EXPOSED 🚨🚨: How a Government Official crushed Kenko because they weren't 'Elite' enough

There needs to be more of naming and shaming

IRDAI is the worst. DGCA is equally bad.

These bodies are there just to stall everything..

I would like to hear the other side of the story too, sounds pretty one sided to make any judgement

It was doomed from the beginning. They approached me for some freelance work and when I looked through, I realised all of their products were at an imagination stage. They had no clue how they’ll assess anyone’s health or price those damn plans. It felt like a moonshot and that’s just one or two years back.

It's his frame of reference here. How is elite wealthy people owning piece of country/insurance an socialist style country mindset? It doesn't make sense at all.

2ndly, there are other such young startups out there who are selling insurance. If his statement were true and there's no personal animosity, how are other startups able to setup their shops in insurance?

Quite sure this is the half truth. I work for a startup that’s also trying to get an Insurer license and I can say that the insurance regulator is very supportive of startup coming in and challenging bigger companies by offering better services to people.

Yes, it imposes certain financial and regulatory burdens but those are to ensure that you will not crumble when the claims start coming in.

Which family office is he talking about in his original post?

Regulations and regulators are tricky to work with. And they have to cater to an entire ecosystem so they can't have different solutions/programs for different company type/size. Kenko is saying they were crushed by the regulations and some individuals in particular but at the same time there are a lot of bad insurance companies in the market who are operating with licences. Either Kenko's luck was really bad or they couldn't fulfill some regulatory requirement.

Isn't kenko model based on rewarding you for sharing your health details (prescriptions/ medicines/ hospital bills) with them which is highly confidential anyway? Also they are free to use / sell your data as it's fairly compensated already and you have voluntarily shared it with them against the money. Clear transactional exchange.

If govt bodies are restricting such companies citing regulatory norms, it's more for the benefit of folks who desire quick money in the form of cashback at the cost of their ignorance.

Also such blatant accusation only reeks of a perfect blame escape plan for all the 1 yr / 2 yr kenko subscription plan sold on their platform.

I wouldn't comment on this untill the other side of the picture is also shared.