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CEO Speaks

Co-Founder & CEO Jose Peter enlightening about Arogya Finance

Hear our Co-Founder & CEO Jose Peter as he talks about Arogya Finance and how it works to help the people throughout the country to borrow easily and quickly in times of medical emergencies and how you can secure a loan for your healthcare finance needs where you need no collateral, minimum documentation. Also hear him describe our innovative product – The Arogya Card – a facility to pre-approve your medical loan that comes in handy for you and your family (5 members) annually. This card acts as a cashless facility in our partner hospitals and facilitates instant sanction of loans for the pre-approved medical loan value of your card.

Here's the message from our CEO:
" Hi, this is Jose Peter, Co-founder & CEO of Arogya Finance which pioneered the concept of medical loans in India. Imagine for a second that your co-worker has a heart attack. You rush her to the hospital & the doctor tells you that she needs surgery and that it’ll cost rupees 2 lacs. She has no health insurance. What do you do? You try to negotiate and to raise money and if you are lucky, you will. If you are not, you will have to leave the hospital without getting her the care you came there for. While every Indian deserve quality healthcare, the sad reality is less than 15% have health insurance, 75% of health care expenses are spend out of pocket by low income families, people borrow at exorbitant rates, often exceeding 5% a month or sell assets, including assets on which they earn their living, all of this leading 30 to 40 million Indians into poverty every year. So much so, healthcare shocks have become the #1 reason for poverty in this country! Can you imagine; 3 to 4% of the population of the country going into poverty every year, only due to medical shocks faced by their families? Faced with this sad reality, Arogya Finance innovated to target the segment that has no collateral, no income proof and no credit history. An innovative psychometric test lies at the heart of our credit process which now allow us to lend in a matter of hours. And we have shown that this works. Over the past 3 years, we have expanded our operations into 14 states, 84 cities and 383 hospitals. Our latest innovation is the Arogya Card, which is a pre-approved medical loan for the family which the family can use like a cashless insurance. With this Arogya Finance has created a true alternative to insurance, for those very families under constant threat of poverty. We want to do more; we want to give out 150,000 loans and pre-approve 18 lac Arogya Cards in the next 5 years. "

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