Gurugram: Insurance-technology startup ClaimBuddy has raised an undisclosed amount as part of its seed funding round, it said on Tuesday.
This exercise in the Gurugram-based startup has been led by Titan Capital, the venture firm set up by Snapdeal founders Kunal Bahl and Rohit Bansal. Other participants in this round include the LV Angel Fund, First Cheque, and a clutch of individual investors.
Operated by Claimbuddy Technologies Pvt Ltd, ClaimBuddy was set up by Khet Singh and Ajit Patel. The startup says its platform addresses pain points in the insurance claims process, with medical claim specialists evaluating medical insurance to resolve queries and provide coverage assistance.
So far, it says it has processed claims worth over Rs 15 crore across more than 50 partner hospitals in markets including the Delhi-National Capital Region, Bengaluru, and Mumbai.
ClaimBuddy will use the capital raised in this seed round to focus on expansion across India and enhance its technological infrastructure.
“Over 90% of Indian hospitals are individually owned units and lack the required technology and domain expertise to manage insurance. It ultimately results in delays, deductions, and rejections of health insurance claims,” Singh said.