Monday, July 4, 2022
Techiexpert.com
No Result
View All Result
  • Login
  • Register
Exclusive Videos
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media
No Result
View All Result
TechiExpert
No Result
View All Result

6 Insurtech startups revolutionizing the corporate Insurance landscape in India.

Srikanth by Srikanth
June 15, 2021
in Tech news
Reading Time: 4 mins read
Implications and solutions of Big Data in Insurance
11
SHARES
160
VIEWS
Share on FacebookShare on Twitter

The ongoing global pandemic has brought the health insurance industry into the spotlight. Over 80% Indian population does not have any personal health insurance cover and the others are heavily dependent on their employers for insurance and other regular welfare benefits. 

Covid-19 until very recently was not part of all the insurance claims till the government of India made it mandatory for Insurance policies to include the same. While most companies are supporting their employees with financial resources and additional employee benefits including their families, they are now taking the responsibility of their employees in the crisis. Infact, the trend has been such that even employees are looking for companies with better and more secure insurance cover. Providing financial and health insurance to the employees allows for a safer and secured working experience. 

To pick the right policy for all your employees can still be a challenging task which needs close monitoring. With the evolution of technology in our daily work lives and in all the industries, from digital payments to digital insurance, making advanced technology like IoT (internet of things) is only further simplifying things from both ends. India being the third largest start-up ecosystem in the world, has led to a shift in the employee insurance landscape through modern tech,data driven solutions. These insurtech startups are not just helping companies in the metro cities but are also highlighting the importance of such initiatives in the tier-2, tier-3 and tier-4 markets.

Here are 6 Indian insurtech startups that a company should watch out for their employees’ benefits and well being:

Nova Benefits: 

Nova Benefits, an insurance tech startup is helping small scale businesses and corporations pick the best health insurance for their employees health and wellbeing. It helps HR save all the manual workflows saving time and energy with better results. Employees can use the platform to access their insurance e-cards, find cashless hospitals and make claims. The startup helps companies buy insurance, weigh their options and help them make a better choice. If the company already bought one, Nova Benefits has a tool to help them administer and manage their policy. Insurance consultations is one of the key propositions of the startup. From consultation to guidance at every step for your claim, Nova Benefits has it all covered for them. The startup also helps companies offer wellness benefits such as free doctor teleconsultation, health checkups, mental health counseling, and more. Handling close to 10,000 claims, the startup helps their clients with their expertise at no additional cost. 

PolicyBazaar:

PolicyBazaar is India’s foremost insurance aggregator and a leading fintech player globally, with the objective — Customer First and Sustained Profitability for the entire insurance ecosystem. The company allows the users to view and compare different insurance policies online based on their preferences. Users can buy, sell, and store policies online as well. The company provides an end-to-end solution to track policies and claims assistance, and hosts over 100 million visitors annually and records nearly 1,000,000 sales transactions/month. Currently,

PolicyBazaar accounts for nearly 32% of India’s life cover & retail health business collectively. The company has been supported by an array of scrupulous investors like SoftBank, InfoEdge(Naukri.com), Temasek, Tiger Global Management, True North, and Premji Invest. 

Insurance Dekho:

InsuranceDekho, an online platform that lets people compare insurance quotes from top-rated insurance companies and purchase the insurance policy that best suits their needs. Buying an insurance policy on this platform is very simple. The customer just needs to choose the type of policy they want, fill in the required details, compare various quotes and make payment, and their insurance policy is issued. From issuing  best policies to the customers  in just 5 mins, the company has  been successful in providing a delightful experience to more than 11.5 lac customers with the help of their transparent and quick process, a dedicated support team along with the availability of numerous insurers. A dedicated support team is available for your assistance all the 7 days.

Riskcovry:

Riskcovry is building a ‘financial infrastructure’ stack for insurance distribution in India.  As an Insurance-in-a-Box for any company, they are enabling any insurance product from any insurer across any customer engagement channel, holistically and seamlessly.  Their customers range from mainstream distributors like Banks, NBFCs, Brokers etc., to alternative players who are new to insurance distribution like retail, payment networks, BCs, digital, telecom, fintech, tech startups etc.  For such alternative distribution partners, they not only help you to start your digital distribution journeys, but work with you as your partners to accelerate your insurance distribution growth.  

Acko:

Acko, India’s first fully-digital general insurance company, founded in 2017. Provides personalized pricing to customers through deep-data analytics. It studies the customers’ interaction patterns and behaviours and accordingly suggests insurance products. Currently, Acko has insured over 40 million Indians, acquiring 8% of the car insurance policies bought online in India. It has also introduced Ola Ride Insurance for lost baggage, laptops, missed flights, accidental medical expenses, and ambulance transportation cover. The company has partnered with some of the best businesses in the digital world. Ola, redBus, Amazon and OYO are some of the popular partners alongside whom we’ve launched innovative products like trip insurance, electronics cover and hotel-stay insurance. 

Plum

Plum is a series A funded group health insurance startup that is simplifying insurance for large companies and small startups  with as few as seven employees. The startup which started just before the pandemic has seen immense growth and is on a mission of redesigning the insurance tech industry. Using advanced technology the platform has made claims as easy as three clicks for employees. The hassle free process of claims and smart fraud detection has saved many from falling in the trap of an ugly experience. The company has witnessed a growth rate of 110% from quarter to quarter onboarding 600 clients in less than 2 years. As one of the leading players in the insurance tech industry Plum has been catching the eyes of most. 

Tags: insuretech
Share4Tweet3Share1Pin1

Related Posts

Telemedicine Business
Tech news

Telemedicine or e-medicine: What is it?

Ways Data Analysis has changed customer reward programs
Tech news

Ways Data Analysis has changed customer reward programs

Digital Learning face recognition
Tech news

Here’s why Deep Learning might not be enough for celebrity face recognition

VPS Helps Forex Trading
Tech news

Staying Safe When Trading on a Trading App

Mozilla launches Thinderbird for android
Tech news

Mozilla launches Thinderbird for android

Most Read

  • How to Track Someone’s iPhone by Phone Number?

    How to Track Someone’s iPhone by Phone Number?

    517 shares
    Share 207 Tweet 129
  • Top 5 car automation trends to know

    283 shares
    Share 113 Tweet 71
  • Is Parody Coin investment a Good Investment?

    104 shares
    Share 42 Tweet 26
  • What is windows modules installer ? How to Enable/Disable

    1246 shares
    Share 498 Tweet 312
  • Tips to Reduce Your Website Hosting Costs

    883 shares
    Share 353 Tweet 221
  • How to Track Activities an Instagram account?

    89 shares
    Share 36 Tweet 22

Recent Stories

Doing Cleanup: 5 Types of Links You Should Disavow

Backlinks
Share4Tweet3Share1Pin1

Hyperlocal marketplace Urvann raises Rs. 3 Cr in Seed Round led by IPV

Hyperlocal marketplace Urvann raises Rs. 3 Cr in Seed Round led by IPV
Share5Tweet3Share1Pin2

Does domain extensions impact SEO standards

Does domain extension impact SEO standards
Share5Tweet3Share1Pin2

How Enterprise Blockchain can enable Privacy Preservation

How Enterprise Blockchain can enable Privacy Preservation
Share5Tweet3Share1Pin1
  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

© 2022 All Rights Reserved

No Result
View All Result
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media

© 2022 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Cookie Law Notice
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT