Plum has also made it possible to benefit from this membership through monthly subscriptions; this ensures that seeded companies do not have to lock in a large annual investment.
Plum, an employee health insurance platform, today announced the launch of Plum-Lite – comprehensive group health insurance membership exclusively for start-ups, SMEs and workers / independent consultants. Membership will offer new age health insurance coverage, medical consultations and Covid19 treatment coverage for businesses with teams as small as two members and for a premium starting at Rs. 85 per month.
For any start-up, thinking about the health benefits from day one is a challenge due to accessibility, affordability, and usability. Current employee health plans were only available for large teams requiring a minimum of 10 members. With the new Plum Health Benefits enrollment, seeded teams starting with only two members can be covered. The price from Rs. 85 (per member / per month) is less than a meal or a single medical consultation. Plum has also made it possible to benefit from this membership through monthly subscriptions; this ensures that seeded companies do not have to lock in a large annual investment.
Membership covers, health insurance up to Rs 5 lakhs, unlimited medical consultations, weekly wellness sessions, dental and visual exams, mental wellness consultations and Covid19 treatment requests. It also covers employees, spouse and children and has no human touch point leading to instant activation.
When launching Plum-Lite, Plum’s new health benefits membership, Abhishek Poddar, Co-Founder and CEO of Plum, said: âPlum’s mission is to make health benefits and comprehensive employer-employee insurance. accessible to the most underserved segments. Our first launch in this space is aimed at early stage startups, SMEs and freelance workers / consultants. We aim to create well-being behavior in workplaces that care about you. In addition, this launch also meets Plum’s goal of securing 10 million lives by 2024, as we strive to ensure that no one remains uninsured / underinsured due to cost or lack of access.
Insurance penetration among the 6.3 million SMEs and 15 million gig workers in India is extremely low despite their significant contribution to the growth of the Indian economy. The launch of Plum-Lite reiterates Plum’s commitment to increase the penetration of health insurance among early stage startups, SMEs and independent workers / consultants.
Plum recently partnered with Razorpay Rize to offer exclusive group health benefits to early stage startup founders and aims to cover more than a lakh of new businesses and entrepreneurs. Plum has strong roots in the fast growing startup ecosystem in India and currently works with over 1,000 startups, including unicorns like Unacademy, Slice, and Groww who think insurance first. The company is backed by Tiger and Sequoia.