MUMBAI, India, Jan. 6, 2021 /PRNewswire/ — BIMA GARAGE is born to address the claims servicing issues in the Health Insurance sector by establishing the first-ever business model & an organization which is just into the servicing of claims & focuses on integration of healthcare ecosystem. It all started in December 2017, when Sandesh Mishra and Devang Parmar first started working on the ‘Idea’; they used to complete their daily routine at office and then meet at municipal garden(Ganjawala lane , Borivali west) to pen down idea on a paper (a 20-Rupees pad & a 2-Rupees pen ) on how to execute, make operating process, how to start, business structure, revenue stream, funding, human resource and all other vital information required to start.
Post ideation, they conducted survey on viability of business on ground to do the real check if the customer would like to pay for availing such services. They got their 3rd founding member Mr. Hemant, who started meeting and developing customers (Hospital owners & CEO’s) . They met Dr. Shiv Narayan Kalia, in Surat at Tristar Hospital. He was so Impressed by the idea that he welcomed it as one of the must-have services at hospital to improve their customer experience & cash flow with reconciliation of payments and BANG! They got their first paying customer.
On 19th June 2018, they started their own company and had decided to solve this pain area and make a difference in the life of their customers. It was very tough for all of them to leave well-paying jobs and venture into business, there were many months wherein they used their savings to survive & take personal loans to keep the business running.
They had setup 2 offices – one in Mumbai & one in Surat and had around 34 hospitals as their customers. They actively started looking for funding & were able to get it from one of their colleague and friend Jaya who loved their idea and intent, got associated with them as their first investor partner & also as Training Head and expanded their operations further to Pune, Surat, Ahmedabad & 50+ hospitals.
Within one year they also got rewarded with two awards: –
- “Most promising health care startup” from times group.
- “Best Health Care Startup” Global health care leadership Awards.
They started expanding and growing, one of their colleagues Pradyuman intended to join the team with a minimal investment, he came on board with hands-on experience of Hospital networking for cashless empanelment.
Also, they participated for incubation program and got selected in top 20 startups at AIC – NMIMS, Mumbai. To know more: https://aic.nmims.edu/
Post this, they expanded to few more new cities & started getting approached by various fund houses and PE investors & got the first round of investment from PE and very reputed group of investors.
By then, they were present in 8 cities and 3 states with 87 employees.
Then, before they could celebrate their second anniversary on 19th June 2020, came the havoc “COVID-19”, suddenly the whole world turned around and things got bad to worse for every business. They were also affected, and business was on standstill and there were daily challenges faced on work front and employee retention, customers (Hospitals) were confused with frequent changes in guidelines on treatment protocols, cash flow crunch, low flow of patients. This was the time when they thought of a new product which can be a B2C and fast moving, they again got on ideation stage for this and spent sleepless nights juggling between their existing desk business retention, expansion and coming up with unique product direct for customer claim servicing and existing policy benefits with a larger and long-term idea of creating a community of Insurance & health fraternity + Customers. This is how most ambitious product “HobNob” was born. They launched the product on our second anniversary (19thJune 2020) Within the first month of launch they got 1000 customers registered on our portal for claims services.
And in such tough and challenging time of COVID-19 their investor showed great trust in them by accepting their proposal for second round of funding for HobNob, so they were among the fortunate organizations’ who got funding during this challenging period.
With the fresh funding, they have further expanded operations with right set of people, dedicated call center and efficient tech platform.
Today, with all odds of market, BIMA GARAGE is standing firm & strong on their commitment and vision of becoming the most trusted Insurance servicing company across ASIA.
They have their presence in 67 cities for “HobNob” customers and very soon you would see them PAN India. To know more: https://hobnob.bimagarage.com/
Values: – EASE – Enthusiastic, Accountable, Simple and Expert
Do watch their 1st TVC & Infographic which will be released soon. Keeping watching social media space for more details.
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