Arogya Finance lends money to those who are unable to pay for their medical expenses. To enable maximum impact, Arogya Finance has developed a proprietary approach which allows it to evaluate the credit worthiness of and lend to individuals and families who are outside the formal system – those who lack things like formal salary slips, collateral, a credit history, etc.
The magnitude of the problem Arogya is addressing cannot be overstated. Only 10-15% of people in India are insured. Out of the rest, only a small minority is able to pay out of pocket. Of the remaining, some sell their personal assets, some take loans – often at onerous terms, and the rest simply go without care. The problem is so bad, in fact, that each year, unexpected medical expenses push 40M people into poverty. That makes unexpected medical expenses the #1 cause of poverty.