InsurTech Company Opens Indy Office, Plans 100 Jobs
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA New York-based insurance technology company has opened what its co-founder says will serve as hub in Indianapolis. HeathCare.com, along with its coverage arm Pivot Health, is investing around $10 million in its office on the city’s northwest side and plans to create more than 100 jobs over the next few years. Jeff Smedsrud says Indianapolis is a great city in which the company can build a presence in the Midwest.
Smedsrud, who also serves as CEO of Pivot Health, tells Inside INdiana Business the business and technology climate in Indianapolis was particularly attractive.
“Because of the universities…you have a very educated workforce. You also have this Midwest work ethic and culture and increasingly, it’s a wonderful place to expand technology,” said Smedsrud. “You’ve got really smart people, as smart as the people are in Silicon Valley, as smart as the people are in New York City that understand technology and trends. But it’s a different ethic. It’s a lower cost of hiring than, certainly, Silicon Valley where it’s just become silly.”
The company says Pivot Health will begin hiring inside sales agents focused on selling Pivot’s insurance products and Medicare products in the coming months. Smedsrud says while the initial goal is 100 employees, he expects the Indy office to grow as the company grows.
“I don’t want to overpromise in terms of numbers, but I expect us to be able to scale that well beyond 100 employees and maybe virtual employees scattered throughout Indiana or within an hour or two so that we can bring people together on a regular basis. There’s just so many things we can do with technology and so many ways to grow. Indianapolis has always been a very friendly insurance town and it’s increasingly a great technology town.”
Late last year, HealthCare.com secured $18 million in Series B funding from several venture capital firms, including Carmel-based CNO Financial Group Inc. (NYSE: CNO). Since its founding in 2014, the company has raised more than $27 million in funding.
Smedsrud says the business and technology climate in Indianapolis was particularly attractive.