Insurtech firms such as Bengaluru-based Onsurity and Pune-based Loop Health help employers offer group health policies to their employees and run a platform to offer employee wellness services, too. They want to capitalise on the Insurance Regulatory and Development Authority of India (IRDAI) move of opening the heavily regulated sector to new participants.
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Onsurity, an Indian startup that offers monthly subscription-based insurance solutions to micro, small and medium enterprises, startups and growing Onsurity, the Indian insurtech startup founded in 2020, has raised $24 million in a round led by the World Bank's International Finance Corporation (IFC).