Page 18 - The Insurance Times November 2024

Ò»©­

audience, i.e. healthcare administ-
Atal Pension Yojana Subscriber Base Reaches 69
rators across hospitals.
Million Speaking about the fundraise,

About 7 crore people have subscribed to the Atal Pension Yojana (APY) Sabarinath U and Abhi Sinha, co-
whose corpus has swelled to Rs 35,149 crore, Finance Minister Nirmala founders of Healspan said, "We are
Sitharaman said. elated to announce Healspan's seed
APY is a low-cost pension scheme that offers a guaranteed minimum pension fundraise - which is a testament to our
of Rs 1,000-5,000 per month from the age of 60 years onwards (depending growing credibility and growth focus.
on the contributions by the subscribers). The capital raised through this seed
round comes just at the right time,
In case of death of the subscriber, the same pension will be provided to the when we've already started riding upon
spouse till he/she is alive. In the event of death of both the subscriber and
the fast-track growth curve, and are
the spouse, the entire corpus is given to the nominee.
attempting to grow exponentially in
"Since its inception in 2015, 6.90 crore people have subscribed to the Atal the months and years to come.
Pension Yojana and a corpus worth Rs 35,149 crore has been accumulated," Besides fostering Healspan's growth, a
Sitharaman said at an event to launch the NPS Vatsalya scheme.
significant portion of these funds would
be invested towards acquiring talent
Insurtech Startup Healspan chief investment officer of a GCC based for building a robust sales team,
Investments firm, Srijith Nair (founder
Secures Funding from Lead & CEO, Gowelnext Solutions); and The launching our new line of products and
Angels and Others Doctorpreneur Academy. Prior to this, tech innovations, expanding our
hospitals' network, and capturing a
Bengaluru-based insurance-tech Healspan had closed a pre-seed funding greater market share. As Healspan
startup Healspan - provider of a round of Rs. 1.2 crore last year. continues to take significant strides in
disruptive revenue cycle management Healspan will be utilizing the fresh disrupting the health-insurtech market,
software enabling hospitals to capital raised through this seed round we will be focusing on these strategic
seamlessly manage all key aspects majorly towards bolstering its aspects in the near future, in lines with
relating to their health insurance marketing and sales, and growth. our mission and vision of streamlining
claims settlement and revenue Additionally, the funds will play an health insurance claims and making
enhancement - has raised an instrumental role in enabling Healspan healthcare administration effortless
undisclosed amount of seed funding led to maintain its continued focus on and simplified in the long run."
by financial services and angel engineering and tech, and aid them in
investing network Lead Angels. The bringing to the fore innovative tech- Bandhan Life to Partner
round also witnessed participation enabled solutions for solving various
from several other angel investors like pain points and/or operational with Banks for Expansion
Ankitt Jain (founder, Paper Arizona); challenges faced by its core target Bandhan Life Insurance plans to join

16 November 2024 The Insurance Times