Zenefits, the fast growing human resources software company that raised the ire of the Utah Insurance Commission, is officially back in business in Utah. Because they offer their software for free and it can involve insurance, the Insurance Commission shut them down late last year reasoning the software served as an unfair inducement. In Utah, all insurance rates are set by the Commission.
Thanks to House Bill 141, sponsored by John Knotwell (R-Herriman), Zenefits is back in business. The bill quickly made it through the House and Senate in the latest session, a point Governor Gary Herbert mentioned in his remarks before he officially signed the bill into law.
Introducing the Governor at the short ceremonial signing was Val Hale. Governor Herbert mentioned a few facts about Utah business in his speech including Utah’s national prominence as a place to do business, the amount of venture capital being invested into Utah startups and Utah’s acceptance and use of technology both in the populace and the government.
Representative Knotwell spoke briefly after the Governor and introduced Zenefits COO David Sacks. Mr. Sacks was thankful to all the government entities responsible for passing the legislation as well as to Utah’s startup community who publicized the issue. Zenefits CEO Parker Conrad spoke in Utah this past January at the StartSLC convention.
The bill signing was organized by the Governor’s Office of Economic Development. Local media was present as were representatives of Utah’s startup community including the Utah Technology Council, Clint Betts of Beehive Startups and Ian Shelledy of Sustainable Startups.