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09/02/2024 Insurance Innovation

About

Bharatsure is a Group Benefits Insurtech on a mission to make insurance affordable and accessible to all organizations across India. Since our incorporation in 2021, we have served 400+ corporates and covered 1,20,000+ lives across the country.

Innovation presentation

Bharatsure works on a 3-tiered model:-

a. Direct Distribution of Group Insurance and Add-ons (B2B):

Under this model, we offer our entire product suite i.e., group insurance (health, accident, life), health and wellness add-ons , and retail add-ons directly to corporates ranging from an employee size of 2 to 10,000. We have built a robust technology platform where clients can be onboarded and all other operations (policy administration, additions, deletions, claims, etc.) can be done.

Under this model, we have served 250+ corporates covering 1,00,000+ lives; including the likes of marquee clients like Balaji Wafers, Chaayos, Snapdeal, CarDekho, Redaptive, Interview Kickstart, Entod Pharmaceuticals, Enkash, Scripbox, Sequoia Capital, Tricog Health, Paragon Partners, Clovia, Jodo, and many more.

b. Indirect Distribution of Group Insurance and Add-ons through intermediaries (brokers, agents, banks, fintech firms, etc.)

We have built a white-labelled tech platform for insurance intermediaries (brokers, agents, banks, fintech firms, etc.) which they can leverage to distribute our product suite to their client corporates. We provide our technology platform along with post-sales operations support (policy administration, additions, deletions, claims, etc.) to these intermediaries which would enable them to tap into the underserved MSME market and grow their customer base exponentially. This allows the intermediaries to focus on getting maximum clients onboard, while we at Healthysure take care of the entire process post client conversion. We are the first in India to offer these services and hence we have a major first-mover advantage.

Under this model, we have engaged 35+ agents and 2+ brokers who are using our platform to distribute group insurance to their set of clientele. We have also received expressions of interest from 5+ brokers to avail our white-labelled tech platform and operations support.

c. Affinity Partnerships

We partner with organizations to provide curated embedded insurance offerings to non-employer-employee groups. Exmaples of these would include credit-linked life insurance, student insurance, job-loss cover for an earned wage access platform, accident cover for a safety aggregator, etc.

Uniqueness of the project

This is where Healthysure steps in with its offerings:-

a. Top-notch employee benefits for our corporate clients along with a technology dashboard for member management and claims, as well as a host of health and wellness offerings to elevate the entire customer experience. We are rated highly on Google (200+ 5-star reviews – highest across group insurtechs) for our post-sales experience.

b. A white-labelled tech platform along with operations support (policy onboarding, endorsements and claims) for the presently traditional intermediaries such as brokers, agents, PoSPs, and fintech firms, which they can leverage to tap into the underserved MSME market and grow their customer base exponentially. This allows the intermediaries to focus on getting maximum clients onboard, while we at Healthysure take care of the entire process post client conversion.

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