Navigating the world of health insurance can be daunting, particularly for individuals in the gig economy, essential workers, and those transitioning from Medicaid coverage. The array of options and the fear of making a mistake often lead many to avoid obtaining health insurance altogether. However, Kyndly Benefits seeks to address this challenge.
While personally experiencing and observing other people struggling with health insurance enrollment, Erik Anderson and Waleed Bahouth became determined to create a platform that would provide clear guidance and support.
With a mission to make health insurance accessible to everyone, Keyhorse-backed Kyndly helps ensure individuals find the right plan for their needs. Their platform, Kynd Choice, offers interactive health plan enrollment and decision support tools. Whether it's helping individuals understand their options or offering businesses an alternative to traditional group health insurance, Kyndly is committed to simplifying the process and making health benefits more accessible to all.
We asked Kyndly co-founders Erik Anderson and Waleed Bahouth a few questions about their founder journey, inspirations, and predictions for the future of the healthcare insurance industry.
How did you become interested in health insurance?
Erik: Like many others who have built a career in health insurance, I did not anticipate or expect this path. But the more time I’ve spent in our industry, the deeper sense of appreciation I’ve developed for the role we play in helping individuals live their healthiest lives while also supporting them through their deepest moments of need. And while health insurance can still have its warts, I’ve always held onto the idea that we are one of the most aligned partners in the healthcare ecosystem with an individual’s overall health—our best interest is in helping you be the healthiest version of yourself.
Waleed: I fell into it. I joined Humana as an analyst without really knowing anything about health insurance. I stayed at the company because it was a fantastic learning environment, and I grew tremendously as a person and a leader. After 15 years there, I learned a lot about health insurance—whether I liked it or not! Behind the concept of health insurance is a noble purpose: To use the resources of a community to help individuals when they need it. We do our best at Kyndly to stay true to our mission to make health care accessible to everyone.
What challenges did you identify that drove you to co-found a company to address them?
Waleed: Health insurance sucks. Let’s start there. It is needlessly complex, using coded language and jargon to confuse people. The industry talks about people as consumers, but the last thing people want to consume is health care. It’s not a surprise that health insurance generally has the lowest Net Promoter Score of any industry, lower than airlines. Our focus at Kyndly is to remove the barriers to accessing care. We use plain language instead of jargon, and we lead with empathy so we can deeply understand their needs and how our technology solutions can address them.
Tell us about your team: Who’s on it, and how did you meet?
Waleed: We have an amazing team. The common threads among us are that everyone is: 1) crazy smart, 2) passionate about solving problems, and 3) a little goofy—not taking themselves too seriously. Erik and I met at Humana and had a multi-year conversation about starting our company before making the leap together. The rest of our team—Susan, Erich, and Lauren—are all people that we each knew for years before joining the Kyndly team, so we know they would be a great fit for the culture we are trying to build.
The industry talks about people as consumers, but the last thing people want to consume is health care.
Where do you see the healthcare insurance industry headed in the future?
Erik: Much like with other consumer-oriented solutions, we anticipate a deeper focus on personalization. The days of a one-size-fits-all approach for insurance, particularly with employer-offered health plans, are waning. This is a direct benefit to the consumer through having greater choice but also employers who for decades have felt the burden of picking “winners and losers” when deciding which insurer and which plan design to offer. Health insurance can be one of the more expensive line items for individuals and companies; when you have complexity and cost, it only seems natural you’d also have a choice.
What does success look like to Kyndly in the short term and long term?
Erik: In the short-term, we envision Kyndly being a regional solution of choice in the insurance industry for employers and their employees, as well as for health insurance agents and community partners. Our focus at present is Kentucky and Indiana, with capabilities to serve Ohio and Tennessee as well. But long-term our goal is to extend Kyndly nationally and be a key change agent in the transition to a more personalized and consumer-friendly health insurance future.
Find out more about Kyndly at kyndlybenefits.com. Are you a startup based in or looking to relocate to Kentucky? Keyhorse’s current quarterly investment cycle is open! Apply now.
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