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SME and Startup Intent form for special Employee Group Health Insurance package post COVID
As per the guidelines issued by government on 15/04/2020, organizations must provide Employee Group health insurance to their employees. when they return to work post the COVID lockdown. If you would like, please go through this article on the same.

Employee Group Health insurance is a common benefit that all medium to large companies provide. It has multiple benefits - employee engagement, talent retention, tax free benefits, employee productivity. For smaller companies it is a challenge because Insurance companies find it difficult to mitigate the risk and end up giving a rate that is too high for small scale companies to afford. On top of that, the overhead of enrollment, communication and monitoring the claims can be overwhelming for small organizations.

We may be able to mitigate this problem if we create a pool of small and medium size organizations, while making sure each small organization is still treated as a separate unit by the insurance company and has the ability to choose the kind of policy and coverage the want.

We have partnered with brokers and come up with a plan that will give you all the benefits large corporate enjoy. Most of the insurance companies have come out with standard SME packages to address this need. However the coverage and prices that our brokers have worked out are very unique and competitive.

1. Competitive Group Insurance pricing: Highly discounted due to our exiting relations with them
2. Comprehensive coverage: Policies that cover the pre-existing diseases, cover for new born from day 0, no capping cover, individual and floater cover, cashless hospitalization
3. Option to cover employee only or employee and his direct family
4. Enrollment, Claims management and communication system
5. Policy management and monitoring system

We are an Insurtech providing administration and analytics solutions. Our SaaS based benefits management and administration solution, MyBenefits360 is a complete package of benefits administration, monitoring, wellness and fitness. We are proud to say, we have the highest number of integrations, providing actionable analytics, based on most comprehensions data. We are serving over 500+ corporate including Tata, STTelecom, HFS to name a few.

These proposed rates are almost 25-35% cheaper than the rates you will get if you approach the insurer or broker directly.  

Please go through the policy details and rates mentioned in the below sections and let us know if you would like to consider this offering.

Couple of cents based on our experience:
1. Govt. mandates only to cover the employees. While this looks straightforward, you may want to consider offering the cover for entire family and ask the employee to pay a portion of it. That will help your employee to buy the family cover at a much cheaper rate with tax free money.

2. Whether you want to consider this offering or not, make sure to understand the details of the policies and how to monitor your risk. Unmonitored policies can increase your premium by an average of 30%.

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