The Fitness Startup That Wants to Sell Insurance
“People like Mahatma Gandhi, Albert Einstein and Mother Teresa were not billionaires but we remember them even today more than any billionaires . I had a dream to create a preventive healthcare platform which should impact a billion people and the day I do that I will consider myself to be successful.”
– Vishal Gondal, Founder & CEO of GOQii.
Fitness startup-slash wearable technology company, GOQii (pronounced “go-key”), established in 2014 and led by Vishal Gondal, is planning to become an insurance agency.
Let’s back up. The company currently sells 3 products: (1) GOQii Stride – starting at ~$10 and available on Flipkart – a smart steps tracker that monitors steps and guides users toward a healthier lifestyle. (2) GOQii Vital – starting at ~$48 for 3 months – a subscription-based plan that tracks a user’s blood pressure, heart rate, calories burned, steps covered, active hours and sleep patterns. And (3) GOQii HR – starting at ~$27 for 3 months – a subscription-based plan similar to GOQii Vital with fewer features – for instance, it doesn’t track blood pressure.
And GOQii is no stranger to insurance. Last year, Indian health insurer Max Bupa announced it has partnered with GOQii and Swiss Re to offer a technology-connected health insurance plan with the goals of reducing claims and reducing premiums.
Bottom Line: over 300k users and one Harvard case study.