Decoding insurtechs’ big bet on wellness

Before Covid-19, Ekincare founder Kiran Kalakuntla’s fundraising pitch often ran into a typical line of questioning from investors unconvinced about business opportunities for startups in corporate health insurance and wellness. Who spends on employee health in India, they would go. The query hasn’t aged well because the answer today is almost everyone.

The pandemic, now in its third year, has hammered home the point that companies must give closer attention to their workers’ overall well-being. Providing bare-bones coverage for hospitalisation and circulating feel-good emails with lifestyle hacks won’t cut it anymore. 

Organisations, from business houses to young tech ventures, are consequently shopping for a group insurance package which includes check-ups, fitness programmes and mental-health counselling besides a medical policy with a higher billing limit. Essentially, a wellness product that covers more than it leaves out.