(RTTNews) - Shares of Health In Tech (HIT) jumped 24% overnight after the company announced a new partnership with Ciklum, an Amazon Web Services (AWS) Advanced Tier Service Partner. The collaboration is aimed at accelerating the development of Health In Tech's AI-driven InsurTech platform, which serves as a marketplace for self-funded stop-loss health insurance.
Health In Tech's platform already connects more than 800 brokers, administrators, and carriers across 40 states. By teaming up with Ciklum, the company plans to strengthen both the front-end and back-end of its system-ranging from bindable AI-powered quotes to advanced financial reporting. The enhancements are designed to streamline workflows, improve usability, and deliver deeper insights for insurance partners.
CEO Tim Johnson emphasized that the company's mission is to simplify self-funded insurance and make it more accessible. He noted that Ciklum's expertise in AWS architecture and AI-powered engineering will help eliminate fragmented processes and improve customer retention.
Raj Radhakrishnan, CEO of Ciklum, echoed this sentiment, highlighting that the partnership will unify complex systems and boost operational efficiency.
For investors, the announcement signals Health In Tech's commitment to scaling its platform and driving long-term growth. With AI and cloud-native solutions at the core, the company is positioning itself to expand into larger employer markets while strengthening its foothold in the evolving InsurTech space.
HIT has traded between $0.51 and $4.02 over the past year. The stock closed Tuesday's trading session at $1.70, down 0.58%. During overnight trading, the stock rose to $2.65, up 56.47%.
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