Mom's Belief comes up with insurance policy for children with special needs
Our core DNA is child development and we take care of children with special needs suffering from Downs syndrome, autism, ADHD attention deficit hyperactivity disorder, learning disability, intellectual disability or any other developmental delay.Our core is 0-15 years mental age and we do around 30,000 sessions per month on these kinds of therapies, intervention or counselling as so on, Nitin Bindlish, founder and CEO of Moms Belief, said during an interaction.The start-up, which started operations in late December 2018, is equipped with a good team of over 700 full-time professionals and has about 100 centres all across India.
Mom's Belief, a mental wellness and health company for kids, has come up with a specified health insurance product for children with special needs who are suffering from autism, Down's syndrome and learning disability, among others.
Mom's Belief Care-Aadvik child insurance plan, which has been launched in association with care health insurance, will cover the treatment cost for such children, providing cover in the range of Rs 1.5 lakh-Rs 4 lakh.
''We are a mental wellness and health company for kids. Our core DNA is child development and we take care of children with special needs suffering from Down's syndrome, autism, ADHD (attention deficit hyperactivity disorder), learning disability, intellectual disability or any other developmental delay.
''Our core is 0-15 years mental age and we do around 30,000 sessions per month on these kinds of therapies, intervention or counselling as so on,'' Nitin Bindlish, founder and CEO of Mom's Belief, said during an interaction.
The start-up, which started operations in late December 2018, is equipped with a good team of over 700 full-time professionals and has about 100 centres all across India. It is one of the largest mental health companies not only for kids but adults also in Asia-Pacific, Bindlish said.
Talking about the Mom's Belief Care-Aadvik child insurance plan for special needs children, he said it is a group 360-degree insurance product underwritten by Care Health, which is a business-to-business product. It means parents will have to become the customers of Mom's Belief to buy this product.
''I can't sell it directly to parents, the parents need to become my customer and then I can forward this benefit to them as per the mandate from Irdai (Insurance Regulatory and Development Authority of India), the company's founder said.
He said that from the B2C perspective, the company has every plan to take it to customers, but it is a long process. It can take two-three years to get it approved at the B2C level, which the company will do.
''But we want to pass the benefit to parents as soon as possible, and that's why we launched the group insurance first under the group 360 degree programme,'' Bindlish said.
As of now, there is no comprehensive product like this offering covering from Rs 1.5 lakh to Rs 4 lakh, which covers IPD (inpatient department) in 16,000 hospitals, OPD (outpatient department) in therapy at over 100 centres and that too all cashless, he said.
''We have added pathology, blood test and nutrition, among others, in the policy as these kids require lots of supplements.
''Parents are also included on a co-pay basis plus the assessment and screening just like in the US and also cashless. So, these are some of the benefits we want to give to the parents,'' Bindlish added.
Mom's Belief had a soft launch of the product recently and it has started issuing policies with over 30 policies sold already and 100 in the waiting.
''We want to roll out the product in a phased manner and then expand it to a larger population. It will be one of the solid steps in this industry. We also have certain targets, we want to insure 10,000 kids under this insurance by 2022,'' Bindlish said.
He said Mom's Belief is also almost done on the family floater plan.
''For, say, nobody is using that insurance, say nobody uses the IPD part, it can be used by parents as well as the siblings also. We are also adding it for adult mental health counselling, as most of the time, the two parents are anxious, depressed or sometimes need counselling,'' he said.
Bindlish added that it is not about one kid but the entire family that goes through the commotion and all. ''So, we want to add family counselling also under this product.'' On the premium side, he said that for Rs 1.5 lakh cover, the premium will be Rs 22,000, including GST.
The Gurugram-headquartered company delivers its services through its 100-odd centres as well as through digital therapy under which a mother can be trained to become a co-therapist for her child.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)