Genius Avenue | Improving Lives | Megan Wood

To address these challenges, Genius Avenue has developed a secure, scalable, and regulatory-compliant platform that is mobile-friendly and designed to help its partners grow, connect, optimize, and automate their processes. “By leveraging our platform, we empower our partners to sell more products in more markets to more groups while simultaneously creating better customer experiences. This leads to higher adoption rates and more renewals and drives greater efficiency across the board,” says Megan Wood, President of Genius Avenue.

Megan’s visionary approach encourages constant innovation and the pursuit of better ways to serve the company’s clients. Her belief in the importance of long-term value over short-term gains fosters deep, lasting partnerships that deliver enterprise value for Genius Avenue and its customers.

A Unique Offering

Genius Avenue takes a broader view of what constitutes a benefit. They believe that a benefit is more than just a traditional insurance product like vision, dental, or health coverage. A benefit can be anything that improves someone’s life; whether by making it more accessible, less stressful, profitable, or safer. With this philosophy in mind, they focus on creating platforms that simplify the process of discovering, purchasing, and utilizing these benefits. The company aims to make these products more accessible and the overall experience more enjoyable and efficient for the end consumer.

The company is particularly excited about adopting MACH architecture in the new Genius Avenue HUB solutions. MACH—Micro-service, API, Cloud, and Headless—represents the next generation of flexible, scalable technology solutions. This architecture allows them to integrate seamlessly into existing ecosystems, making implementations smoother and more efficient for their partners.

“Our commitment to perpetual security and data improvements is another area where we continue to lead the industry,” says Megan, “We maintain industry-leading regulatory compliance and are continually expanding our certifications to ensure that our solutions remain at the forefront of security and innovation.”

Genius Avenue is fearless to be first. The insurance industry is traditionally risk-averse, which can often lead to a reluctance to adopt new ideas and technologies. The company’s focus on the front-end and experience of the user sets it apart from many third-party administrators (TPAs) and service providers. Genius Avenue is obsessed with creating seamless, intuitive user experiences that enhance the customer journey.

In addition, the company combines cutting-edge technology with deep industry expertise. Unlike many insurtech companieswho come from a pure tech background, Genius Avenue thoroughly understands the regulatory complexities and nuances specific to insurance and benefits. This unique combination allows them to build technology solutions that directly address their clients’ real-world challenges.

Building a Strong Future

According to Megan, the COVID-19 pandemic has been a wake-up call for the industry, highlighting the significant lag in digital adoption within the insurance and benefits sectors. “Consumers today expect the same digital ease of use that they experience with platforms like Amazon and Shopify,” she explains, “At Genius Avenue, we are at the forefront of making insurance and benefits shoppable in a similar way – ensuring that our products remain relevant and accessible in this rapidly changing digital landscape.”

In one instance, Genius Avenue partnered with a leading identity protection company to enhance enrollment, administration, and go-to-market strategies. They enabled seamless system connectivity and streamlined operations by leveraging their comprehensive solutions. These included API integrations, compliance management, and custom data feeds. This collaboration improved customer experiences, resulted in higher adoption rates, and optimized operations for diverse groups, including 1099 and part-time employees. The challenges facedwith integrating multiple systems while ensuring security and compliance were met with Genius Avenue’s innovative approach. This drove significant growth and operational efficiency for their partners.

Looking ahead, Genius Avenue is focused on developing their platform’s capabilities to serve carriers and brokers more effectively. “We are particularly excited about how our new MACH architecture can enable us to discover even better solutions for a broader range of partners,” elucidates Megan. “We are currently exploring opportunities in healthcare, public health and government, Fintech, banking, and other sectors, to expand our reach and impact.”

Genius Avenue also recently selected Usio to power a new, comprehensive FinTech solution focused on regulated enterprise businesses, particularly in insurance, benefits, and healthcare. Genius Avenue will leverage payment facilitation,alongside offering digital disbursement with prepaid card programs, commission automation, and innovative financial management tools.All of theseare coupled with advanced member management and sales platforms. This partnership highlights their shared commitment to enhancing financial capabilities and improving customer experiences for their partners.

“We would like to emphasize our commitment to innovation and customer experience. Genius Avenue is not just about creating products and solutions; it’s about making a meaningful difference in the lives of the people who use them,” emphasizes Megan, “We are continuously exploring new ways to enhance our offerings and better serve our clients, ensuring that we remain at the forefront of the industry.”