Startup Spotlight #107: Noyo

Noyo is the infrastructure for modern insurance experiences, building APIs that make it easy to embed benefits in any software app.

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I got the chance to speak with Shannon Goggin, co-founder and CEO of Noyo, about what she’s working on at her startup, and any advice she has for emerging entrepreneurs.

Noyo is the leading API platform powering the age of connected insurance. Founded by leaders in insurtech and API technology, Noyo is the connection gateway that enables modern, intelligent benefits experiences. Noyo’s complete, integrated infrastructure solution connects health insurance carriers, benefits platforms, and a growing ecosystem of innovators through a new industry standard for fast, accurate, and secure real-time data exchange. To learn more about Noyo's industry-leading platform that helps partners stay nimble and lead the next generation of insurance innovation, visit
Shannon Goggin is the CEO and co-founder of Noyo. Before starting Noyo, she built product at Zenefits, where she was inspired by the powerful role technology can play in improving people's experience with their health insurance. Shannon lives in San Francisco, where she enjoys cooking elaborate vegetarian meals.

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Startup Spotlight: Noyo

Problem: Technology is reshaping how people engage with health insurance, with a new generation of software emerging to modernize how people shop for, enroll in, and manage their coverage. Behind the scenes, though, insurance is administered by a tangle of disconnected systems stitched together by manual processes, fax machines, and custom-coded flat files.  

Market: Health insurance is a trillion-dollar industry, and each year more than $265 billion is lost to administrative waste. 

Solution: Noyo enables the future of health insurance by creating a modern API infrastructure that lets benefits software connect to insurance carriers. Our network makes it easy for benefits software to connect with insurance companies, keeping systems in sync and enabling real-time transactions and data access between these partners.

Team: Noyo was founded by former Zenefits product managers and engineers, where we were responsible for building the benefits product. Building efficient connections with insurance companies was a major pain point that affected our entire business, and we've built Noyo with domain leaders from within the industry and technology leaders from leading API and fintech platforms. 

Recent Success:

Goggin: We have had a lot of success getting major national insurance companies to partner with us from the earliest days. They partner with Noyo because our solution helps them integrate safely and quickly with their highest growth sales channels, growing their top line while improving their margin. Noyo's approach of partnering with insurance companies early allowed us to build an API platform with significant technical advancements over any other data connection methods available on the market.

Before Noyo, it was not uncommon for people to think they had insurance coverage but their insurance company did not have a record of their enrollment, leading to costly and scary coverage gaps that get discovered when someone is actually needing to use their health insurance. Noyo detects and resolves these potential issues before the consumer is ever affected. We have made technical breakthroughs that let us deliver an exceptional experience that just wasn't possible before Noyo. 

Recent Struggle:

Goggin: We are a distributed team, and we've grown from 10 to 40 people in the last year. When the business, the team, and the product are all advancing rapidly, it's so important to be constantly revisiting how the team is organized to make sure you're set up to operate as effectively as possible. You also have to continue to invest in the culture at the same time. Trying to hold some things constant while changing other things rapidly (and intentionally) can be a challenging balance, but it's critical to scale smoothly. 

Founder Advice:

Goggin: The best way to see if something can really work is to start - you don't need a team or capital to push forward. Call customers, work on the product and get feedback as quickly as you can. There are always thorny problems in every great business; the faster you can identify them, the faster you can calibrate on what matters most and advance your product. Get in the habit of making decisions quickly, even when you don't feel like you have enough information, and build up a relationship of mentors or other founders who you trust and can lean on for counsel. 

Four Cool Founders You Should Know About:

Goggin: Here are four founders you should check out next!

  • Fisayo Ositelu, Founder of Gentem: Gentem Health, Inc. is a Silicon Valley-based company with a simple mission - get healthcare providers reimbursed more and faster with minimal administrative cost.

  • Jaclyn Chen, Founder of Benepass: Benepass helps companies distribute their benefits to their employees through a single benefits card and mobile app.

  • Tobenna Arodiogbu, Founder of CloudTrucks: CloudTrucks is the virtual trucking carrier.

  • Niji Sabharwal, Founder of AgentSync: AgentSync is where Producer Management & Compliance meets technology & automation.

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