How is your business helping to solve the health, social, or economic challenges created by COVID19?
There are two immediate challenges that we address. The first is to mitigate the significant CoVID-19 treatment costs through our health and CoVID-19 insurances. These costs range between US$ 1500 and US$ 10,000 per case and unaffordable to most. The second challenge is to make sure that SMEs are properly insured even when they have to shut down operations. We do this by collaborating with insurers to waive off regular warranties and cover all the various act of god risks. We have more work to do because, in India, Business Interruption due to CoVID-19 is excluded but we will take that up as soon as practical.
Does your business contribute most to recovery, response, or resilience?
Response - we're responding directly to issues caused or exacerbated by the COVID-19 outbreak.
What is the stage of your product development?
I have a market ready product/service. I have sold to customers.
What strengths does your team bring? Include skills and personal experience with the problem.
We have deep experience in working with insurance and with small companies. Within our team we have experts in insurance products, claims, digital distribution and regulation. We have insured over 20,000 clients so far and this is rapidly increasing. In terms of education our team consists of engineers, chartered accountants, MBAs and humanities graduates. Previous companies that the team has worked in include McKinsey, Unilever, Prudential and Nokia.
What countries do you operate in?
INDIA
Is your company headquartered in a US "Opportunity Zone"?
No
