Leading API platform unveils new name, industry vision for fast, accurate data exchange between carriers and InsurTech platforms
NEW YORK, May 18, 2022--(BUSINESS WIRE)--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.
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.
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