Hyke
Insurance decision-support software for employees and employers, helping people choose coverage with confidence.
Overview
Hyke is a benefits decision-support platform for employers and employees, serving the health, group benefits, life, and P&C insurance markets. The platform was formed in August 2023 through an all-stock merger of MyHealthMath (a US-based health benefits decision tool) and Sherpa (a UK-based life and P&C insurance decision platform), combining complementary capabilities into a single global solution. The legal entity is Insurance Decisions Technologies, Inc., headquartered in Portland, Maine.
The platform delivers personalized plan recommendations during open enrollment, continuous year-round support, and a proprietary Protection Score that models each employee's insurance needs based on demographics and coverage gaps. Hyke integrates into employer benefit workflows with minimal setup, offering a guided five-minute experience that employees can access at any time. The platform operates as SaaS and is distributed through carrier and broker partnerships.
Hyke has raised USD 7.01M in seed-stage funding from investors including Harvard Pilgrim Health Care, Jennus Innovation, M Venture Partners, Maine Technology Institute, and NeoNet Capital. In February 2026, the company received a strategic investment from Aviva and follow-on funding from Unum, both longstanding distribution partners. Partners report that 86% of employees rate Hyke as a positive enrollment experience.
Products & Services
Benefits Enrollment Guidance
A personalized decision-support tool that guides employees through plan selection during open enrollment periods. The platform requires minimal employer setup and is available 24/7/365.
Key Features
- Personalized plan recommendations based on employee profile
- Quick, easy-to-use interface with five-minute guided experience
- Year-round availability beyond annual enrollment windows
Target Users: Employees selecting health and benefits coverage; HR/benefits administrators
Protection Score
Hyke's proprietary scoring capability that quantifies how much insurance protection an individual needs based on their personal situation, demographics, and existing coverage gaps.
Key Features
- First-of-its-kind protection gap measurement
- Increases plan switching rates (employees are 3.5x more likely to switch plans)
- Average savings of USD 1,500 per employee per year on health plan costs
Target Users: Employees, Employers, and benefit brokers seeking data-driven guidance
Healthcare Plan Comparison Tools
A plan comparison interface that presents available options with personalized insights to help employees evaluate trade-offs between coverage options.
Key Features
- Side-by-side plan comparison
- Personalized insights tailored to individual employee profiles
- Simplified presentation of complex coverage data
Target Users: Employees during open enrollment
At a Glance
- Founded
- 2023
- Headquarters
- Portland, Maine
- Employees
- 11-50
- Funding
- Seed
Category & Focus
- Category
- Customer Engagement
- Subcategories
- Benefits Decision Support Enrollment Guidance Risk Scoring
- Insurance Verticals
- Health Group Benefits Life & Annuity P&C Personal
- Target Customers
- Employers, Carriers, Brokers
Customers
- Unum
- Colonial Life
- Point32Health
- Bolttech
- Healthee
- HSA Bank
- Ryan Specialty
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Last updated: 2026-06-14