How Archetype Helped Beneration, an Insurtech Platform, Grow and Scale

Beneration Overview

Beneration is an insurtech platform that empowers brokers and carriers to solve disparate and inaccurate billing. Its platform helps companies consolidate invoices from all their health and ancillary insurance carriers, identify discrepancies between carrier invoices and company enrollment data, and automate the benefit payment process.

Beneration’s proprietary intelligent natural language data-matching solution integrates with Employer Human Resource Information Systems (HRIS) to match employee names, supplements with member IDs, and SSNs, creating the only data-matching platform custom for HR and Employee Benefits administrators.


A Kaiser Family Foundation 2020 Employer Health Benefits survey found that an average 575-life employer is exposed to an estimated $215,000 of incorrect health premiums each year. As the second largest expense on any P&L, benefit charges come as several different PDF invoices for each insurance carrier. Prior to Beneration’s inception, companies were challenged by manually matching insurance carrier charges to proposals, often through large spreadsheet files.


In 2019, Archetype Fund I identified Beneration as a promising asset during its consulting engagement with Kistler Tiffany Benefits. With 87% of carrier invoices containing errors, Archetype observed a clear market need and an opportunity to help millions of people stay covered by paying the right amount in insurance.

In addition to investing in Beneration, Archetype was able to deploy value-creation teams to provide functional and operational resources to Beneration, supplementing their full-time teams and supporting portfolio company growth. The support included the following:

  • Deploying a team of full-stack developers and technical architects to build Beneration’s VerifiaBill application, which offers premium invoice auditing services, invoice consolidation, and reporting
  • Implementing a retiree billing system allowing Beneration to service large clients in an efficient way
  • Supporting the application process for TPA licenses across all 50 states
  • Managing the sales pipeline, including access to Archetype’s ecosystem of partners, advisors, LPs, and portfolio companies to accelerate distribution

Results for Beneration

By leveraging Archetype’s ecosystem, Beneration formed strategic distribution partnerships with 75 brokerages and five carriers.

Through its partnerships, Beneration ensures that 115,000 employees are insured with the right coverage for themselves and their families. Beneration’s impact can be categorized under SDG 3**, Good health and well-being. Beneration provides employers, carriers, and brokers better connectivity to accurate employee coverage information, empowering people to access the healthcare and benefits they need, in accordance with Target 3.8 of the SDGs, which promotes the coverage of essential health services.


With access to health and plan data from carriers and employers, Beneration is poised to capitalize on valuable market analytics and health insights. Every $1M in future incremental ARR should equate to 70,000 employees with full benefits offering data, compensation, and member/dependent data. Beneration’s success helps to further Archetype’s mission to make work better for 50 million people.

*Estimated based on assumptions informed by Beneration’s current broker and employer relationships. Beneration currently has 75 broker relationships, each of those brokers works with an estimated 150 employers.

**Archetype’s impact categories are guided by the United Nations Sustainable Development Goals (SDGs)