Chapter: Medicare, Maximized
We first met the Chapter founders Cobi and Corey through a fellow Palantir alumnus Apoorv Agarwal back in August of 2020. Ross is a longtime advisor to the Palantir team — having introduced employee #1 to employee #2— and as a result, we’ve been fortunate to back 22 companies started by former Palantir alums. These teams have not only been compelling on the basis of the rigorous technical talent of the founding team alone, but also because the founders typically have deep lived experience that informs the specific problem they are going after. Cobi and Corey are no exception.
At Palantir, Cobi spent five years selling into the public sector. He noted that a growing majority of his customers were aging with very little guidance on how to navigate the next chapter (pun intended) of their lives, that is, retirement. That’s when Cobi tapped Corey and his good friend Vivek to go down the research rabbit hole — the trio discovered they should build a tech-enabled Medicare brokerage to better serve this aging demographic. They wasted no time in building and understanding the problem more deeply, Corey quickly becoming a licensed broker, spending a third of his time in the early days selling policies. The timing for this solution could not be more urgent with the current state of healthcare in our country.
In the short span of a year, Chapter has become the leading technology-driven Medicare Advisor that aligns incentives in Medicare plan selection and guides beneficiaries through the Medicare enrollment and renewal process. The need for this solution is not only acute because of rising public health concerns, but also because by 2030 over 20% of Americans will be older than 65 and become eligible for Medicare — and yet, existing systems are arcane and opaque. Historically, legacy Medicare brokers and online resources do not disclose the quality or quantity of their plan searches, opting to search and recommend only the subset of plans that pay them commissions, irrespective of whether those plans are the best-fitting options for the customers they serve. Chapter’s platform, leveraging proprietary data and recommendation engines, searches every available plan at a unique level of granularity to personalize benefits and premiums to the individual. The importance of searching every Medicare plan nationwide, more than 24,000 options, cannot be underscored enough compared to legacy online tools that typically represent fewer than half of Medicare Advantage options. The results are notable, with Chapter saving its median member $750 per year and with tremendous member satisfaction and lower churn than the industry average. Just read their reviews.
Chapter’s technology and team help Americans maximize Medicare through greater choice and clarity, while minimizing cost and complexity. Although we suspect that the world will continue to confront global health crises, we have hope that solutions like Chapter will help individuals navigate these every step of the way. That’s why we’re proud to have invested in Chapter from the beginning and participated in their most recent $17M Series A which is led by Narya Capital alongside our good friends at Susa Ventures, Maverick Ventures, Core Innovation Capital, and Health2047 Capital Partners.
