Loop Health has signed a Memorandum of Understanding (MoU) with the Marathwada Mitra Mandal’s IMERT’s (Institute of Management Education, Research and Training) Incubation Centre in Pune to provide health insurance to rising entrepreneurs.
The Memorandum of Understanding is aligned with Loop Health’s commitment to nurturing the next generation of young entrepreneurs at various stages of startup incubation by providing them with healthcare, which will allow entrepreneurs to focus entirely on growing their business. Loop Health will provide the startups with unlimited primary care services and wellness benefits through their group health insurance policy. Healthcare benefits provided by Loop will include – Mediclaim for Employees, Accident Policy, Hospitalization Coverage, Pre and Post Hospitalization, Maternity cost, Loop Health membership for unlimited OPD consultations, a medical advisor for each employee, yoga and mental health sessions and discounts on labs and medicines.
The Center for Invention, Innovation, and Incubation (MMCIII) is a joint collaboration of Tata Technologies (TTL), Science And Technology Park (STP) in Pune, and Marathwada Mitra Mandal. MMCIII is designed as a complete startup ecosystem that helps promote nascent technology startups and entrepreneurs in developing new products. MMCIII’s co-working space encourages collaboration and their accelerator programs and funding arm give early stage startups in India a head start. The supportive community at MMCIII and access to renowned businesses and startups results in knowledge sharing and industry networking.
IMERT Director Dr Jitendra Bhandari said “As part of our startup support programme, IMERT is committed to offering the greatest infrastructure and incubation facilities to aspiring entrepreneurs. We establish an ecosystem to help students acquire entrepreneurial skills and advance their careers. We are thrilled to be collaborating with Loop Health to provide health insurance to all aspiring entrepreneurs and startups.”
Founded in 2018, Loop Health is a new age healthcare provider in India that combines high-quality primary care and insurance for employers. The startup enables businesses to help their employees get better healthcare services by providing members with access to preventative care and a team of doctors at any time, through its mobile app.
Loop Health Founder and CEO Mayank Kale said, “It is our privilege to collaborate with IMERT to give health insurance to India’s future entrepreneurs – who are defined by an exponential view of the future. We are committed to empowering founders to scale and to take more risks without worrying about the health risks for themselves and their employees. This partnership is a step towards making an impact in the startup ecosystem and will help young entrepreneurs with innovative ideas set up their new business.”
About Loop Health
Loop Health was founded in 2018 to revolutionise the way health insurance coverage works. Currently, the company offers group health insurance plans from well-known insurers to businesses ranging from startups to large enterprises, together with a virtual primary care experience provided by an in-house medical team and a network of other service providers. Unlike other insurance brokers, we assure that members have access to high-quality preventive health care as an add-on benefit, rather than using the policy/product just when they need it, such as during a hospitalisation, medical procedure, or a claim. Organisations that have subscribed to Loop Health’s solutions include GE, Helpshift, Shoptimise, Weikfield and MSwipe.
Loop Health is backed by investors such as General Catalyst and Elevation Capital, Khosla Ventures, YC Continuity Fund, Tribe Capital and Sierra Ventures.