Right now, people are inevitably thinking more about their health and prioritising how they look after themselves and their families. The result is that interest in private medical insurance is actually rising – which at a time when many are facing financial hardship, is pretty remarkable.” Matthew Reed, Managing Director at Equipsme, explains.
The surge of interest in this frame of the PMI market, has resulted in Insuretech start-up, Equipsme, reaching over £700,000 in crowdfunding, through CrowdCube, beating their initial target of £500,000. The company has attracted over 500 investors in their fundraising campaign.
“Traditionally private medical insurance has been for big executives in big businesses, or via a cash plan scheme which requires staff to shell out and be reimbursed. At Equipsme we think healthcare plans can work for any size of business and any employee, without the upfront payments, the jargon, or the complications. It’s our aim to make it both practical and affordable, which is why our basic plans start at just £7 per person per month.” Concluded Matthew Reed.
Equipsme falls into the fast-growing space of employee benefits, where organisations and HR practitioners are encouraged to offer free benefits, perks and discounts to their staff to boost motivation and employee retention.
To find out more click here plans from Equipsme,
Meanwhile, Fellow insure-tech start-up, Yu Life, announced a launch of their new site this month. Yu Life previously raised £10 million through Creandum Funds, who have also previously backed Spotify, iZettle and depop. YuLife new product launch includes HR support, will writing and mental health support (EAP) – to offer a full circle of employee benefits.
To find out more click here YuLife offer a life insurance plan for employees,
This rising interest in fundraising in this PMI space coincides with Equipsme reporting “a doubling of interest for private healthcare” as a result of covid-19.