cloud network hunting note: many developing countries in Asia freelancers or part of the small and medium-sized enterprise employees are hard to afford their own health insurance, Horsepower company in the Philippines after studying various data models and practices, and introduced a low cost service of insurance business, make ordinary employees can enjoy medical insurance service.
how many times have you heard of someone to free and easy boldly to quit in the boss’s hand work, and lose some due welfare doesn’t matter in the life? For most people with this prevents them from the idea of an employee to become self-employed, it is a very valuable benefits for people to let go, that is: health insurance.
in the Philippines company, especially in the big companies will subsidy the company’s employees a premium, but usually outside this circle of people, especially those independent freelancers will find insurance seems a little too much for a.
Jorge Azurin (Jojy) discovered this phenomenon, thus became an entrepreneur and Freelancer.com Philippines branch head and director for Asia. Azurin has received feedback from many companies millions of users, they asked for an affordable health insurance. He thought it was a red warning: increasing welfare, how to ensure that a department become driven economic benefits of a pilot?
is this information inspired Azurin co-founder and Diego Ramos, Hannah Crisostomo create a startup called Horsepower, the company’s mission is to let those freelancers and small and medium-sized enterprise employees affordable health insurance they need.
this is for the first time in this type of startup in the Philippines, Horsepower is worth watching this year’s new start-ups.
price is lower than the insurance company
medical insurance is only one Horsepower services provided by the company, but this may be a most valuable service.
in the Philippines, especially under the conditions of. In the Philippines, the medical insurance is a need for employees out of his own pocket. In the Philippines, Ramos said a significant portion of the people do not have to buy health insurance. Why is this case? This is because the health insurance price is very expensive, personal health insurance management (Individual HMOs) is one of the most common insurance scheme, about 50% of the total contract price to 100%. A good hmos, for example, need to customers from the age of 25 or so to pay the insurance premium of around $895 a year. But those who purchased the HMO insurance, when suffering from serious illness or prolonged treatment is needed still need to pay for medicinal purposes.
Ramos said: “until now, most of the services of this type is from the first level to the third level gradually restored, but when the high health care costs still need to pay.”
the insurance committee, local government and health administrative institutions of the latest data support the Ramo. In 2011, according to the Philippines national total spending $9.6 billion on the hospitalization expense. In proportion to the capital, the private sector accounted for 63.1%, accounted for 27% of the government department, social insurance and fund accounted for 9.9%. Among them, in the private sector spending, 53% paid by families with HMO insurance 6%, 2%, the private enterprise schools and other insurance scheme accounted for 1%.
Ramos, points out their insurance services including the Philippine domestic level 1 to level 3 medical care, which also includes dental and cosmetic surgery, these are not within the HMO insurance scheme. He claims, through consultation, ginseng protect personnel in the clinical and medical diagnosis can have a discount of 20% to 70%.
the team spent a year made an actuarial model for medical insurance. Ramos said: “we have a lot of early models were rejected by health care service providers. But in November last year, we finally for the enterprise staff set out a better data model.”
Ramos provided no further details of the message, he said all the solutions will be officially released after two months later announced on his website. “We must put our health care packages in shown on our website, so far, our HMO services has more than 300 health care service providers to, at the end of 2015 will reach 400.” Ramos said.
the Horsepower brand itself is a person or a startup “complete solution”. Apart from health insurance first, it provides many other services, such as online payment of the government’s social insurance, pension funds, human resources, financial instruments (accounting and budget system), and even some Suggestions of legal and tax issues.
Azurin said: “our hope is that entrepreneurs are more focused on business and improve earnings. We can handle all his background.”
Azurin said these services package prices below $22.33. “The user can choose a suitable membership grade, and this level is based on how much they can afford, or what is their needs. When the member level, will be better service, as well as the broader health insurance, there will be more complex business tool.”
a diverse team of
the team for the emerging startups has brought a series of experience. Azurin has for many years engaged in e-commerce industry, while Romos in health care delivery system has a wealth of experience, he once participated in the planning of hmos project in the 90 s, and set up a health clinic in the metropolis. As for Crisostomo, he used to be a multiple of direct selling company’s senior officials, once worked in says Fern, is a popular, the company says Fern – manufacturer of vitamin C.
Ramos said, we usually adopt Growth Hack strategy to build our other business.
founders very support for investors, the investors in their view made big chips. They can fine-tune their work in the specific operation, they will be able to raise $250000 a month in October. Ramos is said: “these investments are used to build services and financial applications in Asia area of effective weapons ahead immediately, and suppliers to discuss, we are here now and actuaries work is to select the appropriate country.”
this year, the team’s goal is to raise more than $2000 portfolio.
Ramos said that our investors are not technology oriented expert. They have from the shipping industry, and from the real estate industry, but they understand us about the entrepreneur’s vision, they are very believe our platform.
in the market, everyone is entrepreneurs
we work until now one of the most interesting topic of discussion is independent entrepreneurs or the rise of a free economy. More and more people in the pursuit of flexible employment opportunities, more and more companies in recruiting employees as needed. However, it is because this employee has serious risks, especially the social welfare and social safety net, and so on.
there are several trends are driving transmission company environmental change: the recent recession forced many companies to cut staff and enable freelancers, technology and innovation has made a lot of companies and professionals to realize a lot of work is done remotely.
it all to Horsepower company opportunities and challenges. The startup, the first task is to create a let a person can accept and afford health insurance model.
Azurin said: “now the challenge is to create satisfying a model of medical service providers. To this, Actuarians tend to avoid risks. Model is easy to identify and manage a single company all staff health risks. But more than 100000 people how to manage the business? In the same way, there is also a challenge is how to come up with a member of the price is very low price and comprehensive integration services.”
is to expand business and regional Horsepower company needs to break through the obstacles.
“just focus on one country will not meet our expected economic size” Azurin said.
“we let data experts studied several economic models, and in the validation, this business is the only feasible solution can span multiple countries in Asia.” Ramos added.
Ramos said their medical model is designed based on the market, but this model very “similar” with other developing countries, these countries officially they want to enter the country.
considering market demand, said he expects in the Philippines is less than 15 months contract at least 100000 members.