Kotak Mahindra General Insurance Co. Ltd. (Kotak General Insurance) announced the launch of its unique Sandbox initiative based on the essentials of preventive healthcare ecosystem. In association with healthcare start-up GOQii Technologies Private Limited (GOQii), Kotak General Insurance will offer wearable fitness trackers to its existing and new health insurance customers to help monitor their mobility and fitness pattern.
The fitness tracker will constantly measure the customers’ vitals like step count, quality of sleep, etc., and help them maintain / work towards a healthy lifestyle. GOQii will bring in its expertise and assist customers by offering personal coaches, experts and doctors to help them track their fitness levels.
Mahesh Balasubramanian, MD & CEO, Kotak Mahindra General Insurance Company Ltd., said, “By building enduring relationships with our customers, we endeavour to improve their health and wellness. While we at Kotak General Insurance put a lot of emphasis on speedy claims settlement, we would like to now invest in our customers’ wellbeing so that we can prevent them from having life style diseases. As a part of this initiative, we are offering wearables to our customers that will encourage a healthy lifestyle.”
In August 2019, Insurance Regulatory and Development Authority of India (IRDAI) introduced the IRDAI (Regulatory Sandbox) Regulations, 2019 to promote and facilitate innovation in the insurance sector to increase insurance penetration in India. The approved ideas, across the sector, are available to customers on a trial basis from 1st February, 2020 to 31st July, 2020.