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Five questions with Mednefits

November 22, 2017

The insurance market here may seem well served but the co-founders of Singapore-based start-up Mednefits spotted a gap. They realised that small and medium-sized enterprises (SMEs) were unable to find budget-friendly basic insurance plans for outpatient costs.

That inspired them, in January 2015, to start Mednefits, which pools together SMEs to negotiate better rates for employee medical benefits (similar to traditional outpatient coverage). It also negotiates corporate rates with healthcare providers which usually only multinational companies have done. It also uses technology to build a platform to help healthcare providers process claims and benefits, cutting out third-party administrators. Lee Xin En speaks to CEO and one of the co-founders, Chris Teo, to find out how Mednefits intends to serve the SMEs.

Read the original article on Straits Times here.

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