Jitin Bhasin is a leader in the field of financial services. He holds expertise in multiple domains like Banking, Insurance, and Consulting. In 2014 he was adjudged as Economic Times Young Leader. He was the Managing Director of FinFriends and RupeeRedee. He is now building his FinTech company SaveIN.

The motivation behind the entrepreneurial journey 

Jitin Bhasin says, “I have been in finance, banking, and fintech domain for very long years now. In 2015, it was very clear to me that the future of the company lies in digitalization. There is tangible movement in the west in regards to the same. And when something happens in the west, India adopts it over a period of time. There is an expressive indication that digitalization is the future of the country. There is going to be a decisive contribution of financial service products. Hence, fintech became the automatic interest for me and I have been with fintech for 7 years.”

Benefits of savings in healthcare 

Jitin Bhasin informs, “70 % of Indian households opt for private healthcare due to lack of options or preference. There is a large amount of out-of-pocket expenses by the patient. The core idea behind SaveIN is that we want to create an enabling ecosystem for consumers whereby we offer a pay later kind of facility for each and every healthcare provider in the length and breadth of the country. This enables them to serve 40 - 50 % of customers with affordability. Today a lot of people are not able to avail timely and quality healthcare.

We want to impact both these aspects of healthcare for affordability and availability of healthcare. This is the driving force behind SaveIN. It is India’s first Buy Now Pay Later Platform Healthcare and we call it Care Now- Pay Later.”

USP For SaveIN

Jitin Bhasin states, The "Buy Now Pay Later platform is gaining recognition in India. It is an 8 billion market and estimated to crack 50 billion in 4 -5 years. If you see the market today, the large number of “Buy Now Pay Later”(BNPL) products are dominated by E-commerce. Several Buy Now Pay Later products are available today in the country and this is very exciting to know. Most of the “Buy Now Pay Later”(BNPL) products are confined to eCommerce. This funding is available for apparel, electronics, cosmetics, and foods but not for healthcare. We have created SaveIN to impact the true needs of people. SaveIN is very different from others in these aspects-

• We activate the individualized care 
• We activate onboard provider care and pay later system
• Digitized pay later system 
• The technology of Credit assessment in 60 secs."

Arrangement of healthcare finances by SaveIN for people

Jitin Bhasin states, “Currently, we are covering outpatient services. Our thesis is that in the inpatient service, the amount of money needed is more and insurances are already in place for that. We are focusing on outpatient treatment like dental, optical, and vet care. So, outpatient is the first focus. We pay the provider on behalf of the patient. We can access your credit system and give you access to your healthcare on behalf of you. You can pay SaveIN in equated monthly installments. This is how finance works for SaveIN. 

Consumerization of healthcare is different because it is sensitive and Covid has placed healthcare right at the pinnacle. If you are not healthy everything else can wait”

Product Offerings from SaveIN

Jitin Bhasin states, “We have launched this product in Delhi, Gurgaon in the new year. It is a very recent launch. We have activated many healthcare providers and served many customers. Our first customer was a handsome labrador dog who had to undergo surgery. We delighted the pet parents with access to the money which helped them with the surgery of this dog. We have touched hundreds of people in the limited time that we have been in the market and there is hundreds of demand for this. We have direct healthcare providers who want to get onboarded and offer these products to consumers. We intend to expand in cities rapidly and as far as our growth plan is concerned we want to reach out and help many people. We want to create a network of thousands of people and touch the lives of millions of people on a daily basis with a healthy lifestyle. This is our aim. “ 

Healthcare Future plans for SaveIN

Jitin Bhasin says, “ We are focused on healthcare and finance. We aim to democratize how people are accessing healthcare. We have added gym membership services for preventive healthcare. Our focus is to touch people from every aspect of healthcare from toddlers to the elderly. SaveIN provides a way to connect with the right providers to stay rest assured about quality healthcare with good customer service.”

Present and future Revenues for SaveIN

Jitin Bhasin says, “We are backed up by a specific choice of investors. We continue to deploy that money for our growth plan in the right manner. Strengthening the in-house teams and we hope to activate 15 - 20 cities across the country. We hope for strong customer engagement. We are very passionate about customer engagement and retention. ”

Financial Figures for SaveIN in 2022 

Jitin Bhasin says, “Let it flow. We wish to touch the lives of millions. We aim for this through thousands of healthcare providers. It is a very massive and impressive market. It is an engaging challenge ahead of us. We are backing ourselves to execute well.”

(Edited by Dr.Rati Parwani)