Business News | Eyeing Indian Insurance Market, LivWell Asia Wins Seat to Bag Flipkart’s Venture Investment


Singapore, September 21 (ANI/PRNewswire): Blockchain-powered Insurtech platform LivWell Holdings Company Pte Ltd (LivWell Asia) was just lately chosen as one of many six startups to be part of the accelerator programme, Flipkart Leap Ahead by India’s homegrown e-commerce platform, Flipkart.

In addition to an funding into LivWell, Flipkart Leap Ahead as a part of its program will facilitate mentoring by Flipkart senior leaders.

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“While expediting our vision to set up India’s first blockchain-powered insurance distribution in a bite-size and affordable format within an engaging health and wellness landscape, we are confident in harnessing the power of the health ecosystem and rewarding Indian customers for adopting healthier habits. We aim to use blockchain for claim settlement and securing the activity data of our users,” mentioned Nikhil Verma, Co-founder and CEO of LivWell Asia.

Prior to the funding by Flipkart by means of Flipkart Ventures Fund, LivWell Asia received a number of awards in 2022, together with Insurtech Award with 1337 Ventures and FWD Insurance Alpha Startup Studio which provides entry to funding and a launch pad to enter the Malaysian market.

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LivWell additionally certified for the IFSCA Sandbox earlier this yr that enables activity-based insurance merchandise testing in IFSCA markets comparable to Indonesia.

The model focuses on end-user engagement with the worth of way of life and rewards primarily based Insurtech merchandise. Providing wearable units and holistic companies comparable to health club memberships and diet plans amongst others, the model’s core product, a health app which integrates with wearable good units, engages customers with health challenges together with reserving lessons, after which use exercise information to advocate bite-size insurance insurance policies.

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LivWell Asia just lately launched a pilot programme in Vietnam with embedded insurance smartwatches (LivWell Cosmos) that allow customers unlock protection primarily based on their step rely and different parameters at an reasonably priced worth level. The Insurtech firm may even quickly launch NFTs with the limited-release LivWell Lux Smartwatches in Vietnam as a take a look at run.

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LivWell Asia is a blockchain-powered Insurtech platform providing participating well being, wellness, and insurance merchandise with operations in Vietnam, India, and shortly in Malaysia. Its take a look at market in Vietnam garnered 130,000 lively customers and over 37,000 lives lined within the final two years. The firm has since partnered with Allianz Partners, PVI, Sun Life Insurance, and the most important chain of health facilities in Vietnam, California Fitness and Yoga centres.

This story has been offered by PRNewswire. ANI is not going to be accountable in any manner for the content material on this article. (ANI/PRNewswire)

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