Clara Insurance Rebrands to Brella; Announces Launch in Texas with $7M+ funding to Modernize Supplemental Health Insurance

NEW YORK, Aug. 10, 2020 /PRNewswire/ -- Brella Insurance, Inc. announced it has launched a modern supplemental health insurance plan for Texas-based employers and their teams. The company also announced its new name, Brella, and that it has raised an additional $1.5M from new investors, bringing their total funding to over $7M.

"Brella covers more conditions than any other supplemental health plan on the market, so we took the opportunity to choose a brand name that evokes the wide-ranging coverage we're excited to bring to Texas," said Founder and CEO, Veer Gidwaney. "We're also excited to welcome a few new investors who bring a wealth of industry experience as we build Brella into a company that ensures health hardships don't lead to financial hardship."

Even with health insurance, millions of Americans face financial burdens associated with unexpected medical events, and traditional products like critical illness, hospital indemnity, and accident insurance are simply too narrow in their scope of coverage to be truly supplemental.

That's where Brella comes in. Brella is a supplemental health insurance plan that pays cash if you're diagnosed with any of 13,000+ covered conditions—many of which are common complications of COVID-19. Brella aims to make it easy for employers to enhance their employee benefits with a simple supplemental plan that covers more and truly complements their health insurance.

Brella's new investors include Digitalis, Operator Partners—the investment group that includes Zach Weinberg and Nat Turner of Flatiron Health—as well as angel investor Ron Bouganim. They join Brella's existing investors, Two Sigma Ventures, Founder Collective, SymphonyAI, and RGAx, among others.

Founded in 2019 by Veer Gidwaney, former CEO and co-founder of Maxwell Health, Brella has partnered with RGAx and Greenhouse Life Insurance Company, subsidiaries of Reinsurance Group of America (RGA), one of the largest global life and health reinsurance companies, to bring this unique solution to the employee benefits market.

The company is actively engaging brokers and employers in Texas. To learn more and get in touch, visit joinbrella.com or email [email protected].

About Brella
Founded in 2019, Brella is modernizing supplemental health benefits to build a world where health hardship doesn't mean financial hardship. Brella's simple supplemental plan covers 13,000+ conditions and pays cash on diagnosis that you can use for anything you need on the road to recovery. Learn more at joinbrella.com and follow @brellainsurance.

SOURCE Brella Insurance