https://www.youtube.com/watch?v=QlLX-_1yT1I#t=85
Health insurers have talked a lot about repositioning themselves to be more appealing to consumers. Gravie, a health IT startup in a subsector of health insurance to help employers and individuals select insurance is taking that message to heart through a wacky animated video. It just raised $12.5 million in a Series B round, so it’s not having trouble attracting investors.
The ad leaves any relevant information to the very end and has nothing to do with the complex decision-making process of choosing insurance. Salisbury steak, pork and a chicken get cozy in a bowl of gravy. A unicorn gets wings. There’s a karaoke bar and a mugshot. Ultimately one gets medical attention from a gravy IV because you see, “gravy makes everything better.”
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If I had a dollar for each time I have heard someone fervently wish for health insurance to be more like car insurance I’d be modestly wealthy. But seeing as the regulatory constraints probably aren’t going to change anytime soon, the next best thing would be making health insurance commercials a little more like car insurance. I’d gladly take a talking, live action gekko giving me at least a modicum of information about why their service or package is better than others and I’d probably learn more from it, too.
The company just raised $12.5 million in a Series B to support its expansion in its home state, Minnesota, as well as Chicago, Indiana, Florida and Texas, according to an emailed statement from a spokeswoman. It will also be used to help grow Gravie’s concierge services. They include helping employees pick a plan, identifying and pursuing tax credit eligibility on behalf of employees, and managing employer contributions. Employees receive a designated adviser to answer healthcare questions, such as finding a clinic or paying a bill.
The company works with employers to help them transition from group to individual coverage by making available a state’s entire insurance marketplace, including offerings in the private market as well as public exchanges, according to its website.
Split Rock Partners led the round and existing investors Aberdare Ventures and FirstMark Capital participated. The company’s raised a total of $23 million to date.
