Vaibhav Global makes their Employee Healthcare Shine with Loop
Vaibhav Global Limited (VGL), is a renowned multinational electronic retailer and manufacturer specializing in fashion jewelry and lifestyle accessories. This case study delves into how VGL transformed its employee benefits program through a strategic partnership with Loop, addressing challenges and achieving substantial enhancements in coverage, accessibility, and overall employee well-being.
- Limited budget for employee health benefits.
- Need for comprehensive coverage with maximum advantages.
- Lack of awareness about policies and services among employees.
- Desire to cover parents under the health plan.
- Issues with turnaround time (TAT) for claims settlement.
- Concerns over high medical expenses.
- Loop designed a tailored wellness policy within the specified budget, maximizing employee benefits.
- Provided a user-friendly mobile app for easy access to consultations and legal resources.
- Proposed on-site seminars and webinars to enhance employee understanding and utilization of Loop's services.
- Offered coverage options for parents, aligning with Vaibhav Global's commitment to employee well-being.
- Addressed TAT concerns, settling 89% of claims in less than 10 days.
- A tailored telemedicine policy ensured extensive coverage, prioritizing employees' well-being.
- Loop's mobile app provided easy access to consultations and legal advice, enhancing employee engagement.
- Including parents in the plan highlighted Vaibhav Global's commitment to employee welfare.
- Loop's streamlined process resulted in a remarkable 90%+ claims settlement rate, setting an industry standard.
- Employees lauded Loop's services, with Medical Advisor Chats and doctor consultations earning a 3.9/4 rating.
- Employees collectively saved 309,200 on medical expenses, thanks to Loop's cost-effective solutions.
Challenges
Vaibhav Global faced several challenges in their employee benefits program. With a constrained budget, finding comprehensive coverage that maximized advantages for employees was a significant concern. Additionally, there was a lack of awareness about existing policies and services among employees. Providing coverage for parents and managing high medical expenses added complexity. Turnaround time (TAT) for claims settlement also presented a hurdle, demanding a more efficient process.
Solutions
Upon partnering with Loop, Vaibhav Global saw remarkable improvements. Loop designed a bespoke telemedicine policy that not only fit the budget but also provided extensive coverage, prioritizing employee health and well-being. The introduction of a user-friendly mobile app facilitated easy access to consultations and legal resources, elevating overall employee engagement with healthcare services. To address the need for inclusive family coverage, Loop included parents in the health plan, demonstrating a commitment to employee welfare. Loop worked diligently to refine the claims process, resulting in a 90%+ claims settlement rate, effectively setting a new industry standard for turnaround time (TAT). Employee awareness was further enhanced through seminars and webinars organized by Loop.
Result
The partnership with Loop yielded significant improvements in Vaibhav Global's employee benefits program. Employees now enjoy comprehensive coverage, accessible through a user-friendly mobile app. Inclusive family coverage, including parents, reflects Vaibhav Global's dedication to employee welfare. Loop's streamlined claims process not only reduced rejections to zero but also achieved a remarkable 90%+ claims settlement rate, setting a new industry standard for TAT. Employee feedback has been overwhelmingly positive, with Medical Advisor Chats and doctor consultations earning an impressive 3.9/4 rating. Moreover, employees collectively saved a substantial 309,200 on medical expenses, thanks to Loop's cost-effective solutions. This successful partnership has positioned Vaibhav Global as a company that prioritizes the well-being and satisfaction of its employees.
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Challenges
Vaibhav Global faced several challenges in their employee benefits program. With a constrained budget, finding comprehensive coverage that maximized advantages for employees was a significant concern. Additionally, there was a lack of awareness about existing policies and services among employees. Providing coverage for parents and managing high medical expenses added complexity. Turnaround time (TAT) for claims settlement also presented a hurdle, demanding a more efficient process.
Vaibhav Global faced several challenges in their employee benefits program. With a constrained budget, finding comprehensive coverage that maximized advantages for employees was a significant concern. Additionally, there was a lack of awareness about existing policies and services among employees. Providing coverage for parents and managing high medical expenses added complexity. Turnaround time (TAT) for claims settlement also presented a hurdle, demanding a more efficient process.
Building with Loop
Constant communication
Our customer success managers keep Brevistay’s team looped in constantly. From claims resolutions to new wellness offerings, Brevistay’s team is always in the know.
100% transparency
Whether it’s endorsements or CD balance, all transactions are 100% transparent. We meet regularly with Brevistay’s team to build a more detailed picture of month-on-month execution.
Round-the-clock support
24X7 services include claims support, doctor consultations, and customer support. Even during peak COVID-19 times, support was readily available at all times. No escalations were received.
Health care solutions
With discounts on lab tests, and regular wellness sessions that are tailored for the young workforce at Brevistay, our preventive care approach helps keep employees continually healthy.
Personalized wellness sessions
We allow teams to curate a personalized wellness calendar with top experts. The 30-minute highly interactive Q&A session on nutrition, a topic chosen by the employees, saw a 95% attendance including managers and co-founders.
Modern healthcare
for high power teams
Get an estimateResults With Loop
Here’s what the Brevistay folks have to say:
“If I have to describe our partnership with Loop, it’s very transparent. We know how much we’re paying and all price details are clear when we started as well. The best part - we’re not involved.
We know Loop’s team is there taking ownership of our group health insurance - which is great. It’s like we’re doing everything yet nothing. The entire process is well structured, and we get responses on time so it’s all smooth.”
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HRs and employees love Loop
Loop is very cordial, patiently dealing with every insurance query. They ensure we take appropriate action in time.
Loop’s thoughtful assistance, right from in-person to moral support, shows the depth and quality of the team's commitment to their clients.
It was great to have Loop Health with us for all our medical needs
The valuable insights you provided on healthcare benefits will be incredibly helpful for our employees, enabling them to fully understand and take advantage of the perks of endorsing with Loop.
One of the best features is the in-house team of doctors and specialists. Our employees love Loop’s wellness sessions, and health check-up camps.
Our association with Loop has been an excellent experience. Kudos to the claims team because the claims are settled very well. Our employees are very happy with the health checkup feature too.
The online consultation services provided to employees through the Loop app proved to be a life-changer. We have seen many of our employees have taken benefit of the service and it actually served as a big relief to us.
Please thank Dr. Amruta for making me feel alive, happy & hopeful again. After first day of meds, I experienced 70% of positive change''
The medical advisors and the consultations from the in-house doctors has been very helpful. They are very prompt in their communication and follow up.
Loop is very cordial, patiently dealing with every insurance query. They ensure we take appropriate action in time.
Loop’s thoughtful assistance, right from in-person to moral support, shows the depth and quality of the team's commitment to their clients.
It was great to have Loop Health with us for all our medical needs
The valuable insights you provided on healthcare benefits will be incredibly helpful for our employees, enabling them to fully understand and take advantage of the perks of endorsing with Loop.
One of the best features is the in-house team of doctors and specialists. Our employees love Loop’s wellness sessions, and health check-up camps.
Our association with Loop has been an excellent experience. Kudos to the claims team because the claims are settled very well. Our employees are very happy with the health checkup feature too.
The online consultation services provided to employees through the Loop app proved to be a life-changer. We have seen many of our employees have taken benefit of the service and it actually served as a big relief to us.
Please thank Dr. Amruta for making me feel alive, happy & hopeful again. After first day of meds, I experienced 70% of positive change''
The medical advisors and the consultations from the in-house doctors has been very helpful. They are very prompt in their communication and follow up.
Loop is very cordial, patiently dealing with every insurance query. They ensure we take appropriate action in time.
Loop’s thoughtful assistance, right from in-person to moral support, shows the depth and quality of the team's commitment to their clients.
It was great to have Loop Health with us for all our medical needs
The valuable insights you provided on healthcare benefits will be incredibly helpful for our employees, enabling them to fully understand and take advantage of the perks of endorsing with Loop.
One of the best features is the in-house team of doctors and specialists. Our employees love Loop’s wellness sessions, and health check-up camps.
Our association with Loop has been an excellent experience. Kudos to the claims team because the claims are settled very well. Our employees are very happy with the health checkup feature too.
The online consultation services provided to employees through the Loop app proved to be a life-changer. We have seen many of our employees have taken benefit of the service and it actually served as a big relief to us.
Please thank Dr. Amruta for making me feel alive, happy & hopeful again. After first day of meds, I experienced 70% of positive change''
The medical advisors and the consultations from the in-house doctors has been very helpful. They are very prompt in their communication and follow up.
"For my team, having Loop is like having a doctor in the family."
This year was especially tough, but now we have Loop helping our team.
We have had Loop as our insurance broker for last 2 years, our experience is very positive. From getting the best quotes to providing unique services via their mobile app to going the extra mile to deliver best services, they've helped us make things easy and convenient for our employees.
My employees no longer call me to ask about their policy because Loop takes care of everything.
Really nice doctors. Helpful in every situation. They do a follow up to check on you. Would definitely recommend.
Appreciate Loop’s speedy response and unwavering assistance. Truly setting the bar for healthcare services.
Seamless process with quick approvals - Loop provided fantastic service even in late hours.
"For my team, having Loop is like having a doctor in the family."
This year was especially tough, but now we have Loop helping our team.
We have had Loop as our insurance broker for last 2 years, our experience is very positive. From getting the best quotes to providing unique services via their mobile app to going the extra mile to deliver best services, they've helped us make things easy and convenient for our employees.
My employees no longer call me to ask about their policy because Loop takes care of everything.
Really nice doctors. Helpful in every situation. They do a follow up to check on you. Would definitely recommend.
Appreciate Loop’s speedy response and unwavering assistance. Truly setting the bar for healthcare services.
Seamless process with quick approvals - Loop provided fantastic service even in late hours.
"For my team, having Loop is like having a doctor in the family."
This year was especially tough, but now we have Loop helping our team.
We have had Loop as our insurance broker for last 2 years, our experience is very positive. From getting the best quotes to providing unique services via their mobile app to going the extra mile to deliver best services, they've helped us make things easy and convenient for our employees.
My employees no longer call me to ask about their policy because Loop takes care of everything.
Really nice doctors. Helpful in every situation. They do a follow up to check on you. Would definitely recommend.
Appreciate Loop’s speedy response and unwavering assistance. Truly setting the bar for healthcare services.
Seamless process with quick approvals - Loop provided fantastic service even in late hours.