Onsurity
“Can a monthly-subscription model unlock employee healthcare for India's 63M underserved MSMEs?”
Founded2020
HQBengaluru, Karnataka, India
Total raised$40M
Latest roundSeries B, 2023
IndustryFintech / Insurtech
The story
Onsurity was founded in 2020 to democratize employee healthcare for Indian MSMEs and startups via a monthly pay-as-you-go subscription model — a departure from the annual lump-sum group health policies traditional Indian insurers offer. The company now bundles health, life, accident, doctor consultations, pharmacy and diagnostics discounts into a single 'TeamSure' monthly membership distributed through its own IRDAI-licensed entity ASIPL. The strategic positioning has broadened from a single insurance product to a 'Workforce Basics OS' covering business insurance (D&O, CGL, cyber) alongside core employee healthcare.
Last 12 months
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Product timeline
2020
Onsurity Technologies Private Limited founded in Bengaluru to offer monthly-subscription employee healthcare to Indian SMEs/MSMEs/startups.· pivot
2021
Raised $16M Series A funding.· funding
2023
Raised $24M Series B led by World Bank's IFC, bringing total to $40M.· funding
Regulated entities
1
regulatory licence held by Onsurity
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
0 layers disclosed in Onsurity’s embedded-finance stack
Accounting gap: none