I usually use these with electric stoves since they retain heat pretty well. They take a while to warm up though, so there's both time and energy lost in that warming process.
Cast Iron ones will do too.
If you have to cook something to simmer and hold heat for long, best use thick bottomed ones.
What could be done to mitigate the slow heating issue is to use a small amount of water initially, on high settings, allowing it to boil. Then you can add your contents, reduce the power setting and allow it to simmer.
What many dont know is that you can keep a cast iron or steel plate between the vessel and the stove, of a suitable thickness, that converts the induction stove to a "heater" stove (the plate gets heated through induction, but the vessel only sees the heat). However, a word of caution. If the plate is of a very large size, it will have un-even heating and may warp. Best size is one that is slightly smaller than the circular marker on the stove.
Induction heat transfer is basically generating a magnetic field in the bottom coil, which is then picked up by the vessel, currents induced in it causing the heat.
Cheap induction stoves emulate lower power levels by turning the heat on and off, averaging the heat.
One solution is to use a thick bottom vessel that retains enough heat between the cycles to allow simmering.
Or buy a smooth controlled stove. But I dont think there are any such ones in the market.