QubeHealth, the fast growing, embedded-finance, health-tech company, focused on redesigning the Indian healthcare experience, has partnered with Nova Benefits, the Bengaluru based employee wellness startup, to launch a full-coverage, employee health benefits product that combines 0% Pre-Approved Healthcare Financing, Health Insurance, and a Healthcare Marketplace for Indian Corporates and their employees.
The combination of 0% financing with health insurance takes aim at the massive Out-of-Pocket-Expenditure (OoPE) spends on healthcare by Indians every year. ‘OoPE’ accounts for over 60% of India’s entire Healthcare Expenditure, with 7 out of 10 Indians not being covered under any health insurance or those with insurance, being under-covered.
Both companies have brought together their complementary strengths – Nova with their technology led, insurance and employee wellness discovery and purchase platform, and QubeHealth with their Healthcare Financing & Marketplace platform, to change the way Indian companies are addressing Employee Health Benefits post the pandemic.
Collectively serving over 500 companies in India, both companies are on a mission to help HR Teams make better healthcare decisions for their employees and for the employees to access and easily pay for the healthcare they need.
Chris George, CEO & Co-Founder of QubeHealth, said that “We are on a mission to help Indians take control of their healthcare, one working Indian at a time. We share a common mission with Nova Benefits and want to simplify Indian healthcare for the employed Indian. This partnership is a step in that direction.”
Saransh Garg, Co-Founder of Nova Benefits, added, “Historically employee health insurance and wellness has just been a checkbox item for corporates. The pandemic has changed that. We are excited to partner with QubeHealth, to improve the employee well-being of 10 million Indians by 2025 through application of targeted wellness programs, personalised care and a seamless insurance experience. With our help, employee-first companies can drive employee happiness and retention.”
Check our exclusive Interview with Saransh Garg