Employee Healthcare Benefits Provider Onsurity Serves One Million Lives across 5,000 Businesses within 3 years
Onsurity, India’s first monthly subscription-led employee healthcare benefits provider with a strong commitment to making sustainable impact, announced on Monday that it has served over 10,00,000 members on its platform across 5,000+ businesses. The company became the fastest new-age insurtech to touch a million lives within 3 years of onboarding its first customer.
Founded in February 2020, Onsurity has made remarkable strides, leaving its footprint across 26 Indian states and 3 union territories. The company serves the largest customer base in Karnataka and Maharashtra, with subsequent strongholds in Delhi NCR, Uttar Pradesh, and Telangana.
Onsurity’s rapid growth and extensive reach can be attributed to its unwavering commitment to revolutionise employee healthcare benefits. By offering top-tier healthcare and wellness solutions, the company has positively impacted the lives of a vast number of India’s working class, benefiting both employees and employers alike.
Over the last 18 months, the company recorded over 80,000+ wellness transactions on its Super App.
Onsurity’s distinctive monthly subscription plans have been instrumental in enabling businesses to save INR 23.72 crores on working capital costs over the past 3 years. These savings, which would have otherwise been spent on one-time annual payments for employee healthcare benefits, have empowered SMEs to invest the same capital in their businesses, fostering a balance between growth and employee well-being.
Commenting on the milestone, Mr. Yogesh Agarwal, Founder and CEO, Onsurity said, “Our journey to 1 million lives has been truly rewarding and surreal. For the longest time, India’s SME sector struggled with access to quality healthcare and our endeavour over the last 3 years has been to solve for this by providing comprehensive healthcare and wellness solutions. Today, we have expanded our reach in a way that has helped us stick to our mission of creating sustainable impact and make healthcare truly inclusive. Having said that, the journey to a healthier and happier India has just begun.”
With a focus on democratising healthcare for India’s missing middle, Onsurity has served companies with lean teams of 3 as well as enterprises that have over 1,000 employees. From covering business executives and start-up employees to gig workers and their dependents, the company boasts of a diverse and inclusive member base. Over 50% of Onsurity’s member base currently consists of blue collared workers and nearly 40% come from tier II and tier III cities.
The company is now developing a tech-driven platform to provide an all-encompassing suite of products aimed at safeguarding SME businesses from a diverse array of unforeseen financial risks, in addition to further strengthening its health and wellness offerings.