Shannon Goggin

Problem Tech Solves

For too long, the insurance industry has been stuck on dated, custom-coded files, paper processes, and other legacy tech, where frequent errors result in gaps in coverage, unexpected medical bills, and ultimately a loss of trust in health insurance. Noyo is building unprecedented connectivity between all the systems that touch insurance, so the millions of people who rely on coverage always feel protected. To do that, Noyo has built the industry’s first APIs designed specifically for health insurance benefits administration. Noyo’s complete, integrated solution connects carriers, benefits platforms, and insurance innovators through a new industry standard for fast, accurate, and secure real-time data exchange. The end-to-end infrastructure solution includes flexible, powerful APIs for immediate, secure, and accurate data exchange, with round-trip confirmation protocols and unparalleled auditing capabilities that identify and prevent errors before they occur. By creating the building blocks for modern, dynamic health insurance experiences and new tooling to improve accuracy and transparency when managing insurance data, Noyo is unlocking new possibilities for insurance. Consider how consumers use the front-end app Venmo to access their banks and make payments – beneath the hood, there’s an unseen layer that connects Venmo to these banks. Noyo is that layer for insurance: by making it possible to embed critical, sensitive data into applications securely and at scale, Noyo is building a future where insurance is easy to understand and even easier to use, so everyone can be empowered to make the best health decision possible and access quality care.

Tech Brief

Data exchange in insurance still relies on many manual and legacy standards, including direct data entry, portals with varying levels of sophistication, paper, pdfs, and Electronic Data Interchange (EDI). While EDI connections and other custom file feeds offer a standardized way of transferring data, they don’t enable modern, efficient health insurance experiences. They’re slow, expensive to build and maintain, and require time-consuming, custom integrations. Errors invalidate an entire file, but it’s difficult to tell when an error has occurred or why. Data is locked away, so it can’t be easily accessed for analysis, reporting, verification, and more. Worst of all, these error-prone and less secure systems often lead to poor patient experiences and outcomes. In comparison, Noyo’s technology is flexible, powerful, and seamless. With fast and accurate data exchange via API, Noyo can launch fast, secure connections with any partner in weeks, provide a member ID within minutes of enrollment, have full transparency into the status of every transaction, and programmatically audit and resolve discrepancies. By transforming connectivity across the industry, Noyo overcomes the limitations of legacy technology and unlocks new possibilities for health insurance. Moreover, Noyo is the only solution on the market that truly covers every key benefits administration use case, from quoting through ongoing enrollment and renewal. Noyo’s technology is a catalyst for growth, enabling partners to build dynamic products and solutions atop Noyo’s innovation technology.

Tech Differentiators

Noyo works with benefits technology platforms, enabling them to build next-generation benefits experiences on top of best-in-class APIs. Benefits technology platforms can use Noyo to connect with insurance carriers, streamline and automate benefits administration, and build modern, friendly health benefits experiences for their consumers. Furthermore, Noyo works alongside bentech platforms to modernize their back-end technology with APIs, simplifying operations, lowering costs, and improving efficiency. Noyo also works with health insurance carriers to help them stay agile and modern in a changing insurance landscape. With Noyo, insurance carriers can activate an API-driven transformation strategy to meet the demands of the digital age or launch new products with cutting-edge API technologies.



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