A card-carrying member of The 2% Club

The year, 2020. The pandemic, raging. Times, uncertain.

But with uncertainty came hunger, with hunger came ambition, and with ambition came a strong entrepreneurial mindset. Encouraged by government initiatives and success stories like Freshworks and Zomato, the average Indian was ready to pursue their passion project, building the next million-dollar product, service, or business.
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One small problem: ₹₹₹₹.

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Despite incredible potential, the average Indian entrepreneur was hampered by inadequate access to capital, complicated processes, and a lot of red tape. Where more entrepreneurs saw a problem, one man saw an opportunity, bringing a team of eight together to build Yubi – a corporate debt solution for India’s entrepreneurs.

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Today, the company has facilitated credit of over ₹1,40,000 crores, with 17000+ enterprises using their platform. They’re also India’s fastest fintech unicorn, and they are present in over five cities across India and Dubai, with over 1200 employees. 

A card-carrying member of The 2% Club

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At Plum, we believe that every great company’s indefensible moat is the talent they hire, nurture, and retain. Yubi is yet another example.

Meaningful effort forms a part of every interaction at Yubi – from strict non-negotiables during hiring to defined onboarding plans for new employees to strategic investments in the health and well-being of employees’ families. This extends to how the company views employee benefits as well.

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"Our employees give a large part of their everyday life working for Yubi. We owe it to them to make sure they're covered, and their families are covered when they need it the most." 

Abhishek Mehrotra, CHRO, Yubi.

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Our research revealed that Yubi’s employee healthcare plan was one of the best in the country, not just because of the depth of their benefits but also because of the breadth of coverage. This makes them members of ‘The 2% Club’, Plum’s exclusive community of companies who have gone above and beyond in taking care of their talent. 

Understanding Yubi’s approach to holistic healthcare 

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While leadership at the company was already impressed with Plum’s dashboard and tech innovation that made life easier for the HR team, they wanted to know if Plum could service them on three fronts.

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• Could Plum service all the healthcare requirements of Yubi’s team? 
• Could Plum provide the same quality of care in all of Yubi’s offices and Group Companies, Accumn and SpoctoX, across India? 
• Could Plum strengthen Yubi’s inclusion first approach? 

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Wasn’t easy, but we did it.

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Health, not just insurance.

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The first requirement validated our hunch that the world was tired of disjointed experiences and was moving towards the great unification of employee health.

In addition of a comprehensive health insurance coverage, Plum offered Yubi the following: 

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• An OPD cover of INR 20,000, allowing employees to reimburse visits to the general practitioner, in addition to cases requiring admission. This also included AYUSH treatments. 
• Access to telehealth on the Plum app, our consultation service across 20+ specialties offering quality healthcare to employees and their families from the comfort of their homes 
• The option to avail offers and discounts for over 50+ health and wellness brands, including The Whole Truth, Cult, Khayaal, and more. 
• Online and in-person wellness sessions include (but aren’t limited to) full body health checks, de-stressing workshops, and webinars with leading doctors.

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Maintaining a high bar of quality 

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Our healthcare team is extremely picky (some would even say ruthless) about how they select partners across the country. It’s not just a function of employee needs but is also influenced by behaviours, cost, and quality of experience. 

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This, coupled with the advantage of having an in-house care team and a team of doctors, resulted in a high bar of experience across insurance, healthcare, and events – irrespective of city.

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Strengthening Yubi’s approach to inclusion 

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Diversity, Equity, and Inclusion (DEI) are key to Yubi’s culture, where diversity is a mix, and inclusion is making that mix work. The company prides itself on its extremely inclusive policies, including referral bonuses for diversity hiring, reskilling programmes for women who left the workforce, and period leaves. It was imperative that their health benefits matched these policies. 

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We benchmarked Yubi’s benefits against the best in the country, including WeWork India and Postman, to offer a comprehensive and meaningful stack of benefits that reflect their commitment to diversity.

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This includes LGBTQ+ friendly policies, coverage for infertility treatments, as well as gender reaffirmation and hormonal therapy. 

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“We were seeking a solution to streamline insurance management, elevate our health benefits, and ensure seamless experiences. Plum provided the ideal combination of flexibility, comprehensive coverage, and user-friendly technology to address these needs effectively.”

- Abhishek Mehrotra, Yubi

Yubi’s employee health stack 

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Yubi’s health stack is one of the most comprehensive we’ve witnessed, thanks to its internal policies in addition to working with healthcare partners.

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When you’ve built a policy, this good, quality intent and benefits translate to a top-notch employee experience. 

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Some highlights: 

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• Yubi’s claim CSAT is at 84.
• Over 25% of employees have booked a telehealth consultation or availed of a perk on the Plum app. 
• Only 6% of Yubi’s team needed to raise a claim, and 30% enrolled themselves the mental wellness platform indicating a stronger, healthier workforce.
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In October 2023, my father was unexpectedly hospitalized due to an irregular heartbeat and an artery blockage. He had collapsed at home, and when we rushed him to Apollo Hospital, the doctors explained that his condition stemmed from hypertension. This was the first time something like this had happened, and I was overwhelmed with anxiety.

As my father needed immediate surgical intervention, I was unsure whether our medical insurance would cover the costs, especially since the policy renewal was still in progress and my parents' health card hadn’t been generated yet. Thankfully, Yubi’s HR team connected me with Plum’s emergency helpline, and they quickly calmed me down, explained the coverage details under our policy with ICICI Lombard, and assured me that the process would be handled seamlessly.‍

‍Thanks to Plum’s support, we were able to claim the insurance in a completely cashless manner. On the day of my father's discharge, I was concerned about the accuracy of the billing and whether everything would be settled in time. Plum’s team was there every step of the way, remaining patient and professional while explaining the deductibles and coordinating with the ICICI team to expedite the process.‍

‍What could have been an incredibly stressful situation was made far more bearable because of Plum’s exceptional care. I’m truly grateful for the support they provided during such a difficult time.

– Sayanee Chatterjee
Integrated Brand Communications Manager, Yubi Group

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No amount of quantitative data can capture the human emotion associated with a job well done.

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We believe companies like Yubi will drive this decade’s health story for working India, and we’re proud to be playing a small role in their journey.