Bengaluru, January 24, 2022: Plum, an employee health insurance platform, today announced it has won the NASSCOM Emerge 50 Award 2021 in the Fintech category. NASSCOM Emerge 50 is India’s most prestigious and prominent award in the software products industry. It recognises the most innovative and emerging software product companies that will be the trendsetters of tomorrow. Plum was also recognised and honoured by NASSCOM with the India Fintech Award 2020.
Every year, the National Association of Software and Services Companies (NASSCOM) evaluates 700+ startups in the country and after considerable assessment, shortlists 50 of the most promising companies under various categories such as Fintech, Health Tech, Retail Tech, Logistics and Supply Chain, SaaS, Enterprise, Bharat, IoT Hardware and devices, Strategic Sector and Cybersecurity.
The NASSCOM Emerge 50 Awards 2021 were decided by an eminent jury comprising Anil Joshi – Managing Partner, Unicorn India Ventures, Anand Pandey – CISO, GSTN, Aniketh MJ – Associate Vice President, Ideaspring Capital, Anuja Shukla – Senior Vice President – Cloud and Advanced Technologies, Bank of America, Anup Jain – Managing Partner, Orios Venture Partners, Amey Mashelkar – Head, JioGenNext, Amol Warange – Director, Omidyar Network India, Alok Mittal – Co-founder and CEO, Indifi, Alok Bardiya – Head – IoT BU Tata Communications, and Aditi Gupta – Principal, Asha Impact.
Plum’s recognition in the Fintech category as one of the fastest growing Insurtech startups is testimony to the innovation in an industry that was untouched for several decades. It recognises the simplicity and technology advancements the company has brought into a category that was known to be opaque and complex. Group Health Insurance (GHI) has received tailwinds due to the pandemic and that has also given impetus to Plum’s mission of insuring 10 million people by 2024, and then the rest of the country.
Plum’s Co-founder and CEO Abhishek Poddar said, “The NASSCOM Emerge 50 Award is a moment of pride for Plum and our entire team. Being recognised for our contribution to the industry is humbling, and we are just getting started. I would also like to congratulate all the winners of the NASSCOM Emerge 50 Award. Plum is reimagining health insurance. Healthcare costs in India are rising making health insurance an essential need. Plum helps you get high-quality insurance sponsored by your employer. We are continuously pushing the envelope to launch new products and services in health insurance – like our recent launch of Plum Lite for SMEs and startups, new covers for LGBTQ, sex-change surgery, mental illness OPDs, IVF and dependent siblings.”
Ramkumar Narayanan, Chair – NASSCOM Product Council and MD & VP Technology – VMware India said, “The Indian product industry is setting new benchmarks as an innovation partner in the digital transformation journey, globally. Startups are utilising deep tech in delivering world class solutions and experiences thus driving success for their customers. Emerge 50 has in the last 12 years successfully identified most promising champions of the future and we are glad to include Plum in the top 50 emerging software product startups of 2021.”
Plum Co-founder and CTO Saurabh Arora said, “We are continuously questioning industry norms and since tedious claims are a pain point in the overall industry, our claims settlement happens on WhatsApp and has a customer rating of 79. The claims settlement itself takes less than five minutes. The platform enables real-time pricing to enable companies to buy insurance in three clicks. It also offers employees a hassle-free claims experience through an integrated digital process. Until a few years ago, this was unimaginable in insurance.”
Plum, with its product-led innovations, aims to accelerate the pace of health insurance adoption in India and encourage all businesses to think about employees’ health-first.
