Picwell

insurtechsoftware/whitelabel/apis-insurtech

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 01/05/2020

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About

Picwell is a Philadelphia-based, healthcare technology company providing leading enterprise solutions to enhance healthcare benefits and improve the consumer experience. Picwells flagship offering is a SaaS-based decision support product that uses artificial intelligence to match individuals to the right health benefits during enrollment by predicting future care considerations, estimating out-of-pocket expenses, and accounting for individual preferences. Other solutions support consumerism and high-deductible health plan adoption, consumer engagement, and risk management.We are on a mission to transform choice in healthcare. More than 200 million people choose benefits each year, but the complexity of the healthcare system makes it challenging to get the right protection based on individual care and cost needs. We imagine a future where healthcare benefits are simple and people can make the right choice with confidence.

MEDICI Analysis

Picwell is an early-stage healthcare startup developing technology to help consumers navigate the complexities of choice in health insurance.

Focus

PRODUCTS & SERVICES

Provide its users with Pickwell Advisory tools, Pinpoint and Picwell Labs.

REVENUE MODEL

Charges an API licensing fee to use the Picwell tool.

MAIN CLIENTS

Retail consumers

PRIMARY PROBLEM SOLVED

The company helps people in picking the ideal health plan for themselves and their families in a simpler and better way.

COMMENT

Picwell claims that the platform reduces consumer's total healthcare spending by close to 20% by enrolling in health insurance plans that better fit their individual needs and minimize their risk of exposure to out of pocket costs.

People

FOUNDERS

Ani Vemprala

Thomas Baker

NUMBER OF EMPLOYEES

11-50

INVESTORS:

BlueCross BlueShield Venture Partners

MassMutual Ventures

Osage University Partners

Sandbox Advantage Fund

KEY EMPLOYEES:

Ani Vemprala(CTO)

Momentum

FUNDED

YES

TOTAL FUNDING

$11.05 M

DATE OF LAST FUNDING

Feb 2018

FUNDING SERIES

SERIES A  · $7.05 M  · ---

SERIES B  · $4 M  · Feb 2018

LISTED

NO

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