Nayya

Nayya is an employee benefits and experience platform that offers solutions to employees’ needs through automated benefits selection and utilization. The platform guides employees through decisions during open enrollments, new employee onboarding, life events, and managing finances across various benefits throughout the year.

It offers a suite of products designed to enhance the benefits experience for employees:

1) ‘Nayya Choose,’ a personalized decision support system that combines employee data on health, wealth, and other preferences to recommend a portfolio of benefits to fit employees’ unique needs.

2) ‘Nayya Use,’ a benefits engagement module that focuses on maximizing benefits use, providing employees with insights and suggestions on how to make the most of their benefits throughout the year.

3) ‘Nayya Claims’ streamlines the claims process by integrating medical data seamlessly with benefits providers to automate and simplify claims management for employees. This ensures employees receive their claims, especially during tough times.

4) ‘Nayya Retirement’ offers tools and resources to connect their retirement accounts for effective retirement planning whilst also connecting employees with favorable plans and strategies.

5) ‘Naya Leave’ assists employees in navigating the complexities of various leave programs such as maternity. It ensures employees can understand and access their entitlements with ease by providing assistance on form filling and fund disbursements.

Nayya claims its AI-powered solution that centralizes benefits data (featuring more than 3 billion external data points) reduces benefits-related questions directed to HR teams by 80%.

Key customers and partnerships

As of April 2024, Nayya’s key customers included Cape Air, Sumit Medical Group, Hilb Group, and Just Global.

The firm has partnered with benefits administration and human capital management (HCM) platforms (ADP, Workterra), insurance brokers (NFP, Salty), and digital health solutions providers (Yogavibes, Genomic Life) to extend the capabilities of its platform. In October 2023, Nayya established a strategic relationship with MetLife, making MetLife the exclusive insurance carrier to offer Nayya's AI-powered solutions to employers with more than 1,000 US employees. In July 2023, Nayya partnered with Prudential Financial for the latter’s clients to take advantage of Nayya’s benefits decision support tool during open enrollment.

Funding and financials

In March 2022, Nayya raised USD 55 million in a Series C funding round led by ICONIQ Growth, valuing the company between USD 500 - 750 million. Funds were earmarked to bolster product development efforts and expand partnerships with major healthcare providers.