Overview
Nova Benefits is a group benefits and employee health insurance platform for employers across India. The company serves as a B2B intermediary helping businesses of all sizes provide group health insurance, wellness programs, and business insurance products to their employees through a tech-first approach that replaces manual HR workflows.
The platform offers an employer dashboard for managing team health insurance, automated member onboarding and offboarding, real-time claims tracking, and a suite of employee wellness add-ons including telehealth, mental wellness, dental, vision, and OPD coverage. A companion product, Reco by Nova, provides commercial insurance lines -- cyber, D&O, E&O, CGL, and Crime -- to companies through a separate broker platform. Both platforms are delivered as SaaS with mobile apps for iOS and Android.
Nova Benefits has covered over 200,000 employees across 500+ companies and processed more than 10,000 claims, holding a 4.7-star rating across 450+ Google Reviews. The company raised USD 11M across four rounds, including a USD 10M Series A led by Bessemer Venture Partners and Susquehanna International Group in September 2021.
Products & Services
Group Health Insurance Platform
Core product providing group medical cover (GMC) and group accident cover (GAC) for company employees and their dependents. Employers manage coverage through a web dashboard with real-time visibility into claims, and employees access health e-cards, claims tracking, and benefit details through a dedicated portal or mobile app.
Key Features
- Automated member additions and deletions via HR platform integrations
- Employee and employer portals with 24x7 digital support
- Real-time claims tracking and ICICI Lombard digital claims processing integration
- ISO 27001:2022 certified and SOC 2 Type II compliant
Target Users: HR teams and employees at companies of all sizes in India
Wellness Benefits Suite
A bundle of wellness services included alongside the core group health insurance product, designed to extend coverage beyond traditional inpatient care.
Key Features
- Telehealth: on-demand doctor consultations
- Mental wellness: emotional support sessions with professionals
- Maternity support: newborn essentials and maternal wellness programs
- Dental and vision checkups, annual full-body health checkups
- OPD coverage, discounted medicines, social fitness programs
Target Users: Employees enrolled in Nova Benefits group plans
Super Top-Ups
Supplemental coverage plans layered over base group health insurance to increase the sum insured for employees and their dependents beyond the base policy.
Target Users: Employers seeking to offer enhanced coverage tiers
Reco by Nova
A separate commercial insurance broker platform offering business insurance products including cyber insurance, Directors and Officers (D&O) liability, Errors and Omissions (E&O), Commercial General Liability (CGL), and Crime insurance.
Key Features
- Multi-line commercial insurance in a single platform
- Targeted at startups and SMEs in India
Target Users: Companies seeking business liability and cyber coverage
At a Glance
- Founded
- 2020
- Headquarters
- Bengaluru, India
- Employees
- 51-200
- Funding
- Series A
Category & Focus
- Category
- Specialty Solutions
- Subcategories
- Group Health Insurance Employee Benefits Business Insurance
- Insurance Verticals
- Health Group Benefits Specialty/E&S
- Target Customers
- Employers
Customers
- Snapdeal
- Tata
- Fynd / Shopsense Retail Technologies
- Springworks
- Lentra
- Cleartax
- Fareye
- Appsmith
- Rupeek
- Rebel Foods
- Moengage
- Aryaka Networks
- Agilysys
- Medibuddy
- Homelane
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Last updated: 2026-06-04