QONECT

QONECT

QONECT

Interest free Medical emergency fund for underserved communities, ensuring timely care for all

Churachandpur, Manipur 795128, India

IND

Hybrid of for-profit and nonprofit

In underserved communities, financial barriers to healthcare lead to preventable deaths and catastrophic health expenditures, trapping families in poverty. In India, over 63 million people fall into poverty annually due to out-of-pocket medical expenses (WHO, World Bank). Rural and marginalized communities are the most affected, with over 70% of healthcare costs paid directly by patients, and only 15% of the population covered by insurance. As a result, many delay or forgo medical treatment, leading to severe health complications and higher mortality rates. Globally, the WHO estimates that 2 billion people lack financial protection for healthcare, with over 100 million people pushed into extreme poverty each year due to medical costs. The absence of accessible credit and insurance forces families to rely on high-interest loans or sell assets, worsening their financial instability. QONECT addresses this crisis by providing medical emergency funds and micro-insurance to ensure timely access to treatment while preventing financial ruin. By bridging the gap between healthcare and financial services, we empower underserved communities with sustainable health financing solutions. Our approach reduces reliance on predatory loans, promotes early medical intervention, and strengthens financial resilience, ensuring that no one is denied healthcare due to lack of funds.

QONECT is a medical emergency fund and micro-insurance platform that provides underserved communities with timely healthcare financing. It enables individuals to access instant credit for medical emergencies while offering micro-insurance protection to prevent catastrophic health expenditures and ensure that financial constraints do not delay essential medical care. How it works: Users can sign up via the QONECT mobile app or through a Field Sales Executive. After a simple KYC verification, they can apply for an emergency medical fund, which the platform quickly assesses using alternative credit scoring methods—ensuring access even for those without a traditional credit history. Approved users receive funds directly to cover medical treatment. To enhance financial security, QONECT also provides affordable micro-insurance plans, covering hospitalization, critical illnesses, and accident protection. The process is tech-driven, utilizing AI-based credit risk assessment, digital payments, and automated claim processing to ensure speed, transparency, and accessibility. By combining credit access and insurance coverage, QONECT empowers underserved communities to seek timely medical care without financial distress. Our solution reduces reliance on predatory lenders, promotes financial resilience, and ensures that medical emergencies do not lead to long-term poverty. https://youtu.be/q6gPsIv7EU4?si=Tu7wbrXoXfR53XvF

QONECT serves low-income and underserved communities, particularly daily wage earners, small business owners, farmers, and informal workers who lack access to traditional credit and health insurance. These individuals are highly vulnerable to financial shocks from medical emergencies, often forced to borrow from predatory lenders at exorbitant interest rates or sell assets to afford healthcare. Many in our target population lack health insurance—with over 70% of healthcare costs in India paid out-of-pocket—leading to delayed or avoided medical care due to financial constraints. Women, elderly individuals, and those in rural areas face even greater barriers to timely treatment. QONECT directly addresses these challenges by providing: Instant access to emergency medical funds, ensuring individuals can seek timely treatment without financial distress. Affordable micro-insurance, protecting families from catastrophic health expenditures. Tech-driven credit scoring, allows those without traditional credit histories to access funds. By bridging the gap between healthcare and financial security, QONECT enables early medical intervention, reduces financial vulnerability, and helps families break the cycle of poverty caused by health crises. Our solution empowers underserved communities to prioritize healthcare without fear of debt or economic hardship.