[Tech30] This B2B2C healthtech startup is helping organisations take care of employee health

For any business or company to thrive, it’s always important to have a healthy workforce. With the arrival of COVID-19, the employee health has become even more imperative today than before.

This is where Bengaluru-based Onsurity comes into play. Founded by Yogesh Agarwal and Kulin Shah in early 2020, the startup offers affordable healthcare benefits and insurance plans to entrepreneurs and small businesses. According to the startup, this helps increase employee retention, productivity, attract talent, and enable SMEs to build a happier workforce.

“We offer benefits like medicine, teleconsultations, health check-ups, health awareness programmes, as well as health, accidental, and life insurance. All these, when combined, empower SME employer to adequately care for its employees and give them a sense of security,” says Yogesh.

According to the team, through the Onsurity App, employees can manage their plans and avail different healthcare and wellness benefits such as consultations, book check-ups, and order medicines.

Similarly, the employer can use its dedicated dashboard to keep track of the company’s costs and manage the membership of its team members.

The startup has been selected as part of YourStory’s Tech30 for this year as it is making healthcare affordable for the SMEs.

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Finding the need

Previously, Yogesh was helping his family MSME business. He recalls that none of their workers had any healthcare benefits, which he says was due to lack of good and affordable health plans. Hence, in case of health eventualities, employees would take their salary in advance, which were very difficult to recover due to the nature of salaries and attrition.

The second time he faced a similar issue was when he quit his multinational job and started his own actuarial and employee benefit consulting business. Having worked as part of the top management and being in CXO position in multiple insurance companies, he still could not find an affordable comprehensive health plan, which was not capital intensive and matched the benefit of large corporates.

This became a huge issue as his employees saw the lack of employee benefits as a negative point to join his consulting startup. Being an employee benefit and insurance expert, he got inspired to create a platform, which could serve for different employee benefits. 

Yogesh and his co-founder Kulin had worked together for an insurance company earlier, and they both came together to build Onsurity. 

Kulin previously worked with several prominent startups where he built digital payments and insurance technology solution. However, he always had a strong desire to build technology and solutions for startups, SMEs, and emerging business. 

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The healthcare package

“The word comprehensive healthcare and employee benefits is synonymous with Onsurity, as our USP is to provide different employee benefits on a single platform. Onsurity truly understands the needs of emerging businesses and has developed a product with the mission to solve issues relevant to SMEs,” says Yogesh.

The startup provides a healthcare membership to the employees and team members of emerging businesses and SMEs. For the membership provided, Onsurity collects a defined subscription fee which becomes the revenue for Onsurity.

Onsurity’s employee health benefits package includes medicine orders, diagnostics, teleconsultation, fitness rewards, and much more at a monthly subscription model starting at Rs 49 per employee.

According to the founders, Onsurity’s monthly membership subscription programme - TeamSure - conserves the working capital for SMEs and makes it affordable. 

Onsurity considers startups like Practo and DocsApp as its competitors. However, the startup says its digital onboarding, zero paperwork, zero legal hassles, instant quote, and issuance of healthcare membership card are some of the benefits, which are currently not available even to large enterprises.  

Yogesh adds, “We are providing healthcare membership to emerging businesses who struggle to source affordable employee healthcare benefits. Since May 2020, we have over 100 MSMEs or startup partners who have enrolled their teams with Onsurity.”

The team’s vision is to create simplified healthcare products for those with limited access to them. In the coming years, the startup hopes to be the first choice for employers when thinking of ‘employee benefits’, and plans to do so with its all-round healthcare technology and reliable or superior customer service.