GOQii has tied up with Kotak Mahindra General Insurance Co. Ltd. (KGI) and Kotak Mahindra Life Insurance Co. Ltd. (KLI) for offering health and life insurances respectively to GOQii’s existing and new customers.
Consumers who buy the GOQii Smart Vital 2.0 smart-wearable will be eligible for a health insurance coverage of up to Rs. 5,00,000 depending on the Active Lifestyle and Monthly Health Score, and a life insurance coverage of Rs. 1,00,000. GOQii’s Smart Vital is a Central Drugs Standard Control Organization-registered medical device which is designed to measure its users’ vitals. The aim of the GOQii ecosystem is to reduce individuals’ health risk by guiding them to lead a healthy lifestyle.
The validity of the insurance plan is up to 12 months from the date of activation of the GOQii App, which would require the customer to download the app and follow the signup and activation process. After the expiry of the insurance, the customer can renew it by renewing their GOQii Personal Care subscription directly from the app.
Vishal Gondal, Founder and CEO of GOQii said that GOQii has been a pioneer in bringing evolutionary technologies in the field of preventive healthcare. With its outcome-based health insurance, GOQii is looking at a different approach to fundamental healthcare. It has gathered data regarding the same for over seven years, with a current paid active-user base of over 5 million. GOQii is thrilled to offer insurance to its users over the app, in association with Kotak Mahindra.
According to Mahesh Balasubramanian, MD and CEO at Kotak Mahindra Life Insurance Co. Ltd., Kotak has always emphasized on its customers’ wellbeing and its tie-up with GOQii is a part of its initiative to prioritize health and encourage people to follow a healthy lifestyle. Through the personal wellness plan, customers can view their insurance details in the GOQii App.
Suresh Agarwal, MD and CEO at Kotak Mahindra General Insurance Co. Ltd. Also commented on the collaboration with GOQii saying that the tie-up aims to incentivise customers to maintain good health via good practices, and at the same time, get themselves covered with Kotak’s Health Insurance. It is one of Kotak Group’s many endeavours in co-branding, with smart and beneficial ideas enabled by the advantages of technology.