We are committed towards PM Shri Narendra Modi’s vision of being ‘Atma Nirbhar’ and producing in India.
Vishal Gondal, Founder & CEO, GOQii
2020 has been an unprecedented year for people across the globe. In just a few months, the pandemic has brought about massive changes in the way companies do business. COVID-19 has speeded the adoption of digital technologies by several years—and that many of these changes could be here for the long haul. With consumers treating health more seriously the service providers have also been working towards innovation to improve standards of living, from a health perspective. GOQii has been at the forefront of bringing digital healthcare to help individuals take care of their health. We have tried to understand our consumers needs and incorporate it in all our products and services. For the year 2021, GOQii have listed down our priority areas and focus points,
Outcome-based Insurance plans
In the last one year, perspective and the amount of focus on health has changed tremendously. I strongly believe that the future of insurance will be disrupted by personalized health coaching, wearable devices and artificial intelligence. Our partnership with insurance companies will change the way we interact with our consumers. The amount of health data that GOQii generates will help insurers calculate their health risk more efficiently. So consequently, we are anticipating changes in insurance pricing as well. We right now have 9 approvals under the regulatory sandbox that we have launched with Star, Bajaj Allianz, Kotak, Max Bhupa. The idea is outcome centric insurance. Come 2021, looking at our success from our collaborations with insurance companies we are planning on expanding this. 2021 will be the year where we plan to take Insurance mainstream integrated with preventive health and fitness.
Data Security & Privacy
The wearable devices & digital health platforms generate tremendous amounts of data on a day to day basis, so it is imperative that we take utmost care while collecting, processing and storing health data. While the very root of medical innovation comes from analyzing health data, we at GOQii handle it with an immense amount of integrity and responsibility. Health data is extremely critical so companies should not wrongfully use it to make profits. In 2021, GOQii will focus its efforts to design efficient systems and work with the industry & various regulatory bodies to make sure the health data is being used in compliance to consumer interests.
2021 is going to be extremely crucial in terms of retail. Wearables have become an essential commodity to help detect vital parameters and help individuals self-monitor themselves during this unprecedented pandemic. It has become imperative for an individual to take care of his or her health on priority.
To take its offering across a wider segment, GOQii is also investing into offline retail. Over the next 12 months, GOQii’s slew of products and services will be available across 10,000 plus stores in partnership with CompuageInfocom Ltd, one of India’s leading volume technology products distributors. Currently, GOQii is available across online platforms Amazon, Flipkart and offline via Croma. We at GOQii are optimistic about the business growth in the coming year and are anticipating a high profit second quarter.
Association with hospitals & doctors to deploy GOQii Healthcare solutions
GOQii’s Vital range including Smart Vital, Vital 3.0 and Vital ECG has received the Central Drugs Standard Control Organization’s medical device registration. CDSCO under the Ministry of Health and Family Welfare is the national regulatory body for Indian pharmaceuticals and medical devices. We are also conducting clinical trials in association with KJ Somaiya college and once these results are out we will be focusing on making sure large number of doctors and hospitals take advantage of our wearable devices and hopefully it will help them track the vitals of their patients at the tips of their fingers.
Manufacturing in India
Currently we design and develop GOQii products in India and manufacture in China however in 2021 efforts will be concentrated towards moving key manufacturing in India. We are committed towards PM Shri Narendra Modi’s vision of being ‘AtmaNirbhar’ and producing in India. Our entire team is working steadfastly to realize this vision, and this will be an important focus point in 2021 for us.