Yogesh Agarwal, Founder, Onsurity explains the traction gained by TeamSure during the pandemic
What are the products and services under the Onsurity portfolio currently?
Onsurity as a brand believes in providing solutions that are simple to understand, easy to operate and power-packed with employee benefits. We aim at making healthcare affordable and accessible to all. This gave birth to TeamSure, a product that is targeted towards MSMEs who are aiming at taking care of their employees’ health and well-being. Currently our TeamSure product offers the following service as a bundled membership package that any SME (employer) can purchase for their permanent and contractual employees.
- Tele Consulting
- Discounted Medicine
- Discount health check-up and lab test
- Fitness Rewards
- Group health insurance from a Tier 1 Health Insurance Company
Further, we are enabling the employees to purchase similar membership for their family members. Our membership fees are paid on a monthly basis, which makes the overall health and personal finance care more affordable and accessible in one place.
What are the business model and the operating models for TeamSure?
The business model for Teamsure is straightforward i.e. bring services which are relevant to MSMEs and their employees but which the traditional players do not offer to them or their product or services are not available for the MSME.
Before TeamSure, there were no insurance companies and wellness providers who were providing their service to the MSMEs and their employees at an affordable price. So, the operating model of TeamSure is to target this entire white space and use the technology to make the overall service accessible and of a superior quality. Considering the demographics of our customer base, we are investing in the technology and in our service capability to offer complete assistance to our customers in the time of their need and in a health crisis like situation.
How has TeamSure benefited MSMEs especially during the COVID19 scenario?
As the world is grappling with the darkness of COVID-19, TeamSure has been trying to be a ray of light for the MSMEs who are badly hit during this testing time. Here, the MSMEs are getting an opportunity to showcase their pillars of strength that they care for them during this really difficult time. Where the companies are laying off people, there are many MSMEs who are holding on to their employees and giving them a token of appreciation in the form of TeamSure.
With features like Group Health Insurance with COVID-19 cover, health check-ups, medicine orders, fitness rewards, the employees’ health will be in check and if there is any unfortunate circumstance of coronavirus, the employee’s health is taken care of.
What has been the traction for TeamSure till date? What are the use cases so far?
TeamSure was launched amidst the pandemic I.e. in May, since then we have successfully onboarded more than 50 MSMEs.
The product is designed in such a way that our customers find it extremely easy to use. It is so simplified that the employees can onboard themselves without any complications.
For an employer, he/she can easily enroll themselves in 2 mins digitally, due to the feature of a monthly subscription, the employer does not have blockages in the working capital, there are no legal hassles and zero paperwork. The employer is spoilt for choice as he can choose from an assortment of membership plans that deems fit for the employees.
The employees can enjoy benefits like discounts on medicine orders and health check-ups, teleconsultations with a doctor, fitness rewards and Group Health Insurance with COVID-19 cover. The employee can also upgrade the plan and add family members. And the best part is, TeamSure will be with the employee even after he/she exits from the company.
How has Onsurity been leveraging on technologies like AI and analytics?
Onsurity relies heavily on its data and analytics to make it a data-driven company – from sales and marketing to understanding user behavior. Onsurity utilizes user behavior data such as fitness and use of its services by customers to create customer profiles and risk profiles for each customer to better understand the risk associated with them.
Onsurity uses proprietary Machine Learning algorithms to understand user behavior and provides more customized offerings to their customers.
Having started only in 2020 how has Onsurity coped with disruption of business in the pandemic situation?
The unexpected occurrence of the pandemic surely put us in a difficult spot, but being a nascent company, we knew that we could not let this affect us. The large chunk of our employees was hired during the pandemic and with the rising number of strong employees, we definitely knew that nothing could stop us now.
Our innovative ideas with regards to designing the app to be perfect and making sure each and every sale happens through a contactless approach, we have definitely kept on moving forward. And with all this, the results have been amazing.
What are your key focus areas and business roadmap for the next 18-24 months?
Our key focus area is to make sure TeamSure reaches each and every part of the country and employers get a chance to showcase their appreciation towards their employees through Onsurity.
In the coming year or two, Onsurity is planning to launch many more products that are affordable, simple and effective.