How Onsurity is Rewriting the Rulebook for India’s SME Workforce by Democratizing Health

India is often hailed as one of the world’s fastest growing economies, powered by Small and Medium Enterprises (SMEs). The SMEs drive innovation, generate emoplement (employing over 60 million people), and fuel local economies. As these SMEs continue to power India’s growth, the silent engines that keep the lights on for most of these businesses are the employees, who, for decades, have been given the “second-class citizen” treatment with regards to their health and well-being. 

While most established enterprises and MNCs advanced to offering comprehensive health benefits, gym memberships, and wellness perks to their employees, the average SME employee was left to grapple with rising healthcare costs, one hospital bill away from financial ruin. This gap wasn’t due to the lack of interest from the employers; it was because of the systemic failure of the insurance industry to cater to small teams. The enterprise-grade healthcare was a distant dream for startups and smaller firms. 

Enter Onsurity. Founded in 2020 by Kulin Shah and Yogesh Agarwal, this healthtech platform has dismantled the barriers and has made healthcare more affordable and accessible for all Indian employees. Their mission was simple yet revolutionary: to democratize healthcare for India’s “missing middle”- the SMEs and startup employees, by offering monthly healthcare subscriptions. 

Recently, Kulin Shah, Co-founder of Onsurity, sat down for a candid conversation on PayU’s podcast, “Let’s Talk Scale,” to discuss this journey. His insights offered a masterclass on solving deep-rooted problems with technology and empathy. 

>> You can catch the full insightful conversation on how they are scaling trust alongside technology here. 

Identifying the “Underserved” 

The inception of Onsurity stemmed from a personal realization. As Kulin shared in the podcast, his co-founder Yogesh, despite coming from an insurance background, faced rejection when trying to buy benefits for his own consulting firm. The industry’s response was blunt: “We don’t cater to SMEs.” 

This highlighted a critical gap in the market. SMEs often operate on tight working capital and can therefore not afford the upfront annual lock-ins for insurance premiums. Furthermore, these SMEs don’t have specialized HR departments for navigating the labyrinth of claims and policy administration.  

Onsurity’s vision to serve the underserved paved way for an “SME-first” approach that broke the traditional mold. Instead of repackaging the existing products, the team rebuilt the entire stack from scratch. 

The “Monthly Subscription” Revolution 

The most disruptive innovation Onsurity brought to the table was the shift from annual premiums to a monthly subscription model. 

In the podcast, Kulin explained the logic: “SMEs don’t want to let go of their working capital. If given a choice, they want to deploy it in their core business.” By introducing a monthly subscription, like how companies pay for SaaS tools like Slack or Zoom, Onsurity removed the financial friction. Suddenly, a company of three people could afford the same quality of healthcare benefits as a company of 3,000. 

This model turned health benefits from a heavy annual liability into a manageable operational expense. It allowed business owners to compete for top talent against larger corporations, leveling the playing field in India’s fierce talent war. As Kulin noted, “You can pay salaries, but can you replicate the benefit structure?” Now, with Onsurity, they could. 

Tech-Driven Empathy: Speed as a Feature 

For an SME with no HR team, the last thing a founder wants is to spend hours on the phone resolving an employee’s medical claim. Onsurity solved this by building a DIY, tech-first platform that minimized human intervention. 

The impact of this digitization is staggering. Kulin revealed some eye-opening metrics during his discussion on Let’s Talk Scale: 

• Admission Time: While the industry standard can take hours, Onsurity’s average admission facilitation is less than one hour. 

• Discharge Time: Industry averages sit between 6 to 8 hours. Onsurity has brought this down to under 1.5 hours for 89% of cases. 

• Reimbursements: A process that typically drags on for 15-20 days is completed in roughly 10 days. 

They achieved this by eliminating paperwork entirely; not even a cancelled cheque is required. This efficiency isn’t just about convenience; in healthcare, speed saves lives. 

The Role of Seamless Payments 

Running a monthly subscription model for 8,000+ SMEs and 1.5 million lives requires a robust payment infrastructure. If a payment fails, insurance coverage stops, a risk that is simply unacceptable in healthcare. 

This is where partnership with payment aggregators becomes critical. Kulin highlighted that for Onsurity, payments are a core product feature, not just a utility. Whether it’s a small shop owner paying via UPI or a mid-sized tech firm using corporate credit cards or standing instructions, the flexibility of payment modes drives retention. 

Scaling with Trust in a Regulated Space 

One of the most valuable takeaways from the podcast was Kulin’s advice to fellow founders building in regulated sectors like finance or insurance. In an era where “move fast and break things” is the mantra, Kulin offers a contrarian view: Don’t try to disrupt by breaking the rules. 

“Understand the regulated space and scale and design along with the regulations,” he advised. Instead of looking for hacks or loopholes, successful founders should build within the guardrails. This discipline builds trust, the most improved currency in healthcare. 

“Build trust before you scale,” Kulin warned. Unlike e-commerce, where a bad delivery is an annoyance, a failed promise in healthcare can be life-altering. Onsurity’s growth – from zero to covering 1.5 million lives – has been fueled not just by aggressive sales, but by the trust earned through consistent, reliable service during critical moments. 

Conclusion: The Future of the SME Workforce 

Today, Onsurity works with a diverse range of businesses, from boutique agencies with three employees to growing enterprises with 5,000 staff. They have proven that the “missing middle” is not an unviable market; it was just waiting for the right solution. 

By combining financial innovation (monthly payments) with operational excellence (tech-led claims), Onsurity is doing more than just selling insurance. They are empowering Indian entrepreneurs to build healthier, more secure, and more loyal teams. 

As the conversation on PayU’s Let’s Talk Scale concluded, the vision was clear: to take those 1.5 million lives to 10 million and beyond. For the millions of employees powering India’s SME sector, that future cannot come soon enough. 

Discover how Onsurity is helping 8,000+ businesses with enterprise-grade healthcare. Catch the full insights on the latest episode of the Let’s Talk Scale podcast.