Dedicated To Mumbai
Home > Business > Bringing technological edge to wellness

Bringing technological edge to wellness

Tuesday, February 28, 2017

Rajesh Mundra, Founder & CEO, Truworth Wellness

Rajesh Mundra is a Serial Entrepreneur and has created successful businesses in last 25 years in the domains of IT, Financial Services & Home Improvement under Truworth Group that employs more than 1500 employees across the different verticals. His latest venture is in the space of Health Technology and Wellness under the brand Truworth Wellness. Truworth Wellness is India’s leading company in the field of Workplace Wellness since last 3 years and is pioneer in bringing the technological edge in the world of corporate wellness.  

In conversation with Dominic Rebello, Rajesh reveals the reasons why he felt the need for starting a platform that would keep a regular check on health.

What is the idea behind Truworth Wellness?
Truworth Wellness a health and wellness company started with a tele-health screening platform. The idea was to provide basic health screening services at the comfort of one’s office or home because we as Indians are culturally very apprehensive of visiting Laboratories and hospitals for general health checks.
The idea of starting a preventive health care system stuck with me because of my personal experience, In my early 40s, I had put in a request for a high value insurance plan that was rejected due to some unusual parameter found in the health check which I was completely unaware of before the check-up. This influenced me to develop such a platform that would atleast keep a regular check on health. Many individuals with deviated statistics learned of their conditions well in time and this helped them manage their condition more effectively. The company went on to do more than 5000 such screenings. However, a challenge we faced at that time was scaling up in the B2C market, as the cost of customer acquisition was turning out to be very high. In 2013, the company pivoted to the Corporate Wellness sector looking at the bulk opportunities in the space.

How big is the potential for a business like yours?
Erratic lifestyle, unhealthy eating habits, sedentary activity level during the day and stress at work affects the life of individuals, and they indulge in wellness activities to combat the various factors affecting their health. Healthcare industry is a sunrise sector in India; with a market size estimated to be Rs 490 billion the wellness sector occupies 40% of the market share.

The wellness services alone are expected to have the potential to generate three million job opportunities. However, it is critical for the government and private participants to simultaneously invest in education infrastructure and quality standards to provide further impetus to the industry. The growing cost of health insurance premiums due to rising claims and the surge of lifestyle diseases amongst the employees of corporate India opens a large window to us and we expect Truworth Wellness to clock an annual revenue rate of USD 50 million by 2022.

How do you plan to scale up?
Truworth Wellness is emerging as the most comprehensive Employee Health and Wellness Benefits player in the market and we expect to garner a major market share of the Employer  market very soon. Through employers we are able to reach out to the employees and their families providing a fourfold reach at the cost of one customer acquisition. The partnerships with the Insurance companies and intermediaries allows us to reach out to a large population and our expertise in assessment technologies and behaviour analytics  would provide us a loyalty connect with the policy holders. We strongly depend on our expertise with analytics and technology for scaling up. We plan build even stronger analytic base and also initiate the development of consumer friendly technology.

Who would primarily be your consumer audience?
Employers, Employees and families, Insurance and their policy holders, Pharmaceutical Companies and their customers. Apart from the B2B acquisition we are looking at acquiring consumers through Digital marketing, branding and advertising.

Where do you see yourself five years down the road?
In the next 5 years, we are looking to have 500+ corporates using our engagement platforms for managing their health and rewards benefits, engagement, management, and wellness services, thereby reaching out to over 3 million employees and their families. In addition members of Health Insurance Plans and B2C, we expect to touch over 10 million lives in the next 5 years through our multiple wellness plans.

Truworth shall be rapidly expanding its corporate wellness business in India and shall soon be launching in the Middle East and Asia Pacific markets. We will also be entering the retail B2C market sometimes in the last quarter of 2017.

No Comments Posted
I am 23-year-old woman. Why does it hurt when I h
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)You will be at your best when dealing with people today. Your ideas and schemes will be received and accepted and will prove gainful. Meetings and social gatherings scheduled for today will go off very well. Plans for travel are indicated. You will get a nice surprise on finding a romantic interest coming from an area least expected. It will do your ego well if nothing else. Do not get too carried away or seriously involved as there are problems ahead in this association.
- Advertising -
You may not be able to retreat into a bathtub eve
Kissing the sandy beaches of Mandwa, Kiki’s Café
Craving for a cup of tea this afternoon? Head ove
Read More