Avibra

Avibra operates what it describes as a B2B2C embedded benefits ecosystem combining well-being, financial and insurance products. Consumers access the offering through a mobile app in which engagement with well-being content — quizzes, educational and financial-literacy videos, guided meditations, brain workouts, a gratitude journal, yoga and relaxation audio, and synced wearable activity data from services such as Fitbit, Apple Health and Google Fit — accrues no-cost insurance coverage. The app advertises up to $15,000 of insurance earned through engagement, and in earlier descriptions coverage of $10,000 in accident insurance and $5,000 in life insurance offered at no cost, alongside a well-being adviser covering financial, physical, career, social and community health.

Beyond the free tier, Avibra runs a "Dollar Benefits Store" in which individual benefits can be purchased for $1 per week each. Catalogued benefits include accident medical, accidental death and dismemberment, telemedicine (unlimited 24/7 virtual visits), teletherapy, term life insurance, cell phone protection, critical illness (cancer, heart attack, stroke, renal failure), roadside assistance, and a "Risk Advisor" set of features (myRadar, myDwelling, myHealth, myRide) that uses location and driving data. Dental and vision are also cited among the $1-a-week options. An in-app marketplace, myShield, surfaces third-party home, auto, renters and pet insurance through partners including Hippo Insurance, ASPCA, MSI and Matic. As of a January interview the company offered 13 benefits and planned to add 12 more during that year, with prescription discounts and a chiropractor network among planned additions. The company also describes social commitments, including planting a tree per month for active users via TIST and covering another family in a different state each week for engaged users.

Founding story

Yogesh Shetty is the sole founder and CEO. Before Avibra he held roles at New York Life, Lehman Brothers and JPMorgan Chase and spent seven years at a startup; he says his time at New York Life inspired the company and that he has no formal education and is self-made.

Business model

Avibra does not sell directly to consumers; it distributes its platform through businesses that make the benefits available to their workers, and through partnerships with large fintech companies, employers of part-time workers and restaurant businesses. Basic benefits are provided at no cost and additional benefits are sold at $1 per week each, with the economics dependent on underwriting benefits to fit the $1-a-week price point and on reaching sufficient scale in members and partners.

Revenue comes from $1-per-week per-benefit purchases in the Dollar Benefits Store and from selling the benefits platform to companies that offer it to their workforces; a third-party profile also describes freemium and premium subscription membership tiers.

Traction

The Google Play listing shows more than 100,000 downloads of the consumer app. The company reported 13 available benefits at the time of a January interview, with plans to add 12 more that year, and a 22-person, mostly remote team.

Latest developments

The company said it aimed to significantly grow its member footprint over the following six months, had large partners in the pipeline, and planned to add prescription discounts, a chiropractor network and further benefits. Its Google Play listing shows continued app maintenance updates.