New Delhi:
Policybazaar.com, an insurance marketplace, has launched its new Group Health Insurance program for SMEs, MSMEs and Large corporates. It promises to leverage technology and expertise to be able to provide supremely flexible offerings that are customized for companies’ basis their size, location (spread), competition and need.
“The need for a food delivery company with 1000 delivery riders is very different from a small corporate that has tech geniuses working from home,” The one-size-fits-all approach cannot work anymore since businesses, their operations and their wallets are different and complex,” said Sarbvir Singh, CEO – Policybazaar.com.
“The real difference is that we are attempting to focus our offering towards the employee and not the employer. You can see this from the servicing ability of our app which does not require any intervention from the HR or Administration teams of companies,” said Singh.
65% of healthcare expenses in India have been outside of Insurance and this is the strongest attempt to bring it under a single umbrella,he added.
Employees can choose health insurance from 10+ insurers and can also customize plans, compare, plug in add-ons like COVID protection, top-ups and term life etc, he asaid..
The platform has a self-service section that helps each employee to understand the cover their employer has provided and an easy claim processing section where an individual can, within 3 clicks be able to launch a claim, find a hospital and decipher the overall expense that may arise.
Policybazaar already has a list of corporates in its portfolio including Delhi Duty Free, Delhivery, Yatra, Rivigo, Ziploan, Max Bupa Health Insurance, Lenskart, Blue Tokai and Crompton.
Despite being 50% of the health insurance premiums in the country, Group Health Insurance has been an opaque and rigid offering only useful for patients if they are in the hospital.
However, to break the cliché, Policybazaar has introduced flexi-benefit plans and 27 non-hospitalization features like diagnostics, online doctor consult, Nutrition, Second-Opinion services, Mental Wellness, and training options like Yoga and Personal Training.
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