find a doctor. It is the infrastructure, the ‘pipes,’ that simplify the complex exchange of quoting, enrollment, and eligibility data between carriers and the technology partners so that they can, in turn, deliver health and employee benefits to hundreds of millions of Americans everyday. Ideon’s APIs transmit billions of data points between InsurTechs and insurance carriers, powering an amazing benefits experience for all. Faster. Better. Awesomely. To learn more, please visit: www.ideonapi.com.

Sun Life and Ideon Partner to Make Benefits Enrollment Faster and Easier for Employers, Employees and Brokers

Posted on by Ideon

Ideon’s API powers rapid, accurate data exchange between Sun Life and benefits administration platforms

July 27, 2022  — Ideon, the API platform powering digital experiences in health insurance and benefits, today announced that it has partnered with Sun Life to enable a seamless digital enrollment and administration experience for the group benefit provider’s ancillary offerings.

Sun Life, a leading provider of life, disability, absence management, supplemental health, and dental insurance, will use Ideon’s APIs to connect and exchange data with the growing ecosystem of HR and benefits platforms. This creates a more accurate, engaging, and automated benefits enrollment and administration experience for brokers, employers, and Sun Life members across the country.

“This partnership will enhance Sun Life’s data exchange capabilities with benefits administration platforms, making it easier for employees to enroll in and for employers to manage their Sun Life portfolio of benefits – while also improving the broker experience,” said David Healy, Senior Vice President of Group Benefits at Sun Life. “We are thrilled to work with Ideon to enhance our digital connectivity as we continue to innovate new solutions for employers.”

Amid a competitive job market, employers are expanding the scope and variety of their benefit offerings to attract and retain talent. Research by LIMRA shows that 66 percent of employers believe their employees will expect more ancillary and non-medical benefits options in the future. As the number of benefits employers offer increases, so does the administrative workload on HR teams.

Thanks to the connectivity powered by Ideon, previously manual benefits administration tasks for Sun Life’s employer clients and members are now automated. By spending less time and effort administering the growing number of benefits they offer employees, HR teams have more time to focus on other initiatives for their organizations.

“By selecting Ideon’s APIs, Sun Life is signaling its commitment to continued digital innovation that greatly benefits members, employers and brokers,” said Michael W. Levin, co-founder and CEO of Ideon. “As the adoption of voluntary benefits grows, Ideon is a valuable partner to Sun Life and other carriers, making it easier for them to capitalize on this opportunity and empowering them to deliver the best benefit experiences to their clients.”

About Ideon

Ideon is the way health insurance carriers and employee benefits providers connect with technology partners to deliver seamless consumer experiences at every stage of the member journey. Ideon is not the websites or apps one uses to choose a plan or find a doctor. It is the infrastructure, the ‘pipes,’ that simplify the complex exchange of quoting, enrollment, and eligibility data between carriers and the technology partners so that they can, in turn, deliver health and employee benefits to hundreds of millions of Americans everyday. Ideon’s APIs transmit billions of data points between InsurTechs and insurance carriers, powering an amazing benefits experience for all. Faster. Better. Awesomely. To learn more, please visit: www.ideonapi.com.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2022, Sun Life had total assets under management of C$1.35 trillion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

In the United States, Sun Life is one of the largest group benefits providers, serving more than 55,000 employers in small, medium and large workplaces across the country. Sun Life’s broad portfolio of insurance products and services in the U.S. includes disability, absence management, life, dental, vision, voluntary and medical stop-loss. Sun Life and its affiliates in asset management businesses in the U.S. employ approximately 8,000 people. Group insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.), except in New York, where policies are issued by Sun Life and Health Insurance Company (U.S.) (Lansing, Mich.). For more information, please visit www.sunlife.com/us.

Namely Selects Ideon to Streamline Digital Employee Benefits Enrollment

Posted on by Ideon

Ideon’s APIs enhance Namely’s best-in-class enrollment experience through real-time connectivity with health insurers and ancillary benefits carriers

Ideon, the API platform powering digital experiences in health insurance and employee benefits, announced today that Namely, the leading HR software for mid-sized businesses, has integrated with Ideon’s API. The integration enables Namely to deliver a faster, more efficient benefits administration experience to its clients, across a broad spectrum of insurers.

In order to provide employees with modern features and a smooth enrollment journey, two-way data exchange with insurance carriers is a necessity for HR and benefits platforms. Building individual point-to-point integrations with hundreds of carriers is cost-prohibitive, resource-intensive, and, ultimately, unsustainable. With Ideon, Namely gains a seamless and scalable means to connect and exchange data with multiple insurers.

“The needs of our customers are at the core of everything we do at Namely,” said Namely CEO Larry Dunivan. “Our solution was designed to easily construct APIs that expand its functionality to ensure our clients have access to high quality data, real-time connectivity, and the latest employee engagement technologies. We’re excited to partner with Ideon, a leading platform provider that shares our vision of advancing the user experience and making worktech easier.”

HR and benefits platforms leverage Ideon’s APIs to enable multi-carrier functionality throughout the user journey, including plan quoting and decision support, group setup and member enrollment, member management, and renewals. Once a platform integrates with Ideon, it gains scalable connectivity to a comprehensive network of insurance carriers, including Kaiser Permanente, Beam, Aetna, Anthem, Blue Shield of California, Cigna, Guardian, Humana, MetLife, and Principal.

Namely serves as a single system of record for mid-market companies, a segment employing more than 50 million workers in the U.S. Namely integrates payroll, benefits, talent management, and other key business functions in a modern, intuitive platform that employees and employers love to use.

“The addition of Namely to the Ideon platform further affirms that industry-leading benefits administration software companies view our fast, seamless connections with insurance carriers as paramount to delivering a better digital enrollment experience,” said Michael W. Levin, Ideon’s co-founder and CEO.

About Ideon

Ideon is the way health insurance carriers and employee benefits providers connect with technology partners to deliver seamless consumer experiences at every stage of the member journey. Ideon is not the websites or apps one uses to choose a plan or find a doctor. It is the infrastructure, the ‘pipes,’ that simplify the complex exchange of quoting, enrollment, and eligibility data between carriers and the technology partners so that they can, in turn, deliver health and employee benefits to hundreds of millions of Americans everyday. Ideon’s APIs transmit billions of data points between InsurTechs and insurance carriers, powering an amazing benefits experience for all. Faster. Better. Awesomely. To learn more, please visit: www.ideonapi.com. 

About Namely

Combining intuitive HR technology and best-in-class service, Namely empowers mid-size companies to build better workplaces. Simplifying the complexities of recruiting, onboarding, time & attendance, performance management, benefits administration, compliance, payroll, and HR analytics, Namely offers an integrated platform that saves companies time and improves their employees’ experiences. Distinguished by a dedicated support model and enhanced service offerings, Namely delivers an all-in-one HR solution for today’s people teams. Learn more at Namely.com and follow us @NamelyHR.

Vericred is Now Ideon, on a Mission to Make the Employee Benefits Industry Work Better

Posted on by Ideon

Leading API platform unveils new name, industry vision for fast, accurate data exchange between carriers and InsurTech platforms

NEW YORK, May 18, 2022  — Vericred, the API platform powering digital experiences in health insurance and employee benefits, today announced that it has changed its name to Ideon to more closely align with the company’s mission and value proposition. The new name embodies Ideon’s role as the catalyst for innovation in an industry that is rapidly transforming to fulfill the expectations of consumers for better and faster benefits experiences.

Accustomed to managing all aspects of their lives on digital apps and platforms, most consumers now compare, enroll, and manage health insurance and ancillary benefits exclusively online. However, seamless member journeys are only possible when data can flow freely between insurers and the HR and benefits platforms used by employers, employees, and brokers. Ideon’s APIs work behind the scenes to enable the seamless flow of data, empowering amazing customer experiences throughout the employee benefits ecosystem.

“It’s never been more clear that the employee benefits industry is at an inflection point, with carriers and InsurTech platforms searching for the easiest and fastest path to digital connectivity,” said Michael W. Levin, co-founder and CEO of Ideon. “As we meet this moment, we want to boldly signal to the industry that we are the catalyst for this innovation and are contributing to our customers’ growth on a large scale. Our new name, Ideon, embodies this spirit.”

Ideon was founded in 2015 by Levin and Dan Langevin, Ideon’s CTO. Today, Ideon’s API platform is used by more than 300 carriers, including MetLife, Principal, Beam, Kaiser and Guardian; and 100 HR and benefits platforms, including Rippling, Gusto, Sequoia, and GoCo.

“It’s an exciting time for Ideon as we enter this next chapter, bringing with us a new name to better reflect our role as the central point in the employee benefits ecosystem,” added Langevin. “We are truly leading the industry as it enters a new era.”

The name change comes on the heels of rapid growth for Ideon as its APIs are increasingly in demand by carriers and InsurTech platforms. In the past 12 months, Ideon doubled employee headcount encompassing its New York City headquarters, Omaha office and remote employees across the U.S. The company also expanded its executive team to double down on its commitment to product innovation and customer growth, recently hiring Chief Growth Officer Meg Collins and Vice President of Product Meghna Misra. Other notable executive hires in the last year include Vice President of Engineering Claude Correll, Senior Vice President of Carrier Sales John Emge, Vice President of Marketing Lindsay Gerspach, and Senior Vice President of Solution Delivery Kevin Thompson. 

The name Ideon is a synthesis of “idea,” and the geological term “eon,” the largest time period. Ideon represents innovation and the evolution of an industry into a new age of data exchange — powered by the company’s platform.

About Ideon

Ideon is the way health insurance carriers and employee benefits providers connect with technology partners to deliver seamless consumer experiences at every stage of the member journey. Ideon is not the websites or apps one uses to choose a plan or find a doctor. It is the infrastructure, the ‘pipes,’ that simplify the complex exchange of quoting, enrollment, and eligibility data between carriers and the technology partners so that they can, in turn, deliver health and employee benefits to hundreds of millions of Americans everyday. Ideon’s APIs transmit billions of data points between InsurTechs and insurance carriers, powering an amazing benefits experience for all. Faster. Better. Awesomely. To learn more, please visit: www.ideonapi.com.

Vericred Releases Annual Map of ICHRA-friendly States

Posted on by Ideon

**NOTE: Ideon is the company formerly known as Vericred. Vericred began operating as Ideon on May 18, 2022.**

2022 ACA health plan data shows that in nearly half of U.S. states, an ICHRA could be a cost effective solution for small employers seeking to give employees more plan options

December 16, 2021 – Vericred, the API platform powering digital quote-to-card experiences in health insurance and benefits, today announced it has released its annual map of states where insurance premiums are most friendly to Individual Coverage Health Reimbursement Arrangements (ICHRAs). Employers who choose to offer an ICHRA provide a monthly, tax-free stipend that employees put toward the premium of a plan they choose from the individual market. 

The Vericred 2022 ICHRA Map shows the counties and states where an employee using an ICHRA would likely find Affordable Care Act (ACA) individual premiums equal to, or less expensive than, ACA small group plan premiums, i.e., “ICHRA-friendly.” For each state, Vericred calculated the difference between the average (across all counties) lowest-cost Bronze plan in the ACA small group and individual markets. 

Key findings from the Vericred 2022 ICHRA Map include:

  • Nearly half of the U.S. is ICHRA-friendly — in 24 states, 2022 individual Bronze plan premiums are equal to or less expensive than small group plan premiums
  • The number of ICHRA-friendly states grew by 26% since 2021, when 19 states were considered ICHRA-friendly. In 2020, only 16 states were ICHRA-friendly 
  • The top five ICHRA-friendly states, are, in order, Ohio, Georgia, Indiana, South Carolina and Mississippi
  • The five least ICHRA-friendly states, which have a market where premiums in the ACA individual market are most expensive compared with the ACA small group market, are, in order, Alabama, Oklahoma, Illinois, Tennessee and West Virginia
  • Some states have flipped – Maryland was ICHRA-friendly last year, and is now not ICHRA-friendly. In 2021, Kansas was among the least ICHRA-friendly states; now it is no longer 

“Historically, individual market premiums have been more expensive than small group premiums. Our data shows this is changing, and fast. ICHRA is now an attractive, cost-effective option for employers seeking to offer employees health insurance for the first time, or for those offering coverage, to control their benefit costs,” said Michael W. Levin, CEO and co-founder of Vericred. “We expect this trend to continue in the coming year, and as a result, we anticipate that more employers will offer ICHRAs.”

Resources

About Vericred
Vericred is the way health insurance carriers and employee benefits providers connect with new technology partners to deliver seamless quote-to-card consumer experiences. We are not the websites or apps you use to choose a plan or find a doctor. We are the infrastructure. We are the ‘pipes’ that simplify the complex exchange of quoting, enrollment and eligibility data between carriers and the technology partners responsible for delivering health and employee benefits to hundreds of millions of Americans everyday. Our APIs transmit billions of data points between InsurTech and insurance carriers, powering digital distribution across the insurance industry. Visit www.vericred.com.

GoCo Selects Vericred to Bring Groundbreaking Automation to Small Group Benefits Enrollment

Posted on by Ideon
**NOTE: Ideon is the company formerly known as Vericred. Vericred began operating as Ideon on May 18, 2022.**
 
Vericred’s enrollment and member management API enables GoCo to reduce new employer group setup time from weeks to days while automating key functions for benefits administrators and HR teams

November 16, 2021 – Vericred, the API platform powering digital quote-to-card experiences in health insurance and benefits, today announced that GoCo, a leading provider of flexible software solutions for HR, benefits, and payroll, has selected Vericred’s enrollment and member management API to dramatically simplify and speed up small group benefits setup, enrollment, and administration. With the API integration, GoCo can now activate new groups for their employer customers substantially faster—within days instead of weeks—without manually forging individual connections between its platform and carriers to facilitate data exchange. 

Simplifying Benefits Administration  

GoCo is an all-in-one HR platform that streamlines time-consuming HR tasks, including benefits administration. With the integration of Vericred’s API, GoCo is, for the first time, automating previously manual employee benefits enrollment tasks for its small business customers. The move will save employers and brokers time and resources as they add or update benefits for employees. 

“Vericred’s enrollment and member management API has helped us unlock an unprecedented level of small group benefits automation previously available only to medium and large employers,” said Nir Leibovich, CEO of GoCo. “As a result, we’ve freed up internal resources, and made the enrollment process faster, easier, and better for employers, employees, and brokers. That is a huge competitive advantage for us during open enrollment periods and beyond.”

Connectivity for Seamless Data Exchange 

Vericred’s API enables GoCo’s platform to seamlessly connect to Vericred’s network of health insurance and employee benefits carriers, making the exchange of quoting, enrollment, and eligibility data between health insurance carriers, brokers, and GoCo instant. As a result, employee data is now automatically transferred to the carrier, removing manual data entry steps for the benefits administrator, and speeding up the path to enrollment for both the employee and employer. Additionally, any errors in the data are corrected before they even reach the carrier. 

“We are thrilled to be GoCo’s partner in blazing a new trail for the small group benefits industry and demonstrating the power that instant carrier connectivity can unleash,” said Michael W. Levin, CEO and co-founder of Vericred. “The GoCo platform is truly maximizing its integration with Vericred’s enrollment and member management API to deliver tangible value to its users.”

Vericred Powers Benefit Sync Dashboard  

GoCo’s Benefit Sync Dashboard puts the power into the hands of the HR and benefits administrators, giving them the tools to craft and automate their preferred workflows. By integrating with Vericred’s API, GoCo’s dashboard now provides users with end-to-end visibility into the entire enrollment transaction, including each stage of the transaction when it’s with the carrier.

About Vericred

Vericred is the way health insurance carriers and employee benefits providers connect with new technology partners to deliver seamless quote-to-card consumer experiences. We are not the websites or apps you use to choose a plan or find a doctor. We are the infrastructure. We are the ‘pipes’ that simplify the complex exchange of quoting, enrollment and eligibility data between carriers and the technology partners responsible for delivering health and employee benefits to hundreds of millions of Americans everyday. Our APIs transmit billions of data points between InsurTech and insurance carriers, powering digital distribution across the insurance industry. Come join the community of insurance geeks creating a seamless digital quote-to-card experience. Visit www.vericred.com.

About GoCo

GoCo.io is modern HR, benefits, and payroll, built with flexibility and ease of use in mind. Founded in 2015 and headquartered in Houston, Texas, GoCo’s mission is to automate manual HR tasks and empower HR to make work a better place.

Unlike other HRIS platforms, GoCo is built to be flexible enough to support existing processes, policies, and providers, so that SMBs don’t have to change the way they work just to adopt a modern HR system. For more information, visit www.goco.io.

Vericred Powers One-Stop Shop for Employee Benefits Quoting with Expanded Group Rating API

Posted on by Ideon

**NOTE: Ideon is the company formerly known as Vericred. Vericred began operating as Ideon on May 18, 2022.**

Adding two new lines of coverage, Vericred offers the only API enabling group medical, vision, dental, life, and disability insurance quoting

November 9, 2021 – Vericred, the API platform powering digital quote-to-card experiences in health insurance and benefits, today announced it has added group life and disability insurance lines of coverage to its industry-leading, multi-carrier Group Rating API (application programming interface). Employee benefits quoting platforms now have one API from which to power a multi-line, data-driven quoting experience for brokers and employers. 

Guardian Life is among the first life and disability insurance carriers to partner with Vericred at launch of the expanded API. The Group Rating API enables carriers to augment the distribution of their products through more digital sales channels, including benefits-focused insurtechs.

Using the enhanced Group Rating API, Vericred’s quoting platform customers can now easily quote and compare all of the most commonly offered benefits without building and maintaining their own carrier connectivity and rating engines. More than 300 insurance carriers and 100 insurtech companies rely on Vericred for digital connectivity and seamless data exchange, including industry leaders Cigna, Guardian, Humana, Principal, Rippling, Gusto, and Ease.

“By adding the life and disability lines to our rating API, we are helping our quoting platform customers be more efficient, so they can spend more time serving their clients and less time on connectivity and data sourcing,” said Michael W. Levin, Vericred’s co-founder and CEO. “Vericred is a one-stop shop for employee benefits connectivity, from quote to card, supporting insurtechs, carriers, and brokers in meeting the needs of the group market today.”

About Vericred
Vericred is the way health insurance carriers and employee benefits providers connect with new technology partners to deliver seamless quote-to-card consumer experiences. We are not the websites or apps you use to choose a plan or find a doctor. We are the infrastructure. We are the ‘pipes’ that simplify the complex exchange of quoting, enrollment and eligibility data between carriers and the technology partners responsible for delivering health and employee benefits to hundreds of millions of Americans everyday. Our APIs transmit billions of data points between InsurTech and insurance carriers, powering digital distribution across the insurance industry. Come join the community of insurance geeks creating a seamless digital quote-to-card experience. Visit www.vericred.com.

Ahead of Open Enrollment, Decisely Selects Vericred to Power Fast, Scalable Digital Enrollment and Member Management

Posted on by Ideon

**NOTE: Ideon is the company formerly known as Vericred. Vericred began operating as Ideon on May 18, 2022.**

A long-time Vericred customer, Decisely completes integration with Vericred’s enrollment and member management API; gains critical connections to health insurance and employee benefits carriers for faster group activation

NEW YORK—November 02, 2021—Vericred, the API platform powering digital quote-to-card experiences in health insurance and benefits, today announced that HR and employee benefits platform Decisely has selected Vericred’s enrollment and member management API for a better, faster and more accurate digital enrollment experience. Decisely made the selection ahead of the busy 2021 fall open enrollment season to help it manage a dramatically increased volume of customer transactions in a short timeframe.

Decisely offers a suite of services for small and medium-sized businesses to manage critical HR functions, including employee benefits administration. By integrating Vericred’s API into its platform, Decisely gains instant connections to Vericred’s network of health insurance and employee benefits carriers for easy data exchange. This enables Decisely to quickly add new employer groups to its platform and complete the necessary transactions, from plan quoting to card delivery, in a matter of weeks. As a result, employers can provide a faster and more seamless benefits enrollment experience to their employees.

“Decisely has been a Vericred group rating API user for the past five years. Vericred has demonstrated the ability to manage large data sets consistently and reliably over time. This track record gives us confidence in their ability to manage enrollment transactions via their API as well,” said Richard Mann, COO of Decisely. “Decisely has experienced high double-digit growth for the past two years. Vericred will allow us to continue to scale and keep costs down.”

Reliable, two-way data exchange with multiple carriers is a technical necessity for HR and benefits platforms. However, building individual point-to-point integrations with a multitude of insurers is resource-intensive and cost-prohibitive. HR and benefits platforms like Decisely that integrate with Vericred’s APIs gain one-to-many carrier connectivity, making it faster to activate benefits for new employer groups than if they had forged individual connections with in-house resources.

“We’re thrilled to expand our relationship with Decisely, and play a key role in their business as they grow and scale,” said Michael W. Levin, CEO and co-founder of Vericred. “By leveraging Vericred’s APIs, Decisely is making it easier and more cost effective to deliver the best possible experience to their own customers during open enrollment and throughout the year.”

About Vericred

Vericred is the way health insurance carriers and employee benefits providers connect with new technology partners to deliver seamless quote-to-card consumer experiences. We are not the websites or apps you use to choose a plan or find a doctor. We are the infrastructure. We are the ‘pipes’ that simplify the complex exchange of quoting, enrollment, and eligibility data between carriers and the technology partners responsible for delivering health and employee benefits to hundreds of millions of Americans everyday. Our APIs transmit billions of data points between InsurTech and insurance carriers, powering digital distribution across the insurance industry. Come join the community of insurance geeks creating a seamless digital quote-to-card experience. Visit www.vericred.com.

About Decisely

Decisely is an integrated technology solution to manage all your HR needs from recruitment to retirement, and everything in between. With over 150 years of combined experience, the leadership team has grown Decisely from a simple brokerage firm to a diverse team of licensed industry experts and technical support. The Decisely family is focused on providing the best benefits, HR, and compliance management service on the market. Learn more at www.decisely.com.

Vericred Announces Expanded Omaha Operations Following $23 Million Series B Funding

Posted on by Ideon

**NOTE: Ideon is the company formerly known as Vericred. Vericred began operating as Ideon on May 18, 2022.**

OMAHA, Neb., July 7, 2021 – New York City-based Vericred, a data platform powering digital experiences in health insurance and employee benefits, today announced plans to expand operations in Omaha.

The InsurTech platform, which recently completed $23 million in Series B funding, said the Omaha location will support the doubling of Vericred’s workforce, by adding an expected 30-40 highly skilled positions in the Metro. Vericred has hired a husband and wife—Matthew Leonard and Val Leonard, both formerly of Blue Cross Blue Shield of Nebraska—to lead its carrier and Omaha-based enrollment teams, respectively.

“As a technology, insurance and financial services hub, Omaha is a natural fit to support Vericred’s growth,” said Michael W. Levin, CEO and co-founder of Vericred. “We considered locations throughout the U.S. for our enrollments operations, and landed on Omaha, because of its insurance-industry talent, its emerging startup scene and its reputation as an incubator of innovation.”

Vericred’s entry into the Omaha market was facilitated by a public-private collaborative of stakeholders, including the Greater Omaha Chamber Economic Development Partnership, a seven-county collective representing 44 percent of Nebraska’s population, and more than 60 percent of the state’s GDP.

“We are pleased to welcome Vericred to Omaha and are roundly impressed with the remarkable progress they’ve made during a pandemic economy,” said David G. Brown, president and CEO, Greater Omaha Chamber. “Vericred scouted office locations, signed a lease and hired Omaha leadership, all remotely.”

Omaha, ranked the best city in Nebraska to get a job in 2021, according to Zippia, has outpaced the nation in finance-and-insurance-industry growth for the past six years, increasing at a rate of 26.2 percent compared to national average of 7.1 percent.

“We’re happy to be in Omaha, and ready to hire across our enrollment operations, engineering, sales, and carrier relations teams,” Levin said.

About Vericred

Vericred is the way health insurance carriers and employee benefits providers connect with new technology partners to deliver seamless quote-to-card consumer experiences. We are not the websites or apps you use to choose a plan or find a doctor. We are the infrastructure. We are the ‘pipes’ that simplify the complex exchange of quoting, enrollment and eligibility data between carriers and the technology partners responsible for delivering health and employee benefits to hundreds of millions of Americans everyday. Our APIs transmit billions of data points between InsurTech and insurance carriers, powering digital distribution across the insurance industry. Come join the community of insurance geeks creating a seamless digital quote-to-card experience.

About the Greater Omaha Chamber Economic Development Partnership

The Greater Omaha Chamber Economic Development Partnership (https://www.omahachamber.org/economic-development/) represents a seven-county area from two states (Nebraska and Iowa) that includes Cass, Dodge, Douglas, Otoe, Pottawattamie, Sarpy and Washington Counties.

About Greater Omaha

Greater Omaha is a No. 1 ranked up-and-coming-tech hotspot, a “top 10 best place to live on a $60,000 salary” and was named America’s No. 2 Best Small City by Resonance Consultancy. The region is a top-five “most remarkable waterfronts in the U.S.” and is home to more than 30 communities and nearly 1 million people.

About the Greater Omaha Chamber

The mission of the Greater Omaha Chamber is to champion a thriving business community and a prosperous region through visionary leadership and collaboration.

Vericred Raises $23M in Oversubscribed Series B Funding Round

Posted on by Ideon

**NOTE: Ideon is the company formerly known as Vericred. Vericred began operating as Ideon on May 18, 2022.**

Aquiline Technology Growth-led funding round and board additions to fuel rapid staff expansion and product development.
Benefits infrastructure leader extends its position as industry standard for health and supplemental insurance connectivity, efficiency. 

NEW YORK, April 12, 2021 — Vericred, the innovative data services platform powering digital quote-to-card experiences in health insurance and benefits, today announced the completion of a Series B round of funding totaling $23 million and the addition of two new members to its board of directors. Aquiline Technology Growth led the oversubscribed funding round, which included participation from new investors Echo Health Ventures, MassMutual Ventures, Guardian Strategic Ventures, and existing investors Riverside Acceleration Capital, FCA Venture Partners and First Health Capital Partners. 

Vericred will use the new capital to expand its teams in New York, NY and Omaha, NE, further build its marketing and sales functions, and exponentially grow the community of participants on its market-leading platform, laying the foundation for a united, digitally connected benefits ecosystem. 

“Today’s announcement showcases the market’s clear endorsement of Vericred’s critical innovations in health insurance and employee benefits. We are proud to have attracted the highest caliber of venture and strategic investors, surpassing the goals we initially set out for this fundraise,” said Michael W. Levin, CEO and Co-founder of Vericred. “We are excited to partner with these leading investors who share our vision for building a simplified way for all participants in the benefits ecosystem to connect, communicate, and exchange data rapidly and accurately.”

Vericred offers a full suite of APIs across medical, life, dental, vision and other lines of coverage that power quoting, enrollment, member management, and renewals on multi-carrier InsurTech and BenTech platforms. Vericred’s solutions simplify the complex process of exchanging data with multiple partners. By effectively removing a critical barrier to industry-wide digital transformation, Vericred enables a true digital quote-to-card experience. 

More than 300 carriers, including industry leaders Cigna, Guardian, Humana, MetLife, Principal, Kaiser and 100+ InsurTech companies including Rippling, Gusto, Ease, and Namely have joined Vericred’s platform, creating a powerful network effect and establishing an important channel to bring new products and innovation to market. 

In connection with this funding round, Vericred welcomes two additions to its board of directors: 

Max Chee leads Aquiline Technology Growth (ATG), which is managed by Aquiline Capital Partners, and seeks to invest in early and growth stage FinTech companies. Max brings over 20 years of experience investing in FinTech and enterprise software. 

Jessica Zeaske, PhD is a Partner at Echo Health Ventures, identifying and investing in emerging and growth-stage health care companies. Previously, she invested with GE Ventures and Lemhi Ventures and has a career-long focus on thesis-driven investing.

“Aquiline’s investment in Vericred is rooted in our shared vision of a fully digitally connected employee benefits ecosystem, where plan quoting, enrollment, and renewal is a seamless experience, much like booking travel or applying for a new credit card online,” said Chee. “We’re pleased to add Vericred as a portfolio company, as we view its infrastructure offerings for benefit administration platforms, along with their carrier partners, as a catalyst for the digital transformation of the industry.”

“At Echo Health Ventures, we seek to drive systemic transformations of the health care system through hands-on, purpose-driven investing. Vericred is an ideal investment aligned with that vision and we look forward to partnering with them as they scale their platform” said Zeaske. “As a Board member, I am excited to help Vericred as they continue to modernize the way health insurance and employee benefits are quoted, sold, enrolled, managed, and used.”

About Vericred

Vericred is the way health insurance carriers and employee benefits providers connect with new technology partners to deliver seamless quote-to-card consumer experiences. We are not the websites or apps you use to choose a plan or find a doctor. We are infrastructure. We are the ‘pipes’ that simplify the complex exchange of quoting, enrollment and eligibility data between carriers and the technology partners responsible for delivering health and employee benefits to hundreds of millions of Americans everyday. Our APIs transmit billions of data points between InsurTech and insurance carriers, powering digital distribution across the insurance industry. Come join the community of insurance geeks creating a seamless digital quote-to-card experience. Visit www.vericred.com. 

About Aquiline Technology Growth

Aquiline Technology Growth (ATG) seeks to invest in early- and growth-stage technology companies that are bringing innovation to the insurance and financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private investment firm based in New York and London investing in businesses globally across the financial services and technology sector. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit: www.aquiline.com.

About Echo Health Ventures

Echo Health Ventures drives systemic health care transformation through hands-on, purpose-driven strategic venture capital and growth equity investing. Echo brings together USAble Corporation, Cambia Health Solutions and Mosaic Health Solutions to accelerate health care innovation on a national scale and support meaningful health care impact. For more information, please visit www.echohealthventures.com.