How big is your company's health insurance vertical in terms of sum assured and premium collected every year? What is your market share in health insurance and how is it growing?
Unlike Life Insurance, in General Insurance the size of business is considered in terms of premium underwritten. Up to July end this year as a 100 year old Company, New India with total premium income of 3545.53 crs has retained Market Leadership for Health Insurance with a 21% market share in a market with 25 General Insurance Companies and 7 Stand Alone Health Insurance Companies having total Health premium of 16674.71 crs and growing at par with Industry growth of 20%
What are the product innovations brought in by your company to fortify its position as a market leader in health insurance space?
New India has in the recent times launched the Global Mediclaim policy covering treatment abroad for major 6 named illnesses. We also have launched the Top Up policy, which has very popular features. We have our Premier policy for HNI customers offering sum insured of upto 1 cr. Besides new products we have also revamped our regular mediclaim policies by incorporating newer features like reinstatement of Sum Insured, etc. Apart from new products we have also focused on Online Facility to bring in customer convenience. As the largest general insurance company with huge volumes, we are committed to better service and customer satisfaction.
Has the entry of standalone health insurance companies increased competition for general insurers? Isn't it good for customers that they have so many options and the competitive pressure acts as a trigger to bring out better products?
This story is from the September 16, 2019 edition of Outlook.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 16, 2019 edition of Outlook.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Soft Ruins
'Soft Ruins' is a chapter within the long-term ongoing project \"When Spring Never Comes\", an expansive exploration of memory, identity and displacement in the aftermath of exile within contemporary global politics. It reflects on how the journey as an asylum seeker in Europe mirrors the instability and threats of life under dictatorship, amidst rising right-wing movements and shifting power dynamics, where both certainty and identity are redefined
Building Beyond Homes: Provident Housing's Transformative Approach
Provident Housing leads in crafting thoughtfully designed homes that cater to modern homebuyers' evolving needs. With a focus on timely delivery, sustainability, and innovative, customer-centric solutions, the company sets new benchmarks. In this exclusive interview, Mallanna Sasalu, CEO of Provident Housing, shares insights into the company's strategies, upcoming projects, and vision for India's housing future.
Syria Speaks
A Syrian graffiti artist-activist's tale of living through bombings, gunshots and displacement
The Burdened
Yemen, once a beautiful land identified with the Queen of Sheba, is now one of the worst ongoing humanitarian disasters of modern times
Sculpting In Time
Documentaries such as Intercepted and Songs of Slow Burning Earth grapple with the Russian occupation beyond displays of desolation
The Story Won't Die
Is Israel's triumphalism over its land grab in Syria realistic? The hard reality is-Israel now has Al-Qaeda as a next-door neighbour
Against the Loveless World
In times of war, love exists as a profound act of defiance
Soul of My Soul
What does it mean to continue to create art during a genocide?
in Dancing the Glory of Monsters
By humanising the stories of those affected by war, poverty and displacement, Buuma hopes to foster empathy and inspire action
All the President's Men
Co-author of All The President's Men and one of the two Washington Post journalists (the other was Carl Berntstein) who broke the Watergate scandal that brought down the President Richard Nixon administration in the United States in 1974, Bob Woodward's recent book War was on top of The New York Times Bestseller list, even above John Grisham.
