InsureTech Flashaid Launches Plans to Offer Students Financial Protection from Unemployment and Disruptions in Education

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Flashaid, a Mumbai-based insurtech startup, has launched a protection plan for universities and school students dealing with educational disruptions and unemployment.

The “Student Total Protect” plan offers comprehensive financial security—tuition protection, health coverage, and career placement assistance. Students and their families can confidently rely on this highly adopted product to keep their educational and professional paths uninterrupted.

According to the NSSO (2019) survey, one in five students drop out of formal education annually due to unforeseen circumstances. To tackle this growing problem, Flashaid has partnered with more than ten universities and schools and is in the advanced stages of closing 100+ such institutions in the next year.

One such partner – Ghazali Sami, Director of Outreach and International Affairs at Integral University in Lucknow, said, “Flashaid offers excellent health insurance packages for students that cater to their needs during their studies. Since we work closely with international students, we must ensure their health coverage through these customized products. Flashaid has effectively met this need for organizations systematically, helping us grow efficiently.”

Talking about the plan, Gunjali Kothari, Founder of Flashaid, said, “Education is crucial for securing good jobs and supporting families. With rising tuition fees in India, protecting academic progress is essential. Flashaid’s plan covers all remaining school or college fees if students lose their paying parent.

According to government data, ‘Educated Unemployment’ stands at 7.3% as per PLFS 2023, leaving graduating students with loans and no immediate employment. In this scenario, Flashaid’s Placement Protect offers a monthly stipend to graduates from top-tier colleges who are unemployed after completing their programs, along with placement assistance and internship opportunities in top Indian startups.

It also provides a Health Protect Plan, which offers preventive care with mental wellness programs, doctor tele-consultations, and hospitalization expenses.

The UGC guidelines emphasize the importance of student safety and well-being during trips and study tours, mandating that colleges ensure their physical and mental protection.

Founded by Manoj Gupta and Gunjali Kothari, Flashaid offers a full-stack health solution with proprietary pre-underwritten products, open APIs, and embedded solutions.
Earlier this year, the company closed its $2.5 million in its pre-Series A funding round in April.