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Plum Insurance Reviews

Bengaluru, Karnataka

4.5/ 5

2 reviews

Plum Insurance, legally operating as Plum Benefits Insurance Brokers Private Limited, is a prominent digital-first insurtech company and healthcare platform headquartered in Bengaluru, Karnataka. Founded in 2019 by Abhishek Poddar and Saurabh Arora, the company was established to address long-standing inefficiencies, complexities, and opacity in India's corporate healthcare landscape. Operating on a B2B2C model, Plum acts as a comprehensive employee health benefits and group insurance provider, streamlining how businesses design, manage, and optimize wellness programs for their workforces. The core operations of Plum are centered around a unified digital platform that integrates group insurance policies with holistic corporate healthcare services. In its insurance vertical, the company offers tailored products including Group Health Insurance, Group Term Life Insurance, and Group Personal Accident Insurance. To provide comprehensive safety nets, Plum also allows employers or employees to purchase Super Top-Up plans. Its insurance plans are highly inclusive, extending coverage to nuclear and extended family members, including parents, spouses, children, in-laws, and LGBTQ+ partners. Beyond traditional insurance brokerage, Plum has transformed into a complete healthcare ecosystem by embedding telehealth and wellness programs directly into its platform. Through its integrated digital dashboard, employees gain 24/7 access to paperless claims processing, personal doctor assistance, and virtual consultations with leading medical specialists. The platform also offers health assessments, mental wellness support, and chronic care programs. Additionally, through its lifestyle rewards initiative, Plum Perks, members can access exclusive discounts and wellness benefits from over 50 health, fitness, nutrition, and family care brands across India. From an administrative standpoint, Plum provides human resource and finance teams with scalable tools, real-time claims tracking analytics, and automated onboarding systems. The platform utilizes advanced APIs to integrate seamlessly with various human resource information systems and payroll tools, drastically reducing corporate administrative burdens. Propelled by automation, Plum reports that nearly 78% of its insurance claims are resolved without human intervention, significantly reducing turnaround times and simplifying the hospital discharge process. Financially, Plum is a venture-backed private entity that has scaled rapidly within India's tech corridor. In March 2026, the company secured 193 crore INR (approximately 20.5 million USD) in a Series B funding round led by Peak XV Partners, alongside participation from Tanglin Venture Partners and GMO VenturePartners. This followed an earlier Series A round led by Tiger Global Management, bringing its total institutional funding to over 41 million USD. Having achieved EBITDA and cash flow profitability, Plum serves more than 6,000 organizations, including major Indian enterprises and startups such as Zomato, Swiggy, Meesho, PhonePe, CRED, and Urban Company, covering over 600,000 lives nationwide.