Transforming Corporate Health Insurance with a Vision
Nova Benefits, a pioneering employee wellness platform, is on a mission to bring positive change to the realm of corporate health insurance. With an ambitious goal of providing coverage to 10 million lives in India by 2025, Nova is poised to redefine workplace well-being by offering comprehensive and affordable healthcare solutions to companies of all sizes.
Navigating the Landscape of Employee Wellness
Since its inception in 2020, Nova Benefits has been dedicated to addressing the evolving needs of employers seeking reliable health insurance options. The platform harnesses technology to help companies tailor employee wellness packages, encompassing essential components such as health insurance, mental health counseling, fitness subscriptions, doctor consultations, and well-being sessions.
Empowering Companies for a Healthier Future
The ongoing pandemic has underscored the significance of health and well-being in workplaces. Saransh Garg, CEO & co-founder of Nova Benefits, emphasizes the company’s commitment, stating, “Covering 10 million lives by 2025 aligns with our mission of creating healthier and happier workplaces. A holistic health cover, along with compassionate policies, benefits not just employees, but also the long-term success of companies.”
Crafting Wellness-Centric Workplaces
Nova Benefits collaborates with small and medium-sized businesses (SMBs), mid-market enterprises, and larger corporations. By partnering with distribution networks and recruitment platforms, Nova ensures seamless and high-quality employee benefits. The company’s roster includes over 200 firms, including notable names like Relevel, AngelList, and RazorPay.
Revolutionizing Claims Process and Enriching Employee Experience
In its pursuit of enhancing the employee health insurance claims process, Nova Benefits continually develops strategies to streamline the insurance landscape. The introduction of a 24×7 helpline is just one step towards simplifying insurance-related concerns, ultimately providing employees and companies with a smoother and more transparent experience.
Along with offering a superior claims experience, Nova Benefit provides companies with tools and a self-serve employee portal to ensure smooth HR workflow. Additionally, employees get access to bespoke wellness webinars, community sessions hosted by industry experts and special delight packages for maternity and child care. OPD or Out Patient Department cover is a new feature offered as part of health insurance policies by Nova Benefits.
In September 2021, Nova Benefits raised $10 million in its Series A funding round backed by Bessemer Venture Partners and SIG. Nova Benefits also became the first investment of AngelList Early-Stage Quant Fund in India. The fund counts AngelList founder Naval Ravikant as a Limited Partner (LP). As of now, 250+ companies have been insured with Nova Benefits, with 100,000+ members covered, and 3000+ claims processed. Some of the companies that have insured with Nova include Snapdeal, Pharmeasy, Mygate, CoinDCX, Chumbak, HomeLane, and Zenoti, among others.
