ClaimBuddy

ClaimBuddy Technologies Private Limited operates as a health insurance claims assistance platform, positioning itself as a crucial intermediary between patients, hospitals, and insurance providers. The company was founded in Gurugram, India, in August 2020 by Khet Singh Rajpurohit and Ajit Patel. The founders identified a significant gap in the healthcare sector for efficient claims management, inspired by their previous experiences in the industry and the challenges observed during the COVID-19 pandemic. Rajpurohit, an IIM Bangalore alumnus, witnessed firsthand the stress patients faced due to delayed or denied claims during a prior role at a healthcare startup. This experience led him to collaborate with Patel, his former colleague who was leading insurance operations, to develop a solution.

The company's business model is centered on providing digital infrastructure and expert assistance to streamline the claims process. It primarily serves two client types: hospitals, for which it manages the entire claims process, and patients, whom it assists in securing hassle-free cashless claims. By embedding 'Claim Buddies' at hospital desks and leveraging technology, the company facilitates the correct filing of documents, checks claim eligibility, and works to ensure maximum payout for the patient. This approach aims to reduce the administrative burden on hospitals and alleviate stress for patients during discharge. ClaimBuddy operates in a growing insurtech market in India, competing with firms like ClaimTherapist and BimaGarage.

Since its inception, ClaimBuddy has demonstrated significant traction, having partnered with over 250 hospitals across India and processed claims for more than 35,000 patients. The company's growth has been supported by several funding rounds. It secured a pre-seed round in January 2021, followed by a $3 million pre-Series A round in early 2022. In April 2024, ClaimBuddy closed a $5 million Series A funding round led by Bharat Innovation Fund, with participation from CAC Capital, Chiratae Ventures, and Rebright Partners. These funds are allocated towards enhancing its technology, expanding its team and sales network, and introducing new financial tools and product lines.

Keywords: health insurance claims, insurtech India, medical claim assistance, hospital claims management, healthcare financing, patient discharge process, cashless claims, medical billing support, healthcare administration, Khet Singh Rajpurohit, Ajit Patel, Bharat Innovation Fund, Chiratae Ventures, Rebright Partners, healthcare B2B, insurance technology, medical claims processing, hospital financial services, patient financial services, claims settlement