Avibra

Avibra is a mission-driven company that provides a benefits, perks, and rewards ecosystem for employers and direct-to-consumer via its app. Founded in 2018 by finance and life insurance industry veteran Yogesh Shetty, who currently serves as CEO, Avibra was created to address the rising costs and decreasing accessibility of benefits for the U.S. population. The company aims to make benefits affordable and manageable, particularly for part-time, hourly, and gig economy workers who often lack access to traditional benefits packages.

Avibra's business model operates on both an enterprise and a direct-to-consumer level. For individuals, the company offers a free app where users can earn no-cost insurance coverage by engaging with content designed to improve their well-being across financial, physical, professional, and social aspects. This content includes quizzes, videos, guided meditations, and a gratitude journal. The core of its affordable offerings is the "Dollar Perks Store," where members can purchase a-la-carte benefits for just $1 per week per perk. These benefits range from telehealth, teletherapy, and critical illness insurance to cell phone protection and roadside assistance. The company is able to offer these low rates by purchasing benefits in bulk, similar to a wholesale model.

For enterprise clients, Avibra provides a platform that can be embedded into their existing systems, allowing them to offer a customized suite of benefits to their employees or customers. This B2B approach helps organizations enhance their value proposition, improve employee/customer retention, and provide a safety net for their workforce. Avibra has established strategic partnerships with various financial services firms and companies that cater to independent workers. The company is not an insurance provider itself but partners with insurance companies and service providers to offer these benefits to its members.

Keywords: employee benefits, financial wellness, insurtech, benefits administration, gig economy benefits, micro-insurance, corporate wellness, mobile benefits app, perks platform, employee engagement, voluntary benefits, affordable insurance, telehealth services, teletherapy, financial planning tools, direct-to-consumer insurance, embedded benefits, well-being platform, risk management, protection products