Insurance

Comprehensive insurance platform — health, term life, savings, and motor insurance

Insurance Platform

Wealthy’s insurance platform enables customers and partners to compare, purchase, and manage insurance policies across multiple categories and insurers. The platform handles the complete journey from getting quotes to policy issuance.

Product Categories

Health Insurance — Comprehensive health insurance with multiple insurers and plans
Term Life Insurance — Pure protection term life insurance plans
Savings Insurance — Savings and endowment plans with guaranteed returns
Proposal & Purchase Flow — How a customer goes from selecting a quote to getting a policy
Two-Wheeler Insurance (documentation coming soon)
Four-Wheeler Insurance (documentation coming soon)

How Insurance Works on Wealthy

The Customer Journey

Browse Plans — Customer selects an insurance category (health, term, savings) and sees available plans from multiple insurers
Get Quotes — Based on personal details (age, family, sum insured preference), the platform fetches real-time premium quotes from all active insurers
Compare & Select — Customer compares plans side-by-side on features, premium, claim settlement ratio, and coverage
Fill Details — Customer provides personal information, nominee details, and answers medical/health questions
Review & Pay — Final review of the proposal, followed by payment
Policy Issued — Insurer issues the policy; customer receives policy documents

Partner Flow

Partners (financial advisors, distributors) can initiate insurance proposals on behalf of their clients. Each proposal is assigned an insurance specialist from Wealthy’s team to assist through the process.

Insurance Providers

Health Insurance Partners

Insurer	Claim Settlement Ratio	Plans Available
ManipalCigna Health	89.80%	7 plans (Sarvah, ProHealth, Lifetime series)
Care Health	87.1%	3 plans (Supreme, Senior Super, Senior Premium)
Niva Bupa Health	90.10%	7 plans (Reassure, Reassure 3.0 series)
HDFC Ergo Health	95%	1 plan (Optima Secure)
ICICI Lombard Health	88.5%	1 plan (Elevate)

Term Life Insurance Partners

Insurer	Claim Settlement Ratio	Plans Available
HDFC Life	98.7%	Click 2 Protect Super (C2PS)
Bajaj Allianz Life	99.29%	eTouch
ICICI Prudential Life	99.35%	iProtect Smart Plus
Axis Max Life	99.65%	Smart Secure Plus
Tata AIA	99.13%	Sampoorna Raksha Supreme

Savings Insurance Partners

Insurer	Products
ICICI Prudential	Gold Pru
HDFC Life	Sanchay Par, Sanchay Plus

Key Concepts

Proposal

A proposal is the central entity that tracks the customer’s insurance journey. It moves through stages from creation to policy issuance. Every quote comparison, customer detail submission, and payment is tied to a proposal.

Quote

A quote is a real-time premium calculation from an insurer based on the customer’s profile (age, health, coverage needs). Quotes are fetched directly from insurer APIs — they are not cached or pre-calculated.

Riders / Add-ons

Optional coverage that can be added to a base plan for additional premium. Examples: Critical Illness cover, Accident cover, Hospital Cash, Wellness benefits. Available riders vary by insurer and plan.

Sum Insured / Sum Assured

Sum Insured (Health) — Maximum amount the insurer will pay for medical expenses
Sum Assured (Term/Savings) — Amount paid to nominee on death of the insured

Claim Settlement Ratio

Percentage of claims settled by an insurer out of total claims received. Higher is better — indicates reliability of the insurer in honoring claims.

Product Availability Control

Plans can be enabled or disabled at runtime without any code deployment. Each insurance category (health, term, savings) has a configuration table that controls which insurer-plan combinations are active and visible to customers.