AdminaHealth - Top Insurtech Provider for Billing & Payment Solutions
Founded: 2016
Founder: Robert Bull
Headquarters: 1700 East Putnam Ave, Suite 201 Greenwich, CT 06870 USA
Phone: 203-973-7520
Number of employees: 11-50
Website: www.adminahealth.com
Overview
AdminaHealth, a leading provider of cloud-based billing and payment solutions, has emerged as a prominent player in the insurtech industry. The company, headquartered in Greenwich, Connecticut, was founded in 2016 by Robert Bull. His wealth of experience in technology, insurance, and finance to create a platform that streamlines billing and payment processes for insurance providers, brokers, and employers.
Offerings
AdminaHealth has developed a comprehensive suite of software solutions that address various challenges faced by organizations in managing their insurance billing and payment processes. Their flagship product, AdminaHealth Billing Suite™, automates and simplifies billing, reconciliation, and payment management for employee benefits, voluntary benefits, and property and casualty insurance. This powerful platform enables insurance providers and brokers to reduce administrative costs, increase operational efficiency, and improve customer satisfaction.
The Billing Suite consists of several core components, each designed to address specific aspects of the billing and payment process. These include:
Automated Billing: A feature that generates accurate and timely invoices, statements, and reports, tailored to each client’s specific needs.
Payment Processing: Allows for seamless processing of payments, including support for various payment methods such as ACH, credit cards, and checks.
Reconciliation: Automatically reconciles payments with invoices and maintains an up-to-date record of all transactions.
Reporting and Analytics: Provides real-time data and insights, enabling users to make informed decisions based on accurate and actionable information.
Compliance and Security: Ensures all transactions and data are protected and compliant with industry standards and regulations.
In addition to the Billing Suite™, AdminaHealth also offers a range of complementary services designed to enhance the overall customer experience. These include a dedicated customer support team, implementation services, and ongoing training and education programs.
Funding Rounds
Since its inception, AdminaHealth has secured funding from several investors in multiple rounds, allowing it to grow and expand its offerings. The most notable funding rounds include:
Seed Round (2016): The company raised an undisclosed amount in its seed round, which helped it establish a strong foundation and develop its initial product offerings.
Series A Round (2018): AdminaHealth secured $3 million in its Series A funding round, led by notable investors such as ClearSky, Riverside Acceleration Capital, and Connecticut Innovations. This round allowed the company to scale its operations and refine its platform.
Acquisitions
AdminaHealth’s growth strategy includes expanding its portfolio through strategic acquisitions. In 2020, the company acquired BenefitHR, a cloud-based human resources management system (HRMS) provider. The acquisition enabled AdminaHealth to integrate BenefitHR’s HRMS platform into its Billing Suite™, providing a more comprehensive solution for its clients. This move further solidified the company’s position as a one-stop-shop for insurance billing and payment solutions.
Notable Partnerships
AdminaHealth has formed strategic partnerships with key players in the insurance and technology industries, enhancing its offerings and market reach. Some of these partnerships include:
Integration with Ease: AdminaHealth integrated its platform with Ease, a leading provider of benefits administration software. This integration allows brokers and employers using Ease to leverage the capabilities of AdminaHealth’s Billing Suite™, streamlining their billing and payment processes.
Collaboration with Zywave: AdminaHealth partnered with Zywave, a top insurtech provider, to incorporate its billing and payment solutions into Zywave’s product suite. This collaboration enables Zywave customers to access AdminaHealth’s platform, adding value to their existing services.
Market Recognition
AdminaHealth’s innovative solutions have been recognized by several industry awards and accolades. In 2021, the company was named a Top 10 Insurtech Provider by Insurance CIO Outlook, a testament to the company’s impact on the insurance industry. This recognition highlights AdminaHealth’s commitment to transforming billing and payment processes through advanced technology and automation.
Additionally, AdminaHealth was selected as a finalist in the 2021 InsurTech North Wolf Pack Startup Pitch Competition, a prestigious event that showcases the most promising insurtech startups in North America. This further reinforces the company’s status as an innovative leader in the insurtech space.
AdminaHealth’s innovative approach to insurance billing and payment solutions has positioned the company as a leading insurtech provider. With a strong product offering, strategic acquisitions, and notable partnerships, AdminaHealth is well-equipped to navigate the challenges and opportunities that lie ahead in the insurtech landscape.
As the company continues to expand its market reach and refine its platform, AdminaHealth is poised for continued growth and success. Through ongoing investment in research and development, the company will undoubtedly remain at the forefront of the industry, delivering cutting-edge solutions that transform the way insurance providers, brokers, and employers manage billing and payment processes.
Disclaimer: Please note that the names and positions of employees mentioned may be subject to change, as individuals may move to different roles or organizations. While we make every effort to keep our information accurate and up-to-date, we cannot guarantee that all employee details are current or complete. We encourage you to verify the identity and positions of any individual mentioned and check their Linkedin Profile before taking any action based on their role.
Employees
Robert Alan Bull – CEO
Laura Bull – COO & Chief Information Security Officer
Younes Ismael Aguirre – Chief Financial Officer
Dennis Reaves – Chief Technology Officer
Christian Morris – Director of Sales and Marketing
Jenny Collinson – Director of Marketing and Communications
Timur Sakayev – Chief Customer Success Officer