league is reinventing the health insurance industry
THe Ceo: MiCHAEL SERBiNiS ToTaL InVeSTMenT: $30 MiLLiON
STone-age paperwork and red tape are enough to scare most tech-minded entrepreneurs away from health insurance. Not Michael Serbinis, one of Toronto’s most successful innovators. After he sold his ebook company, Kobo, for $315 million in 2012, he founded League, a platform that simplifies benefits and insurance—clients include UHN, Etsy, Starbucks and Entertainment One. Members load the app on their smartphones and swipe through a sleek marketplace of benefits providers, where they can book appointments and pay for them with a digital wallet. Last year, League raised $25 million from OMERS and even secured funding from a handful of competitors: RBC, Manulife and Power Corp. The company recently opened offices in Seattle and Chicago, expanding its operations in the U.S., where premiums are thousands of dollars higher than in Canada—and where League, which takes a small cut of each transaction, stands to strike gold.