Changing the face of employee wellbeing in the region, local insurtech leads the way

Wellx, a pioneering force in the InsurTech landscape, is not just adapting to change but leading the charge in reshaping the industry. Since its launch in late 2021, Wellx has swiftly evolved into a comprehensive insurance experience provider, boasting a membership surpassing 15,000 and setting new benchmarks in community health dedication.

At the heart of Wellx’s mission is a commitment to corporate wellbeing. The platform leverages cutting-edge technology, featuring advanced health monitoring, fitness tracking, and holistic wellbeing solutions for businesses of all sizes. This tech-driven approach not only empowers individuals on their wellbeing journey but also reshapes the landscape of corporate wellness.

Rooted in innovation and smart tech, Wellx seamlessly integrates artificial intelligence (AI) on its platform with multiple touchpoints for users to experience.

Beyond traditional Insurtech boundaries, Wellx employs AI to offer users a transparent understanding of their insurance coverage. The app transforms into an intelligent companion, demystifying insurance policies and providing clear insights. In an era where transparency is paramount, Wellx sets a new standard, ensuring users have a comprehensive understanding of their insurance place, fostering trust and confidence. Additional applications of AI on the Wellx platform include booking mental health sessions directly through the app with a local service provider. A 67% increase in users booking counseling sessions through the app was observed in 2023 with numbers predicted to grow in 2024.

Furthermore,  the platform envisions an AI-driven future where users are empowered with insights tailored to their unique health needs, making well-being an accessible and personalized experience.

Strategic collaborations have been a cornerstone of Wellx’s journey, transcending conventional insurance boundaries. The platform actively participated in initiatives like the Dubai Fitness Challenge and formed alliances with global activity tracking giants such as Ultrahuman, Fitbit (now part of Google), and WHOOP. These partnerships underscore Wellx’s commitment to transparency, accountability, and community well-being.

Vaibhav Kashyap, CEO, and Co-Founder, emphasizes,“Through success stories, user feedback, and innovative features, Wellx has not only maintained high user engagement and satisfaction but has consistently transformed how individuals approach and achieve their health and wellbeing. We will continue to make strides with our technology offering forging a revolutionary path towards transparency, accountability, and a healthier future for the communities we serve.”

Reflecting on past milestones, Wellx sees them as the inception of a shared value insurance model that defines the future. With premium prices slated to increase by 30%, Wellx collaborates actively with insurers to enhance the value offered to customers. This forward-looking approach sets the stage for a future where insurance seamlessly delivers real value, making it not just an added cost but a meaningful investment in well-being.

As Wellx looks ahead in 2024, a pivotal aspect of its strategy involves investing in intuitive design and emerging technologies, including AI coaching. This underscores Wellx’s dedication to a customer-centric approach, where user experience and personalization take center stage. Prospective expansion plans into other GCC countries, including KSA, Oman, & Bahrain, reaffirm Wellx’s commitment to growth and regional presence leading the industry toward a future where personalized wellbeing and transparent, value-driven insurance solutions resting on the laurels of innovation.

About Wellx:

Founded in 2022 by Vaibhav Kashyap, Javed Akerbali and Dr. Anushka Patchava. Wellx is the region’s first-of-its-kind combined Health and InsurTech platform that focuses on reducing insurance claims from prevention to digital health and care. Through multi-source data ingestion, population health analytics, embedded behavioural science and gamification, Wellx personalizes wellness and health care to drive sustainable behaviour change and positive health outcomes, for individuals, families, corporates and communities. Wellx has a clear vision: Make Healthy Fun and Health Hassle-Free.