Noyo provides a unified API platform that enables real-time enrollment and management of health insurance data, streamlining connections between HR, benefits, and payroll systems and insurance carriers. By automating data transmission and reconciliation, Noyo reduces the time and complexity associated with traditional enrollment processes, allowing groups to connect to carriers in days instead of weeks.
Funding
$61.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+1Founders
Product
Problem
Traditional health insurance enrollment processes involve manual data entry, error-prone EDI files, and disparate carrier systems, leading to delays, inaccuracies, and administrative overhead for HR, benefits, and payroll platforms. Connecting to multiple carriers requires custom integrations and complex data mapping, making it difficult to scale and offer a seamless user experience.
Solution
Noyo provides a unified API platform that streamlines health insurance enrollment and eligibility management by automating data exchange between HR, benefits, and payroll systems and insurance carriers. The platform offers a single point of integration to access a network of carriers, eliminating the need for custom integrations and manual data reconciliation. Noyo's API enables real-time data transmission, validation, and confirmation, reducing enrollment times from weeks to days and improving data accuracy. The platform also provides a command center with full visibility and control over group, plan, and member data, enabling proactive issue resolution and improved operational efficiency.
Target Audience
Noyo's primary customers are HR, benefits, and payroll platforms that need to streamline health insurance enrollment and eligibility management for their clients.
Features
- Unified API for seamless integration with multiple insurance carriers
- Real-time data transmission and validation for accurate enrollment and eligibility management
- Automated data reconciliation to eliminate manual errors and discrepancies
- Support for all enrollment change scenarios, including new hires, qualifying life events, and terminations
- Noyo Command Center for full visibility and control of enrollment data
- Carrier Network for easy access to a wide range of insurance providers
- Integration with existing HR, benefits, and payroll systems
- Analytics and reporting tools for tracking enrollment performance and identifying trends