The benefits space is ripe with consolidation, complementary benefits and new carrier options. With so much choice and constant change, the industry has seen quite a makeover. Throughout all these changes and technical advancements, there still leaves a number of gaps and areas of innovation.
Enter: blankit health.
blankit health: Insurance solutions by advisors, for advisors
As many already know, Orchard Benefits has a sister company, called blankit health. For those of you who don’t, we’ll rewind the tape a bit.
blankit health was a platform developed over a number of years; ignited by all the pain points and barriers accumulated from clients and advisors venting their frustrations. We took all of this feedback and bootstrapped our way towards building a rating engine that allows companies and their employees to design coverage that fits their needs – and now it’s ready to take the next step in terms of its scalability.
blankit is a first-of-its-kind, paperless, fully integrated benefits management system made by advisors – for advisors. It’s an all-in-one solution designed to streamline your quoting process and integrate with major HRIS platforms — like BambooHR, PeopleHR, BreatheHR and more.
blankit generates quotes, automates reminders, allows employers to design coverage that meets their needs, and it does all this from one neural platform. This means easier, more efficient management of employee benefits. It’s been an incredible journey so far through our rounds of development, and it’s led us to outstanding corners of Toronto’s burgeoning tech scene.
Our Partnership with Fintech Cadence – plus some awards!
blankit health was launched before entering Ryerson’s DMZ program in March 2020, but the time there helped escalate our development. After that, blankit made the transition and joined Fintech Cadence in February, 2021.
Founded in 2017, Fintech Cadence runs with the goal of stimulating collaboration and has brought talent from startups, universities, researchers and more to work and innovate together. Today, they are Canada’s fintech hub, dedicated to serving early-stage startups and building fintech products from the grassroots level.
We were part of their incubation program for fintech startups, called Ascension. With a total of 15 companies in their program, we were honoured to take part in this incredible opportunity and what it means for the future of insurance and new innovation.
As a first-time founder of a SaaS platform, the entire community at Fintech Cadence was instrumental in connecting some of the finer points that get overlooked when developing and scaling a new idea.
Throughout all of this, blankit Health took home some hardware by winning two awards. We finished in third place, receiving one “in-kind” gift of consulting with District 3 – an accelerator out of Concordia University, as well as one of three cash prizes. We are truly humbled by this recognition of our peers and thank Fintech Cadence for the support and industry experts we worked with.
Looking to the next stage of development
A lot of work has been redone to the platform and redoing the website. We have a strong rollout plan throughout the summer. Looking ahead, we have the Startup Boost Demo Day in June in addition to 10 advisors in Ontario being onboarded this month or early next month, and an organic waitlist of over 60 advisors across Canada waiting to join. We can set up an advisor in 15 minutes or less with our white-labelled solution.
We have a number of insurance companies already on board, with momentum to work to bring others in very shortly.
We’re very excited about the evolution of blankit health!
And as we look to the next iteration of our development, we are looking to connect with forward-thinking benefits advisors and benefits providers (insurance companies and TPA’s) who would like to be part of the platform during our next phase. We will soon be reaching out to a short list of existing clients to see if they want to be part of the beta program.