Nayya is an insurance benefits management software startup that uses artificial intelligence to make health care plans easier to manage. The company leverages billions of health insurance data sets to provide personalized recommendations for in-network care. With the new funding, Nayya plans to expand its New York team and deepen its partnerships with leading carriers and employers.
Nayya is an insurance benefits management software startup
The startup offers a SaaS platform that guides employees through the process of enrolling in, using, and retaining insurance benefits. The platform includes AI-powered support for navigating the enrollment process, as well as care navigation and personalized recommendations. The startup also offers solutions for carriers, brokers, and strategic partners. It was founded in New York and is based there. Nayya markets its products through partnerships with leading national employers, tech partners, and insurance carriers.
Nayya’s AI-powered platform leverages data from more than 200 million claims, six million networks, and three billion external consumer data points to provide personalized benefits recommendations. Employees often struggle to make informed decisions about which health benefits are best for them, but Nayya’s platform makes the decision-making process as simple as possible for employees. In addition, it enables employers to make better financial decisions.
Nayya is a New York-based startup that is using AI and data science to solve challenges with health plans. The company’s solution utilizes billions of consumer data, millions of rows of claims data, and thousands of data integrations to create a personalized experience for employees. The startup has plans to use the new funds to accelerate its development and expand its connected data footprint.
The company’s growth has helped it attract a large investor base. Its software reaches more than 300 million employees of its customers. These include ADP, LifeWorks, and Guardian. In addition to Nayya, the founders also founded Adonis, a medical billing platform that uses AI tools to automate payment collection processes.
Nayya is expanding beyond healthcare benefits to offer advice and administrative assistance for other benefits. It also offers financial planning services for student loans and pensions. Additionally, Nayya offers mental health services. It’s mission is to make life easier for consumers. The startup is a great example of a technology that improves the way people experience benefits.
It uses artificial intelligence to help guide employees in selecting a health plan
An AI-powered tool can help employers and employees choose the best health plan for their needs. This tool uses machine learning to predict health care costs and trends by interpreting millions of health insurance claims. However, it has its limits. To make AI useful, it must be applied by experts with long-term experience in the problem area. The biggest challenge in applying AI is defining what to predict. If the models are not well-defined, then the predictions can’t be used to make meaningful interventions f95zoneusa.
For example, the health insurance needs of an urban commuter are much different than those of a suburban commuter. A Nayya model would consider these differences and offer health plans that would best meet the needs of the individual. This way, employers could protect their employees’ budgets and peace of mind.
While the United States has the f95zone highest number of health-related AI startups, growth is booming in Asia. Some of the largest domestic conglomerates are leveraging AI to develop consumer-focused health-plan solutions. The leading online health-management platform claims to have 300 million users.
However, deploying AI solutions requires clear regulatory policies and consistency in approach. While Europe has a clear framework for medical devices and medicines, regulations for AI solutions are less defined. In Europe, the responsibility for determining which AI solutions are reimbursed typically rests with local and national payor organizations. These decisions typically cover what will be reimbursed and at what price. Developing clear criteria for potential reimbursement of AI applications and finding creative ways to fund them will be critical to their adoption at scale.
Artificial intelligence has the potential to revolutionize healthcare. It can improve productivity and efficiency, improve staff morale and retention, and even help people receive life-saving treatments faster. And a recent study found that nearly half of all healthcare professionals in Europe have never used artificial intelligence in their job.
It raised $11 million in a series A round led by Felicis Ventures
Nayya, a startup that provides an AI-driven platform for insurance benefits management, has raised $11 million in a series A funding round led by Felicis Ventures. The company plans to use the funds to accelerate its product development and attract new customers. Employees are often confused when it comes to choosing their health benefits. A recent study found that 41% of employees find open enrollment processes extremely confusing. Further, 20% of employees regret making the wrong health benefit choice f95forum.
Another AI startup, Vara, has raised $10 million in a series A round led by Andreessen Horowitz. This round was led by the venture capital firm and includes investors such as Jared Leto, Aaron Levie, Jeremy Stoppelman, and Max Levchin. The company will use the funds to expand its product and conduct a large-scale clinical study.
Earlier this year, the company raised a seed round of $2.7 million. The company is now positioned as a “NCAA” for esports, facilitating sponsorship and endorsement deals, transparent data, and a simplified communications flow. Nayya also leverages machine learning and data transparency to make employee benefits easier to manage. In addition to this funding round, Nayya has raised an additional $11 million in a series A round led by Felicis Ventures.
Felicis Ventures is a venture capital firm with approximately $196 million in assets. Its investments are focused on advancing frontier technologies and solving critical problems in critical markets. The firm has offices in San Francisco and Austin, Texas.
The company has already begun its deployment of its robotic delivery services in Milton Keynes, U.K. The company has partnered with grocery companies Co-op and Tesco to use its platforms. The robotic delivery systems, which are 22 inches tall, use a GPS inertial measurement unit, ten cameras, radar, and ultrasonic sensors to navigate the city and meet delivery targets. The company claims to reduce premiums by up to 15%.
It is only available in English
Nayya is an artificial intelligence (AI) platform that businesses can use to automate their customer support operations. It uses AI and natural language processing to understand customer questions and queries in real time. Nayya has raised $11 million in seed funding from investors such as Felicis Ventures and Wiggers VentureBeat. The company will use the funding to scale its operations and create new applications.