Our business team modelled data from 2500+ policies
to arrive at insights and assumptions that we believe reflect the state of employee benefits in the country.
The State of Employee Benefits
2023
Insights from 2500+ employee benefit plans.
Access the report
Enter details
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Thank you for expressing interest.
We've emailed you the report, but feel free to scroll through for stats personalized to your company size. The page has been designed to offer insights based on your inputs at different stages.
In case you're curious to see the state of employee benefits across segments, use our toggle bar.
We've emailed you the report, but feel free to scroll through for stats personalized to your company size. The page has been designed to offer insights based on your inputs at different stages.
In case you're curious to see the state of employee benefits across segments, use our toggle bar.
Lol. You still have to fill the form
How healthy .svg)
are your employee 
health benefits? 
Scroll on to 
find out where they stand in the industry.
We’re not in the business of scoring policies.
Every company’s need is different. We want employers to make informed decisions about their team’s benefits.
Every company’s need is different. We want employers to make informed decisions about their team’s benefits.
This report is our first step towards
enabling businesses to raise the bar when it comes to providing comprehensive healthcare to their employees.
enabling businesses to raise the bar when it comes to providing comprehensive healthcare to their employees.
Coverage
India’s employee benefits should be more family friendly
24
%
only 24% of employers extend health insurance to their employees parents
which is concerning, given that an employee is two times times more likely to raise a claim for their families than for themselves
Choose your employee benefit policy
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Early stage
E
ESC
ESCP
70
%
70% of companies in this segment extend benefits to their employees' families. Refer to the pie-chart for the detailed split
Find out how you can upgrade your coverage
Growth stage
E
ESC
ESCP
89
%
89% of high growth organizations extend benefits to their employees' families. Refer to the pie-chart for the detailed split
Find out how you can upgrade your coverage
Mature
E
ESC
ESCP
91
%
91% of companies in this segment extend benefits to their employees' families. Refer to the pie chart for the detailed split
Find out how you can upgrade your coverage
Sum insured
The median sum insured by India’s employers is
3L
40% lesser than the recommended sum insured of INR 5 lakh
Choose your sum insured
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Early stage
E
ESC
ESCP
1
%
of companies in this segment offer an ESCP plan with a sum insured greater than INR 10,00,000.
Refer to the chart for the detailed breakdown.
Growth stage
E
ESC
ESCP
3
%
of companies in this category offer an ESCP policy with a sum insured greater than INR 10,00,00
Refer to the chart for the detailed breakdown
Mature
E
ESC
ESCP
7
%
of companies in this category offer an ESCP policy with a sum insured greater than INR 10,00,000
Refer to the chart for the detailed breakdown.
<1%
1%
5%
10%
15%
20%
25%
Maternity
Maternity is barely insured in India
.png)
Only 56% of companies offer maternity benefits to their team
Maternity is under insured in India
The median maternity limit across industries is INR 52000 for normal delivery and INR 55000 for C-section
Approximately half of our recommended limit of INR 1 lakh
Do you offer maternity benefits?
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Only 53% of companies in this category offer maternity benefits to their teams.
53%
53% of early stage companies offer maternity cover to their employees
10%
10% offer maternity cover more than INR 50k.
Find out how you can make your employee benefits more inclusive
An incredible 88% of growth stage companies offer maternity benefits to their employees
88%
88% of growth stage companies offer maternity cover to their employees
40%
only 40% offer a maternity limit that's greater than INR 50,000
An astounding 93% of mature companies offer maternity benefits to their employees.
93%
93% of mature companies offer maternity cover to their employees
50%
only 50% offer a maternity limit greater than INR 50,000.
Scroll on to learn more about the additional health benefits offered by India's organizations.
OPD, Telehealth, and Health Checkups
Employers need to have a more holistic outlook to team health
65
%
of India’s out-of-pocket expenditure comes from OPD spending. And yet,
2%
Only 2% of Indian companies offer OPD coverage with insurance
42%
Only 42% offer telehealth consultations on top of their group medical cover
10%
Only 10% offer health check ups
Additional benefits
Term life insurance is often ignored by India’s employers
5%
Only 5% of companies offer term life insurance to their employees
Less than a quarter of India’s companies insure their team against personal accidents
23%
of India’s companies fault to offer personal accident and disability cover in addition to health insurance
43 accidents occur every hour in India. Yet, less than a quarter of India’s companies offer GPA in addition to GMC
Employees need to demand more from their employers when it comes to healthcare
<5%
of Indian companies provide comprehensive insurance and benefits, including health insurance, personal accident and disability cover, term life insurance, and telehealth
India's
Unicorns
India’s unicorns
5 lakh
India’s unicorns are raising the bar with group medical cover, with an median sum insured of 5 lakh
96%
India’s unicorns offer the best maternity benefits, and the average maternity cover for normal deliveries is 81k
16%
of India’s unicorns offer cover for out patient department treatments
In comparison, only 2% of companies do
30%
provide comprehensive healthcare of group medical cover, group term life cover, group personal accident cover, and telehealth consultations
SaaS Unicorns are the best when it comes to employee benefits…
7.3 L
Average sum insured amount offered
81 K
Average maternity limit for normal delivery
...followed closely by fintech
5 L
Average sum insured amount offered
78 K
Average maternity limit for normal delivery
Our Recommendations
Hospitalisation Expenses
Basic comprehensive coverage (irrespective of size)
Spouse and children covered
Sum insured of INR 5 lakhs
including maternity and modern treatment expenses upto INR 1 lakh
For companies that want to go above and beyond…
Spouse, children and parents covered
Sum insured of INR 10 lakhs
including maternity and modern treatment expenses upto INR 1.5 lakh
Accident & life
Basic comprehensive coverage (irrespective of size)
3 times their annual earnings
For companies that want to go above and beyond…
+
5 times of annual earnings and lump sum payout for critical Illness
Primary Healthcare & Wellness
Basic comprehensive coverage (irrespective of size)
Avenues to consult doctors for primary healthcare needs:
this is possible via teleconsultation today
For companies that want to go above and beyond…
Invest in full-suite preventive programs:
Mental and physical wellness
Nutrition
Gym memberships
OPD including in-person doctor consultations, pharmacy and diagnostics expenses.
This report was brought to you by:
- Dhairya Thakker
- Ganapathi Ramanathan
- Aishwarya Venkatesan
- Praveen Kumar
- Sharvan TG
- Abhik Roy
- Nisha Ramchandani
For feedback and media enquiries, reach out to us at connect@plumhq.com