Flashaid Launches ‘Student Total Protect’ Plan to Safeguard Students from Educational Disruptions and Unemployment
- ByStartupStory | September 12, 2024
Mumbai-based insurtech startup, Flashaid, has introduced a revolutionary protection plan for university and school students aimed at addressing the rising challenges of educational disruptions and unemployment. The “Student Total Protect” plan offers a comprehensive package of financial security, covering tuition protection, health coverage, and career placement assistance.
The plan is designed to ensure that students and their families can confidently navigate unforeseen circumstances that could jeopardize their education or future career prospects. According to a 2019 survey by the National Sample Survey Office (NSSO), one in five students in India drops out of formal education each year due to unforeseen disruptions. To combat this growing concern, Flashaid has partnered with over ten universities and schools and is on track to secure partnerships with more than 100 institutions in the coming year.
One such partner, Ghazali Sami, Director of Outreach and International Affairs at Integral University in Lucknow, shared his thoughts on Flashaid’s offerings: “Flashaid offers excellent health insurance packages for students that cater to their needs during their studies. Since we work closely with international students, we must ensure their health coverage through these customized products. Flashaid has effectively met this need for organizations systematically, helping us grow efficiently.”
Flashaid’s Founder, Gunjali Kothari, emphasized the critical role of education in securing a stable future: “Education is crucial for securing good jobs and supporting families. With rising tuition fees in India, protecting academic progress is essential. Flashaid’s plan covers all remaining school or college fees if students lose their paying parent.”
In response to growing concerns over “Educated Unemployment,” which stands at 7.3% according to the Periodic Labour Force Survey (PLFS) 2023, Flashaid has introduced the “Placement Protect” feature within the Student Total Protect plan. This component provides a monthly stipend to unemployed graduates from top-tier colleges and offers placement assistance and internship opportunities with leading startups in India.
Additionally, the plan offers a “Health Protect Plan” that covers preventive care services such as mental wellness programs, tele-consultations with doctors, and hospitalization costs. This initiative aligns with the University Grants Commission (UGC) guidelines, which stress the importance of student safety and well-being, particularly during off-campus trips and study tours.
Flashaid, founded by Manoj Gupta and Gunjali Kothari, continues to lead the way in insurtech innovation by offering full-stack health solutions with proprietary pre-underwritten products, open APIs, and embedded solutions. Earlier this year, the startup raised $2.5 million in its pre-Series A funding round, demonstrating strong investor confidence in its growth trajectory.
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