Limelight Health raises $3M for mobile insurance quoting offering

By Aditi Pai
09:49 am

QuotePadSan Francisco-based Limelight Health, which has developed a white-labeled health insurance quoting app, announced that it raised $3 million from MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company (MassMutual), and AXA Strategic Ventures. Accelerator Launchpad Digital Health, which was the lead investor in Limelight's seed round, also contributed. This brings the company's funding to $3.7 million to date.

Limelight Health's app, called QuotePad, allows insurance agents to upload census data, personalize the app with their logo and colors, adjust employer contribution strategies in saved quotes to help clients make decisions, calculate subsidies, and view or email the member a list of all contracted health plan networks. The app launched in January.

“With $375 billion wasted each year on billing and health insurance paperwork, there is tremendous opportunity for the right technology solution to reduce unnecessary administrative tasks and inefficiencies in workflow,” Limelight Health CEO and cofounder Jason T. Andrew said in a statement.

QuotePad also integrates with other technologies that an insurance agent might have including payroll, CRM, and enrollment tools. The offering costs $99 per month or $79 per month for California Association of Health Underwriters (CAHU) members, $267 for three months, or $1,499 per year. The app is only available in California and for iOS devices, but the company plans to release an Android version soon.

A few weeks ago, MassMutual, one of Limelight's investor, also invested in another digital health tool for payors, called Picwell. Philadelphia-based Picwell collects data from consumers including age, gender, zip code, and prescription medications to make personalized assessments of how expensive plans are for individuals and how valuable each plans’ benefits are for that person. The company then generates a personalized Picwell Score for each plan.

One of the other Limelight investors, Launchpad Digital Health, also added four startups to its accelerator including air quality tracker BreezoMeter, drug dosing tool developer InsightRxLifeDojo, which develops corporate wellness programs, and Mevoked, which is developing a digital therapeutics offering for mental health.

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