Insurtech startup Plum commits Rs 200 crore to expand healthcare vertical

Title: Plum Allocates Rs 200 Crore to Enhance Healthcare Services

Plum, an emerging player in the insurtech space, has announced a significant investment of Rs 200 crore aimed at expanding its healthcare vertical. This initiative marks a shift from traditional group insurance to a broader focus on preventive and digital health services.

Investment Focus Areas

The funds will be directed toward several key areas:

• Talent Acquisition: Plum is looking to bring in experts who can drive its healthcare initiatives.
• Technology Infrastructure: Upgrading tech systems will be crucial for improved service delivery.
• Partnerships: Collaborations with other organizations will help strengthen Plum's healthcare offerings.

Future Goals

By 2024, Plum aims to facilitate over 100,000 teleconsultations, reflecting its commitment to making healthcare more accessible. This service expansion is significant, as it intends to contribute 30–40% to the company's future B2B revenue streams.

Potential Impacts

This investment could have a substantial effect not only on Plum’s business model but also on the broader healthcare landscape. By emphasizing preventive care and digital health, Plum may set new standards for the insurtech industry while enhancing customer experience.

As Plum continues to innovate, the focus on digital health services reflects a growing trend within the insurance sector. Other companies may look to follow suit, particularly as businesses increasingly value preventive healthcare solutions.

Original Source: Economic Times