Planyear, an AI-native platform revolutionizing how benefits consultants manage and deliver services, announced today that it has raised $12 million in seed funding led by True Ventures. The funding will accelerate the development and expansion of the company’s BEACON platform, an AI-driven solution designed to automate administrative tasks and restore consultants’ ability to focus on strategic client engagement.
Planyear’s BEACON platform targets one of the benefits industry’s most enormous inefficiencies: the overwhelming amount of time consultants spend on manual tasks such as document processing, data entry, census standardization, and renewal workflows. By automating up to 70% of these time-consuming responsibilities, BEACON enables benefits consultants to focus on advising clients, strengthening relationships, and driving value.
Founded by benefits industry veterans who experienced the inefficiencies of traditional processes firsthand, Planyear was built out of a working brokerage with a deep understanding of the operational challenges consultants face daily. Its AI-based platform combines automation, analytics, and industry expertise to handle complex administrative work such as RFP responses, employee communications, and support requests—tasks that typically drain time and resources during renewal seasons.
According to Planyear, early customers, including six of the top ten brokerage firms, have reported transformative efficiency gains: a 75% reduction in manual data entry, a 50% faster renewal process, and nearly double the client capacity within one year of implementation.
The broader employee benefits industry, which manages over $1 trillion in annual healthcare spending, remains constrained by manual, legacy workflows. Planyear’s AI-native approach addresses these inefficiencies while improving accuracy, compliance, and customer experience.
The BEACON platform’s automation capabilities enable consultants to maintain control of data, enhance decision-making, and provide employers with faster and more transparent benefits management.
Planyear’s latest funding will be used to expand BEACON’s functionality, scale its engineering and sales teams, and enhance platform support for brokers, employers, and carriers. The company also plans to invest in continuous AI development to stay at the forefront of technology adoption in the insurance and benefits sectors.
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“AI has begun to transform the underlying economics of insurance brokerage. Using AI, firms will increase the efficiency and accuracy of their interaction with clients and insurance carriers with significantly improved control of data and awareness of pricing and coverage trends. This will reduce response times and increase profitability at the same time. The result will be an improved client experience with a greater focus on consulting and streamlined administration.”
Craig Hasday, President, National Employee Benefits Practice, EPIC
“Benefits consultants entered this industry to help people navigate healthcare decisions, not to wrestle with data entry. We’ve lived the late nights during renewal season, the frustration of manual processes, and the missed opportunities when you’re too buried in administration to focus on strategy. BEACON gives consultants their most valuable resource back: time.”
Tariq Hilaly, CEO, Planyear
“The benefits industry is ripe for transformation, but it needs solutions built by people who understand the nuanced challenges consultants face daily. Planyear’s team combines deep industry expertise with sophisticated AI capabilities to create genuine operational leverage. They’re not just automating tasks—they’re restoring the strategic advisory role that makes benefits consulting valuable.”
Puneet Agarwal, Partner, True Ventures
