CUSTOMERS
Nayya builds trust with healthcare insurers through SOC 2 and HIPAA compliance
COMPANY
Nayya
LOCATION
New York, New York
INDUSTRY
Healthcare Technology
PRODUCTS USED
SOC 2, HIPAA, Continuous Monitoring
EMPLOYEES
32
Nayya is a software platform that helps employees make better choices about their insurance plans, and transforms the way employees choose and use their benefits.
The Challenge
In order to provide end users with personalized enrollment guidance, the Nayya Platform accesses health information such as insurance claim history, employer healthcare plan data, employee health records, and more. The sensitive nature of this information means strong security practices are critical - and proving this security posture to potential customers is imperative.
SOC 2 Type II and HIPAA compliance are particularly important to Nayya because a SOC 2 Type II represents the gold standard of security compliance for SaaS companies, and HIPAA compliance ensures protection of all the personal and identifiable healthcare information accessed by the Nayya platform.
Like many of our customers getting their first SOC 2, Nayya got to the “1-yard line” of a sales cycle with two large insurance companies when key stakeholders requested a copy of Nayya’s SOC 2 report. Together, Nayya and these stakeholders decided to move forward with an agreement with a commitment from Nayya to turn around a SOC 2 report within three months.
The Solution
Akash Magoon, Co-Founder and CTO at Nayya, sought a solution that would lift most of the burden from their engineering team and streamline both the SOC 2 and HIPAA audit process — without hiring a full-time security and compliance professional to join their small team. After connecting with a trusted adviser, Akash was introduced to Vanta.
The team got started with Vanta and audit partner, The Cadence Group, to conduct a three-month audit that would result in a SOC 2 Type II and HIPAA Compliance.
With a background and knowledge of data security, most of the technical aspects of the SOC 2/HIPAA processes were fairly painless. Most of the work was spent dialing in new processes for people management. Using Vanta’s customizable policy templates, Nayya put rigorous access and authentication restrictions in place and developed recovery and mitigation plans.
Results
Nayya’s audit period ran from September 15 to December 15, and in January they got their SOC 2 report to the insurers who had originally requested it - as well as a number of new interested clients.
Nayya estimates that with their SOC 2 report & HIPAA-compliant status, they were able to shorten the procurement process with new prospects by half and ultimately help more customers make better healthcare decisions..
3 reasons Nayya recommends Vanta:
- Speed was of the essence for Nayya as they needed their SOC 2 to close in-flight deals. Vanta enabled Nayya to move through audit prep swiftly and thoroughly.
- People management processes were key for Nayya, as they established practices that they could roll out for current employees and for each new hire thereafter.
- Vanta’s HIPAA support helped Nayya put in place the necessary controls to ensure their compliance with HIPAA. Data security is essential for all companies selling into the enterprise, and for companies working with sensitive healthcare data the bar is even higher; Nayya particularly valued Vanta’s partnership in their HIPAA compliance journey.
VIEW REPORT
Vanta is the easy way to get SOC 2, HIPAA, or ISO 27001 compliant. Over 1500 fast-growing companies trust Vanta to automate their security monitoring and get ready for security audits in weeks instead of months. Simply connect your tools to Vanta, fix the gaps on your dashboard, and then work with a Vanta-trained auditor to complete your audit. We'll guide you throughout the process and help tailor your security monitoring and compliance to meet the needs of you and your customers. Vanta was founded in 2017 and headquartered in San Francisco.
Vanta automates compliance starting with SOC 2
