Benefytt Technologies Inc.
What is InsurTech? InsurTech is the combination of insurance and technology solutions for enrollment, insurance claims processing, underwriting, policy administration, data insights, fraud detection and more. InsurTech is disrupting the insurance industry by providing cost saving solutions and better customer experience for insurance companies. Let’s dive deeper.
Healthcare Technology and Coronavirus [Survey] - Benefytt Technologies
Certain U.S. cities are allowing residents to head back to work, dine at their favorite restaurants, and somewhat return to a sense of normalcy. But we aren’t out of the (coronavirus) woods yet. In fact, more than 1,000 Americans expressed how the pandemic is still a big concern in a recent survey by healthinsurance.com, Benefytt’s direct-to-consumer e-commerce platform for Medicare and private health insurance products.
Big Data in the Insurance Industry
The digital technology revolution has transformed the professional world in significant ways. And it’s no surprise that big data technology has gained popularity, especially with the amount of insightful data that’s available to organizations. In this article, we’ll cover: Definition: What is big data anyway?
Extensive COVID-19 Survey Reveals Interesting Findings
Healthinsurance.com, Benefytt’s direct-to-consumer private insurance and Medicare website, is getting a solid pulse on the reactions and concerns of Americans throughout the coronavirus pandemic. The brand recently launched a series of COVID-19 surveys, which gathered insights from 1,000+ respondents of all ages. The most recent survey was the most comprehensive one yet, covering COVID-19 topics such as testing and vaccines, social distancing and mental health, economic impacts, and more.
Joins Coronavirus Tampa Feed the Frontlines Movement
Insurtech company, Benefytt Technologies, Inc., has teamed up with Feeding Tampa Bay to feed 4,000 Tampa healthcare workers on the frontlines during the Coronavirus pandemic. Benefytt’s community involvement stems from a grassroots #FeedTheER effort in the Tampa Bay area, where Benefytt is headquartered. Benefytt saw an opportunity to help expand the effort’s reach to local healthcare heroes, so the company joined the movement.
Artificial Intelligence in Insurance
The insurance industry is seeing a welcome disruption via artificial intelligence (AI), but only a few companies might benefit from this breakthrough. Most organizations lack cognitive technologies to process insight, and this makes the data almost useless. But insurtech companies can connect the potential of the AI data streams available. In this complete introduction to artificial intelligence, you’ll be learning: Characteristics of artificial intelligence (AI)How AI worksRecent AI trendsAI applications in the insurance and insurtech industryFuture of AI in the insurance industry
Coronavirus Updates Feed
Novel Coronavirus has undoubtedly changed the world. And the economic impacts from the virus are highly visible on a global scale: The stock market has declined, small businesses have shut down, millions of people have lost their jobs, and unfortunately, many of those who were diagnosed with Coronavirus disease have lost their battle. To track the developments of this global pandemic, our direct-to-consumer website, Healthinsurance.com launched a news feed to consolidate and recap global news pieces and highlights about Coronavirus. The topics covered range from day to day, focusing on both positive and negative impacts. Topics have included: Coronavirus statistics: Updates on number of reported and confirmed cases, COVID-19 deaths, mortality rates, and patient recovery data.
Benefytt streamlines health insurance customer enrollment
Trust and engagement through e-signatures Security is a top priority for Benefytt, and Adobe Sign’s security and authentication capabilities help the company protect the privacy of its customers. “Security and technology are the core focus for the whole company. We handle a lot of personal data and private health records – and our customers rely on us to help protect that data,” says Conley. “The only way we can continue to earn their trust is to show we do everything we can to safeguard their data.
Benefytt keeps an aging population covered with Adobe Sign
Benefytt helps people find the right Medicare and life insurance plans for them and makes it easy to enroll. Its customers are among the fastest-growing demographic in the U.S. – and a moving target in terms of technology. “People who are 65 today didn’t grow up with the internet, so their digital skills vary. In 10 years, however, 65-year-olds will have spent most of their adult lives around digital technology,” says Travis Conley, CTO at Benefytt. “We have to keep things simple for people who aren’t comfortable with technology today, while getting ready to serve tech-savvy customers tomorrow.”
Technologies Acquisition by Madison Dearborn Partners
Tender Offer of $31.00 per Share to be Commenced in Coming Days to Complete All-Cash Transaction TAMPA, Fla., July 13, 2020 (GLOBE NEWSWIRE) — Benefytt Technologies, Inc. (NASDAQ: BFYT) (“Benefytt”) (“the Company”), a health insurance technology company and leading distributor of Medicare-related health insurance plans, today announced that it has entered into a definitive agreement to be acquired by funds affiliated with Madison Dearborn Partners, LLC (the “MDP Funds”), a leading private equity firm based in Chicago that has deep experience in the insurance technology and health care industries. The all-cash transaction is structured as a tender offer of $31.00 per share that will commence in the coming days, followed immediately by a merger. The announced transaction with the MDP Funds is the culmination of a process led by Benefytt’s Board of Directors since July 26, 2019, to explore, review and evaluate a range of potential strategic alternatives for the Company.
HIIQ Changes Its Name to Benefytt Technologies Inc.
Company acquires major direct-to-consumer website as part of growth strategy On March 6, 2020, Health Insurance Innovations, Inc., announced that its corporate name changed to Benefytt Technologies, Inc. The name change signifies the company’s go-forward strategy to be a premier health insurance technology company that offers self-guided plan comparison tools and technology solutions surrounding a range of Medicare, private health insurance, and life insurance products to meet the evolving needs of its customers. Healthinsurance.com: A convenient resource for consumers
Stock Price to Surpass $60: Citron Research Predicts
Citron Research, one of the longest-running stock commentary websites, recently noted that the Coronavirus pandemic is the moment that will make telemedicine mainstream. And Benefytt Technologies (BFYT) is at “the forefront of this megatrend,” according to Citron. As a result, Citron predicts that Benefytt’s stock will surpass $60 by the end of this year. Citron’s full report came on the heels of a recent White House briefing to the country in which the need for more telemedicine offerings for seniors emerged as a key theme.
Telemedicine During Coronavirus Pandemic [HealthInsurance.com Survey]
The cost of healthcare still remains a factor for many Americans during the Coronavirus pandemic, according to a recent survey by healthinsurance.com, our direct-to-consumer website. The survey found that 39% of respondents would think twice about seeking Coronavirus medical care due to cost. But more Americans may turn to virtual healthcare options like telemedicine to avoid the waiting room and potentially cut their healthcare expenses.
COVID-19 Economic Impact [HealthInsurance.com Survey]
The Coronavirus pandemic is impacting our economy and unemployment rate in unprecedented ways, with 17 million unemployment claims filed over the past two weeks alone. That’s why our direct-to-consumer website, healthinsurance.com, recently launched a survey to gauge the concerns and feelings of more than 1,000 respondents about COVID-19 and its economic impact. Healthinsurance.com focused on topics like medical costs, unemployment, health insurance options and the use of telemedicine during the COVID-19 pandemic.
