160. Derek Flanzraich, Founder and CEO of Ness

Today, I’m joined by Derek Flanzraich, founder and CEO of Ness, a wellness-based fintech company.

Beginning with a credit card that rewards healthy purchases through an app-based rewards program, Ness is building a world that reduces the cost of wellcare, allowing more people to improve their well-being.  Currently offering kickbacks for fitness memberships, wellness experiences, healthy food, and more, the company hopes its credit card creates a wedge into healthcare, aligning incentives between care providers and consumers. 

In this episode, we discuss the Ness’s rewards platform and wellness credit card, the lessons Derek learned from founding and selling media company Greatist, and how Ness plans to address the misaligned incentives in healthcare.

In this episode, you’ll learn:

• What Derek has learned from founding Greatist and Ness • His plan to reprioritize well-being in the healthcare industry • Consumer trends in health and wellness spending

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Chapters:

00:00 Introduction 01:17 Derek’s background 05:10 The Ness origin story 12:10 Incentive alignment in healthcare 15:02 Ness credit card solution 17:28 Credit card points for health and wellness 20:16 Ness rewards app  25:47 Open enrollment and partnership opportunities 27:44 Redefining people’s relationships with their health 30:38 Building an audience 35:09 The first Ness credit card reveal  35:46 How to engage with Ness 36:56 Conclusion