OurHealthMate is reinventing a US$10b industry: every year, 22 million NonResident Indians (NRIs) send $65B back home to India. $10B of it is intended for the healthcare expenses of loved ones. But those funds often fail to benefit the recipients, because the recipients fail to make and keep medical appointments for themselves! OurHealthMate’s web platform restructures those remittances so that funds go directly to the doctor on behalf of the beneficiary, and gives the NRI payer feedback and peace of mind. The result: improved compliance and better health for all.
Business Model Innovation
We arbitrage the fact that the NRIs who send money home often value the health of their loved ones more than they do! The NRIs have a challenging role as heads of household in absentia. This creates the opportunity for a third-party model of health insurance.
As NRI expats and ethnic Indians with families back home, we feel the pain point directly.
- Abhinav Krishna: Computer Engineering, NUS. Worked with several start-ups in Singapore and California, and also on online transactions and data security at CitiBank and Merill Lynch. Specialist in algorithms, now leading business development and stepping up to the CEO role.
- Akash Kumar: PhD from TuE, Netherland and NUS. Worked on online transactions and data security with Merrill Lynch.
- Arpita Singh: NTU. Clinical Liaison Manager. She has helped us sign more than 50 clinics in the last 2 months.
- Parvathy Kailasam: MBA from IIM. She was previously an Associate (Financials and Market Analysis) from Bain Consulting. She is responsible for Finance and Marketing on the patient side.
We partnered with LeoTech, a software development house in Singapore, to build the first version of the product.
StartUp Chile : USD 40,000
LeoTech (software development partner and investor): undisclosed
JFDI.Asia: SGD 25,000