This CEO Is Disrupting The Insurance Industry With Tech & AI.

“Never confuse effort for success”

Guest

Tim Johnson (Founder & CEO)

Company

Health In Tech, Inc. (Nasdaq: HIT)

Website

https://healthintech.com/

Tim’s Bio

Tim Johnson is the founder and CEO of Health In Tech. He has spent his entire career in the insurance industry, beginning on the property and casualty side at a small regional insurer before moving to larger firms including Liberty Mutual and AIG. He later transitioned to the brokerage side, working at leading brokerage firms where he built captives and developed alternative risk solutions.

Mr. Johnson has over 30 years of experience as an entrepreneur and has founded multiple successful companies in the medical insurance sector. He has extensive knowledge in the stop-loss insurance and self-funded benefits space, and between 2005 and 2007, he helped pioneer some of the country’s first Stop Loss captive programs for healthcare, applying proven techniques from the P&C world that had not previously been widely used in employee benefits. He also launched his own insurance carrier and built a vertically integrated platform offering underwriting, claims, repricing, and medical management services.

Seeing how far behind healthcare was in technology, Tim began building Health In Tech with a system designed to help brokers quote and bind health plans more quickly and efficiently. That early tool ultimately evolved into the AI-powered platform Health In Tech is known for today.

Company Bio:

Health in Tech (“HIT”) is an insurance technology platform company, which offers a marketplace that aims to improve processes in the healthcare industry through vertical integration, process simplification, and automation. By removing friction and complexities, we streamline the underwriting, sales and service process for insurance companies, licensed brokers, and TPAs.

Marketplace: We are a health insurance marketplace where insurance companies can list various stop-loss policy options for self-funded benefits plans. Licensed brokers registered on our platform can log in, upload certain required information, select policy plans, obtain a bindable quote and sell them to small businesses. Our technology enables us to medically underwrite insurance policies and usually produce bindable quotes within approximately two minutes, allowing us to deliver an integrated and seamless sales cycle.

Customizable Solutions: Beyond policy underwriting and sales, our marketplace offers customization of health benefits plans, vendors, claims, and network services. Brokers can select customized plans that suit their customers.

Accessibility and Savings: We make self-funded benefits plans and stop loss insurance accessible online for small businesses. We aim to deliver meaningful cost savings for low-risk, small employers with comparatively healthy employees through a digital medical underwriting process. We seek to deliver time savings for employers, brokers, TPAs, and carriers, by leveraging both external and internally developed technology.

HIT was founded on the belief that self-funded benefits plans and stop loss insurance should be simple and streamlined with significant transparency. With over 30 years of industry experience of our management team, we understand the complexities of the healthcare insurance market, and we know how to integrate the multifaceted aspects of the industry. Our solutions and technology platforms do exactly this through vertical integration, process simplification, automation, and digitalization.