“Medical Claims-Under one roof”
Claims are a large part of Medical Insurance and the various services under this umbrella term can rarely be found in the same place. Syed Aijazuddin realized this through his many years of experience in the field and fielded his venture Acess Meditech private ltd in 2005.
Acess Meditech Pvt. Ltd. has since emerged as a leading provider of business process outsourcing services for claims management. The first end to end claims management service provider for the insurance industry as a whole.
Mr. Aijazuddin has worked with “Assist America Emergency Services”, one of the world’s largest Medical Assistance companies based in the USA. He has worked in this capacity as the Managing Director & Operations Director for India.
Before his return to India, Mr. Aijazuddin was working in the Middle East (Saudi Arabia), with “CareCard International Insurance Services Ltd.”, one of the largest Health, Life & Accident Insurance companies in as their Senior Underwriting Manager.
On his return, he brought along with him “Assist America Medical Emergency Services”, and spent 2 years with the company as Managing & Operations Director of “Assist America Medical Emergency Services (India) Pvt. Ltd.”
From 2005 onwards, he has been building his venture Acess Meditech Pvt. Ltd. Expanding its variety of projects and services.
Yourstory learnt more about his work and the insurance claims venture he has started in an informative interview with Syed Aijazuddin.
Please tell us about on Acess Meditech Private Limited?
Acess Meditech Private Limited (AMTPL) was registered on 28th March 2007 with a vision to revolutionize the Insurance Sector as a whole individually specialized in Health Insurance Solutions. Mr. Syed Aijazuddin is the founder and the Managing Director of the Company who dreams to achieve the highest standards in terms of the quality, quantity and the services in order to fulfill the Insurance Market needs and create a trend of Insurance business operations. His vast experience and conceptualization has brought in to capture the Health Insurance Market by it’s In- house Software Solutions. Acess Meditech has a competitive reputation in serving its two Clients’ in Middle East and one from United States at International level in just first 4years of its initiation.
What is the basic business idea behind your venture?
The basic business idea is to provide the Customized user – friendly robust product as per the Health Insurance Market needs at National and International level. The business idea is to provide innovative solutions in par with the upcoming technology trends to provide a comprehensive profitable healthcare- insurance business.
What is your target market?
Our target market is the Insurance and Healthcare Sector, specifically to serve the Insurance Companies/ Reinsurer’s/ Third Party Administrator’s, Hospital Management Organization – HMO /Managed Care Organization’s – MCO’s worldwide.
How is your venture different from others in the same segment?
When did you realize that the next step from a 9-to-5 was entrepreneurship?
Before becoming an entrepreneur I worked in the industry and reached a point where I felt that the there was no growth or was very limited. While working in the same industry, I have realized how much pressure and shortfalls this industry had and the potential for Health Insurance Industry was tremendous and growing and very few people concentrated on the basis of making it right.
What has been the most difficult experience for you so far?
My experience for any new company in the technology sector is doing the first sales, because whenever you try to approach a prospect the first thing you are asked is your client list, I believed in what I was doing and had faith in my god and kept trying eventually it clicked with a major American company among the top 500 fortune companies becoming my first client.
What is the biggest blooper you made as an amateur entrepreneur?
When I wanted to expand outside India, I got into an exclusivity agency agreement with a company, and as that company had no defined targets, my growth potential was high but the company didn’t grow because the agency with whom I got into arrangements didn’t do a good job.
What drives you to stay buckled on the rollercoaster ride of entrepreneurship?
The challenges and believing in what I am doing is what keeps me going. I have done my ground work and based on the facts I know I am doing what the market requires; it’s always a matter of time before it gets clicked.
What is the status of your organization regarding growth for the coming 2 years?
We now have got enough opportunities, we are hiring people and getting ready for major expansion in different countries, we are in the process of setting up strong infrastructure, to be ready for the growth.
What are the areas that challenge one in the Indian market?
Indian Market is in need driven and the Consumers opting for the unique new products at an economical cost. The major challenge would be to breakthrough your product and persuade the user’s to proceed for any product across the conventional methods of operations. Challenges and hurdles are inevitable for an entrepreneur in any business. All the challenges can be turned as opportunities by persistent hard work and determination. If the entrepreneur has distinct business model that can innovate and bring benefit to any industry business than the usual to fulfill the needs of the market then the process pathway would be easier.
Yourstory wishes Syed Aijazuddin and Acess Meditech Private ltd. much success and happiness. God willing his entrepreneurial dreams and aspirations shall all be fulfilled…