Wellth, a behavioural analytics software provider, has closed a minority investment from NFP Ventures.
The New York-based InsurTech helps patients with chronic diseases to change their behaviours and improve their health. Its technology is able monitor high-risk populations and administer incentives for those that comply with prescription regimes.
Its solution is able to mitigate risk for health insurers and risk-bearing provider systems to help lower their costs.
The company’s partners include AXA, New York Life, Florida Hospital DeLand, Sachs Policy Group, Healthbox, and Dreamit, among others.
Through the new line of capital, the company will look to improve the Rx adherence and health outcomes for high-risk consumers that have chronic conditions, the company said.
NFP president and COO Mike Goldman said, “We are very excited to partner with Wellth through our Venture Fund.
“Wellth’s mission to improve the effectiveness of treatment for chronic disease patients matches very well with our goal as advisors to improve our clients’ health care experience in a cost-effective manner. We look forward to working with the team at Wellth to introduce their solution to our clients.”
NFP, which is an insurance broker and consultant, made the investment to further its support with the development of InsurTech, FinTech and HR tech solutions.
Last month, its venture division made an undisclosed investment into Seattle-based Tomorrow Ideas. The company helps consumers plan for their financial futures by building a will, getting them life insurance and building trusts.
Copyright © 2018 FinTech Global
