Health In Tech, Inc.
Health In Tech, Inc. is an insurance technology platform that helps brokers, TPAs, carriers, and small employers buy and administer self-funded health plans and stop-loss coverage. The company combines digital underwriting, marketplace distribution, and service automation to shorten quote-to-bind cycles and simplify health benefits administration.
Fiscal year 2025 · change from previous year
Development 2023–2025
Business
Share of revenueOnline marketplace where brokers select and sell self-funded health plan and stop-loss options.
Fees tied to underwriting, risk selection, and premium-based carrier arrangements.
Per-enrolled-employee fees for platform access, service delivery, and workflow automation.
Plan customization, vendor selection, claims support, and network services.
Products
Reported · share of revenue- Revenues From Fees79.4 %
- Revenues From Underwriting Modeling ICE20.6 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Health In Tech primarily serves small businesses that want self-funded health benefits but lack the scale or expertise to manage them directly. Its distribution is channel-led, so brokers, TPAs, MGUs, carriers, and third-party agencies are also key customers and referral partners. The company also serves the employees covered under those plans, which makes ease of enrollment, underwriting speed, and plan flexibility important buying criteria.
Buy self-funded health plans and stop-loss coverage to access lower-cost benefits with simpler administration.
Use the marketplace to compare plans, generate bindable quotes, and close sales faster.
Use the platform for plan administration, referrals, and service coordination.
Provide or underwrite stop-loss capacity and pay fees tied to premium and risk management.
Strategy
The company is focused on expanding its broker and TPA network, increasing enrolled employees, and using automation to compress underwriting and sales cycles. It is also broadening the product set with AI-assisted underwriting and telehealth integrations to make the platform more useful to small and mid-sized employers.
The business depends on brokers, TPAs, MGUs, and agencies to source and place plans.
More enrolled employees increase service-fee and underwriting revenue per customer relationship.
Automation lowers friction for brokers and employers and supports faster quote-to-bind conversion.
Telehealth and virtual care can improve plan attractiveness and retention.
Geography
Health In Tech is primarily a U.S. business, with clients in 42 states as of September 30, 2025. Its platform and member services are delivered nationally, while the business remains concentrated in the domestic small-employer self-funded health market rather than in a multi-country footprint.
Risks
Health In Tech is exposed to channel concentration and execution risk because its growth depends on retaining and expanding brokers, TPAs, MGUs, and carrier relationships. It also faces underwriting, claims, and regulatory risk inherent in self-funded health and stop-loss products, where pricing, risk selection, and compliance can materially affect profitability.
- Channel concentrationImpact: HighLikelihood: Low
Revenue growth depends on retaining and expanding a network of brokers, TPAs, MGUs, and agencies.
Exposure: Distribution and referrals
- Underwriting and claims volatilityImpact: HighLikelihood: Low
The company earns fees tied to self-funded plans and stop-loss insurance, which depend on risk selection and claims experience.
Exposure: Premium-linked underwriting revenue
- Regulatory complianceImpact: MediumLikelihood: Low
Health insurance products and brokered distribution are subject to state and federal rules that can change.
Exposure: Multi-state operations
- Technology and product executionImpact: MediumLikelihood: Low
The model relies on fast underwriting, platform uptime, and successful rollout of new tools like AI-assisted underwriting.
Exposure: Platform and workflow automation
Accounting
Judgemental itemsRevenue depends on enrolled employee counts and premium-linked carrier arrangements, so timing and contract terms matter.
Impact: Can shift reported revenue between periods as enrollment changes
Management excludes stock-based compensation and other non-GAAP items, which can make operating trends look stronger than GAAP results.
Impact: Affects comparability of profitability trends
The business model involves risk management and monthly reinsurance filings, which require judgment.
Impact: Can affect liabilities, margins, and period-to-period volatility
The company develops technology and AI-assisted underwriting tools, so capitalization and amortization judgments matter.
Impact: Can change operating expense and asset balances
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Last updated: 24/09/2026