Kenko Health is looking to help its subscribers save more cash on their regular healthcare expenses. The company plans to reach at least 1 lakh subscribers by the end of this year.
Diabetes is a developing problem in India, according to the World Health Organization (WHO), with an estimated 8.7 percent diabetic population between the ages of 20 and 70.
Other chronic illnesses, such as hypertension and renal ailments, are being fueled by factors such as rapid urbanization, sedentary lifestyles, bad diets, cigarette use, and rising life expectancy.
Aniruddha Sen, an ISB alumni with over a decade of expertise in the insurance industry, identified an opportunity in this high hospital attendance population.
Aniruddha and his chartered accountant co-founder Dhiraj Goel opted to develop Kenko Health, a subscription-based health check-up firm, in 2019 instead of a health insurance startup.
Aniruddha said, “In India, there are two sorts of health problems. Preventive and curative measures. While most people conceive of health care as curative, things have begun to alter as a result of the pandemic’s emergence,”
During the COVID-19 epidemic, there was a greater emphasis on health insurance and adopting preventive measures.
Following workout regimens and eating well become the new normal. In order to grab the market, numerous heritage and new-age firms increased their efforts to produce immunity-boosting products.
Aniruddha says, “People are searching for preventive measures, which is where we come in. We fund healthcare in a non-insurance manner. For example, if a person has some minor healthcare bills, we’ve discovered a method to fund them in the form of a subscription service.”
The Bengaluru-based health insurtech business, founded under the name Redkenko Health Tech Pvt Ltd, provides monthly membership options priced between Rs 299 and Rs 1,999. Kenko Health’s 30-day period plans seek to help clients save more on their normal healthcare bills incurred outside of the hospital, which burn large holes in the purses of typical, middle-class households.
The insure-tech business provides a 20-90 percent reduction on the whole payment, including medical, consultation, and diagnostic expenses, for its outpatient department (OPD) services. Select plans also provide savings on dental and mental health treatments.
In reality, to provide savings to its consumers, Kenko Health has joined with online pharmacy Tata 1MG and diagnostic service Thyrocare. The firm runs a screening exam for potential consumers with no waiting time for accessing its services.
Kenko Health employs a staff of 350 people. It now has 70,000 clients from cities such as Mumbai, Delhi, Bengaluru, Hyderabad, Lucknow, Kolkata, and Nagpur, among others.
The company intends to attract one lakh users by the end of fiscal year 2022-23. Dental treatment and mental health consultations are also being included to the company’s subscription options.