Noyo

Noyo traces its origins to a clear recognition by its founders, Shannon Goggin and Dennis Lee, of a persistent and critical inefficiency within the benefits industry. Having experienced firsthand the complexities and frustrations of data exchange in previous roles, particularly within tech and benefits at Zenefits, Shannon identified a fundamental need for a modern technological layer. This layer would enable seamless communication and data transfer between the various players in the benefits ecosystem – insurance carriers, benefits administration software providers, and employers. The existing systems, often reliant on manual processes, outdated file formats like EDI, and cumbersome legacy infrastructure, were prone to errors, delays, and a general lack of transparency, ultimately impacting the experience of employees trying to access and understand their benefits.

With a vision to create this essential digital infrastructure, Noyo was founded in 2017. The company set out to build a powerful API (Application Programming Interface) platform, a set of tools and protocols that allow different software systems to communicate with each other directly and efficiently. This approach was designed to replace the slow, error-prone methods of the past, offering real-time data synchronization and a standardized way to manage benefits information. Noyo's mission became to build the 'connections gateway for modern insurance,' aiming to make benefits data move freely and accurately. This would not only streamline operations for businesses but also empower individuals by ensuring their coverage information was always up-to-date and accessible when they needed it most. The journey began with a focus on solving the root problems of data exchange, aspiring to create solutions that felt like 'magic' to its users by simplifying complex processes and fostering a more connected and responsive benefits landscape.