Innovation intelligence brief
Innovation intelligence brief
Unique payment solution us is available to both brokers and carriers
What became of it
Reviewed · Low confidence · Last verified 2026-10-17
As catalogued
Philadelphia start-up (BenefitVault, founded 2013) whose Insurance Paid Easy service set up a dedicated account per employee and handled voluntary-benefit premium payments between employers, brokers and carriers, pitched as 'the PayPal of insurance' and charging about USD 5 per employee per month.
2026 reality
No operating service exists: insurancepaideasy.com does not resolve (observed 2026-10-17). BenefitVault reportedly laid off the majority of its staff around May-June 2016 after raising about USD 3.8 million; no later activity was found.
After a partnership with accounting-software vendor AccountMate and about USD 3.8 million in funding, BenefitVault cut most of its staff in 2016. No acquisition, successor product or formal closure notice was found.
no longer active; an early attempt at a dedicated payments layer for insurance premiums, a function since covered by payroll, benefits-administration and insurance-payments platforms.
Third taxonomy
REVIEW · Verified the 2016 layoffs and USD 3.8 million funding (Coverager), the 2013 founding (Technical.ly, June 2015, URL corrected) and that insurancepaideasy.com does not resolve. Closure remains inferred, so REVIEWED with low confidence.
Research interpretation
Classification paths, as catalogued, connect this example to the original insurance digitalization research models.