The size of the investment was not disclosed.
MyHealthMath offers its personalised live engagement services to give employers, carriers and consultants unparalleled healthcare benefits decision support.
Based in the US, the company offers personalised reports based on each employee’s specific needs and allows the employees access to live analysts for support. It has three core products, Decision Doc, Benefits Optimisation System and Health Benefit Equity.
The Decision Doc takes employees through a series of questions about their health needs and then gives them a personalised health plan, as well as guidance for dental and vision.
Speaking on the deal, MyHealthMath founder and CEO Bob Watterson said, “This investment illustrates how vital benefit decision support is to the health insurance ecosystem: it helps employees, employers, and partners get more from their health insurance dollar.
“By adding MyHealthMath to their suite of solutions, AccuRisk will deliver greater value to their clients and partners, while leading the way in cost transparency and personalised benefit support.”
AccuRisk develops health solutions that offer traditional insurance products alongside risk mitigation solutions. It claims to be one of the largest independent managing general underwriters in the US.
AccuRisk Solutions CRO Dave Przesiek added, “We’re delighted to invest in the technology that MyHealthMath has developed. It will augment the technology through our full spectrum of solutions and products.
“We are especially excited about the impact it will have for our D3 product. D3 is a turnkey self-funded medical plan targeting the small and mid-market employer. D3 is built on a data driven decision platform.”
AccuRisk recently teamed up with insurance carrier Nationwide and InsurTech Brella. This deal will support the launch of Nationwide Provide, a health insurance plan that will pay out upon diagnoses.
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