Plum Benefits Pvt. Ltd – Insurtech Innovation Award 2024

1. Helping companies care better
Confidential. Please do not share. © Plum Benefits Pvt Ltd
www.plumhq.com

2. Source: World Bank, healthdata.org, BCG Health Insurance Vision 2025
Life expectancy is growing;
will be 75+ by 2040
Medical inflation is high (2.3x
CPI)
Non-communicable / lifestyle
diseases are on the rise
The Landscape: Health insurance is changing from
being a luxury to a necessity

3. We are building the most trusted & loved
insurance & healthcare provider for people
and companies in the world, enabling:
1. Increased accessibility to
insurance (>75% first-time buyers)
2. 100% paperless & digital insurance
3. Best-in-class, preventive health
through Plum Telehealth (>91 NPS)
4. Comprehensive suite of insurance
products for both businesses and
employees
Group Insurance
Health Insurance
Accident & Disability
Life Insurance
Personal Insurance
Health Insurance Top-Up
Term Life Insurance
Health & Wellness
Telehealth
Mental Health & EAP
Partner Benefits
Wellness Sessions
Business Insurance
Directors & Officers Insurance
General Liability Insurance
Errors & Omissions Insurance
Cyber Liability Insurance
Employee Dishonesty Insurance
Asset Protection Insurance
Confidential. Please do not share.
Enter Plum aims to build the most trusted and loved insurance & healthcare
provider for people and companies.

4. 1. Reach restricted to larger
corporates because
brokers are unable to
scale to SMEs
2. Misaligned incentives,
leading to frauds, leading
to losses
3. No feedback for new
product development to
expand the market
1. Difficult to understand
the insurance benefits
due to long policy
documents
2. Complicated & archaic
claims process
3. Health benefits limited to
just insurance
Problems users have and how is Plum solving for them?
1. Not able to find the right
product fit
2. Extensive manual effort
throughout and poor HR
& customer experience
3. Rising healthcare costs
leading to ~20% YoY
increase in premiums
Employees Insurers
Employers
Plum aims to simplify insurance and enhance the experience for employers, employees and
insurers - all of whom are key stakeholders in the group insurance ecosystem. Each of them
have been facing broken experiences before Plum. Here is how:

5. Simplified access to insurance for employees
Key features
1. Simplified access though multiple platforms
and login systems
2. Coverage explained in simple language
3. Flexible enrolments: employees can choose
their own customizations
What have we achieved
1. Active lives: ~500,000
2. 1L + app downloads across App Store and
Play Store
3. 4.7 stars on Play Store and 4.5 stars on App
Store

6. Key Features
1. Product-led, human-assisted claims journey
2. Digital claims initiation and payment
3. Real time claims tracking
4. 24/7 claims & emergency support
What have we
achieved
Fastest & smoothest claims experience
1. 40% digitization of claims (no forms printed,
no physical docs)
2. 7 days end-to-end claims TATA
3. 80+ NPSB
Note: A. Reimbursement Claim, B. Cashless Claim

7. Automated, paper-less administration for HRs
Key Features
What have we achieved
Automated, paper-less administration for HRs
1. Automated complex workflows for handling
insurance endorsements (modifications)
2. Increased transparency and ease in
financial reporting of insurance accounts
with auto-generated ledger & statements
3. Claims report with real-time incidence,
utilisation and analytics
1. End-to-end workflow automation with tier 1
insurance players
2. 80% endorsements have a TAT of 8 days
3. HRMS integrations with top providers
(Darwinbox, Keka, ZingHR)

8. Key Features
What have we achieved
Plum Telehealth
1. Instant access to high-quality virtual
healthcare from our in-house doctors
2. Book, cancel and reschedule appointments in
seconds
3. End to end primary care
a. 24x7 general physician
b. 20+ specialities
c. 10-mins doctor availability
1. 60,000+ consults done
2. 75+ Doctors
3. NPS of 91

9. ● Easy addition of new
employees
● No follow-ups with insurers
or brokers for Health ID
issuance
● Timely email notification on
Health ID generation
New employees now get Health IDs with Employee IDs on Day 1 🎉
Admins / HR Teams Employees
Case Study
● Insurance coverage from
Day 1
● Health IDs within 4 hours of
employee addition to the
policy
● Fully digital and effortless
cashless claims experience
We are tech first and paperless with 100% seamless integration. This is an industry-
first. No other insurtech has been able to work with insurers and get their APIs to build
this experience.

10. FlexCare: Modular insurance plan which allows
you to choose your benefits
We’ve pioneered multiple innovative tech products…
PolicyGPT: AI-powered customer assistant
to help you understand your policy better
End-to-end Integrations with Insurers:
Industry-leading TATs for claims & more
TeleHealth: Leading in-app doctor consultation
with 90+ CSAT scores
Confidential. Please do not share.
Claims Buddy: System tagging of users
to the same support person with context
Claims Lens: AI-powered document
verification to reduce claims filing errors
Auto-enrolment: Employee invite flow with
reminders & reports to reduce admin effort
inDependent login: Individual access to
the Plum app for employees’ dependents
And 10+ other industry-first features…

11. Purpose-led
team with
the right mix
of passion
and skills,
and backed
by marquee
global
investors
Abhishek Poddar
CEO & Co-founder
Ex-Google, McKinsey
Saurabh Arora
CTO & Co-founder
Ex-Freshworks
Debankur Biswas
Head - Claims & Support
Ex-BIMA
Seed: $4mn
(2020)
Series A: $15.6mn
(2021)
Today we have a team of 300+ employees serving 4000+
Customers

12. 4000+
Businesses Covered
26 Unicorns | 2000+ SMEs | Pan-
India
5 Lac+
Lives Covered
1 Lac+ Mobile App Users
3x
YoY Cx Growth
with claims NPS consistent at 79
(highest claims NPS in the industry)
$5m+
ARR