Alyve Well being goals to democratize healthcare protection with built-in platform

The rise of healthcare house is ready to be one other large India story. Since 2016, the healthcare trade has grown at a CAGR of 22% to hit $372 billion in 2022. Backed by varied authorities initiatives, together with Ayushman Bharat, and rise of a number of VC-funded startups, healthcare house has develop into extra democratic than ever.

Although there’s an appetite for healthcare companies throughout India, at macro-level, many corporates are but to repair the complexities of offering complete healthcare protection, depriving numerous fashionable workforces of its advantages. That is the place Alyve Health is making an attempt to make an affect.

Based in 2020 by Shashank Avadhani and Sushant Roy, Alyve Well being gives a variety of healthcare companies, together with insurance coverage, well being check-ups, out-patient care, health, and preventive care, all on one built-in platform. This gives better accessibility and comfort for members, permitting them to entry all their protection in a single place and remove the complexity of pillar-to-post healthcare journeys. Members also can observe and monitor their progress in direction of their well being objectives and outcomes with the assistance of the platform.

For teams, Alyve Well being gives the power to configure a number of coverages and advantages on one platform, quite than negotiating with a number of distributors. That is geared toward permitting safe monetary advantages of scale of provide and helps combat the rising prices of healthcare by shifting spending in direction of prevention. Communities could be of a number of varieties like company, instructional establishments, alumni, shared objectives, housing Society, and extra.

“Our main distinctive promoting level is the fast configuration and launch  of plans and applications, achieved in simply minutes. That is made attainable by our integration with over 25 insurance coverage and healthcare networks, in addition to our capability for tailoring companies to every group’s wants,” founders advised Entrackr.

Alyve Well being has raised an undisclosed funding in a seed spherical. Founders mentioned they’re available in the market to boost a collection A spherical, which they anticipate to shut within the subsequent few weeks. Founders didn’t reveal financials and different associated data.

That mentioned, group insurance coverage as an idea is changing into more and more in style in India. It’s additionally mirrored by the recognition of startups leveraging know-how to democratize medical health insurance in India, similar to Acko, Digit Insurance coverage, Plum, and Onsurity. As talked about above, the healthcare insurance coverage market is admittedly large in India and extra startups with distinctive propositions could make a mark. In conclusion, the rising recognition of group insurance coverage and the emergence of progressive startups within the healthcare insurance coverage market in India exhibit the potential for continued development and transformation within the trade.