US-based AI-native brokerage platform Gyde has bought compatriot Benavest, a health insurance agency focused on consumer plans such as individual Affordable Care Act (ACA), Medicare and Individual Coverage Health Reimbursement Arrangements.
The deal broadens Gyde’s broker base and extends its reach across the country.
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It also places Benavest within Gyde’s distribution set-up for ACA and Medicare brokers and agencies using AI-based systems.
Benavest was established in 2014 as a field marketing organisation centred on consumer health insurance. Since then, it has built a nationwide broker network.
The agency is known for its work in ACA and has also added to its Medicare agreements and support services, allowing brokers to handle ACA and Medicare clients through one AI-supported distribution partner.
Benavest CEO Joe Gannon said: “Based on the confidence we have in the Gyde team, we made the decision to join Gyde to give our partners early access to AI technology and operational support that will help them grow faster, serve clients more effectively and expand into new opportunities, while continuing to build on the strong foundation we have created.”
Under Gyde’s ownership, Benavest will adopt Gyde’s AI system to increase agency and broker income by automating routine processes, increasing enrolment capacity, lifting renewal rates and cutting time pressures during enrolment periods.
The system also supports additional sales in life insurance, annuities and ancillary products for clients seeking wider insurance, wealth and health cover.
Gyde’s technology includes GydeOS, an automation layer aimed at easing the administrative and compliance workload faced by brokers.
The company said it helps brokers bring on clients more quickly, get ready for meetings in a short time and spot cross-sell openings for clients with ACA or Medicare cover.
Gyde co-founder and CEO Will Johnson commented: “Since meeting the Benavest team seven years ago, they have built an exceptional network of brokers who serve clients during some of the most important health coverage decisions of their lives.
“By combining their distribution strength with Gyde’s AI platform, we can help brokers grow faster, manage their businesses more efficiently and expand into new opportunities while continuing to support their clients.”
The platform also includes Gia, Gyde’s intelligent assistant, which contacts clients through SMS and voice messages with reminders, policy updates and personalised guidance on behalf of brokers.
The system is intended for both current Benavest partners and brokers newly joining the network, giving them tools to expand their operations while keeping person-to-person advice at the centre of the process.
The transaction follows Gyde’s recent public launch, backed by $60m in funding led by Lightspeed, as well as its earlier announcement of the acquisition of Palm Beach-based Medicare agency Avid Health.
