Aditya Birla Sun Life Insurance (ABSLI) is a 51:49 joint venture between the Aditya Birla Group and Sun Life Financial Inc., a Canadian financial services organization. Incorporated on August 4, 2000, it commenced operations on January 17, 2001. ABSLI offers a wide array of life insurance products, including Protection Plans like ABSLI DigiShield Plan and ABSLI Life Shield Plan, providing financial security to the family in case of the policyholder’s death with options for tailored coverage and predictable payouts, and some plans like Return of Premium plans that may return premiums if the policyholder survives the term. Wealth with Protection Plans include Unit Linked Insurance Plans (ULIPs) such as ABSLI Wealth Max Plan and ABSLI Fortune Elite Plan, combining investment and insurance. Savings Plans like ABSLI Nishchit Aayush Plan and ABSLI Assured Savings Plan offer guaranteed income or additions along with life cover. They also provide Retirement and Pension Solutions designed for post-retirement income, Children’s Future Plans to secure financial futures, Health Plans covering hospitalization and critical illnesses, and Traditional Term Plans. ABSLI has a nationwide presence through a multi-channel distribution network including branches, bancassurance partners, direct selling agents, corporate agents, brokers, and its website. As of June 2022, it had over 340 branches, 8 bancassurance partners, and over 49,000 direct selling agents. As of June 2022, the total Assets Under Management (AUM) of ABSLI stood at around ₹606,604 million. In Q1 FY 2022-23, it recorded a gross premium income of ₹26,197 million, showing significant year-on-year growth. ABSLI serves over 1.6 million active customers and has a large employee base. The company boasts a high claim settlement ratio, indicating its commitment to honoring claims promptly; for individual business, the claim settlement ratio was reported as 98.40% in a recent report.
Aditya Birla Health Insurance (ABHICL) is a joint venture between Aditya Birla Group and MMI Holdings of South Africa. Incorporated in 2015, it commenced operations in October 2016. ABHICL focuses on offering a range of health insurance products with unique offerings, including chronic care and incentivized wellness programs. Their offerings include individual and family health insurance plans, critical illness insurance, personal accident insurance, and group health insurance. Some plans offer features like HealthReturns™ where policyholders can earn back a portion of their premium by staying healthy. They also cover modern treatments and a wide range of daycare procedures. ABHICL has a growing distribution presence across India through branches, partner offices, bancassurance partners, and direct selling agents, covering over 2800+ cities. As of Q1 FY22, ABHICL covered more than 22 million lives. ABHICL emphasizes a ‘Health First’ approach, motivating customers to engage in wellness activities through programs and digital platforms.
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India’s Health Insurance Revolution: Insurers Now Prioritize Your Well-being with Preventive Care and Substantial Savings!
The Indian healthcare system is facing a significant challenge due to rising healthcare costs and the burden of out-of-pocket expenses, which account for over 60% of total healthcare spending. Traditional health insurance in India has primarily focused on hospitalization, leaving everyday medical needs uncovered. However, a strategic shift is underway, with insurers prioritizing preventive care and wellness. Mayank Bathwal, CEO of Aditya Birla Health Insurance, explains that this shift is crucial in addressing the core issue of healthcare costs.
The traditional model of health insurance in India has left a significant gap in coverage for regular doctor consultations, diagnostic tests, and medicine costs. These expenses place a heavy financial strain on Indian households. Expanding insurance to cover outpatient services and preventive check-ups can help manage health proactively, reducing avoidable hospital admissions and making healthcare expenses more predictable.
Digital innovation is key to increasing insurance penetration, with platforms like Bima Sugam streamlining policy purchase and servicing. Aditya Birla Health Insurance’s “HealthReturns” program incentivizes healthy lifestyles, rewarding policyholders for consistent healthy behavior. This approach transforms insurance from a financial product into an active partner in well-being, fostering customer loyalty.
A comprehensive health ecosystem requires collaboration between insurers, providers, and government bodies. Digital infrastructure like ABHA and NHCX fosters transparency and streamlines claims. Aditya Birla Health Insurance aims to transition from a reactive, hospital-centric model to a proactive, holistic health ecosystem. This includes managing chronic conditions with continuous monitoring and digital tools for customer health tracking.
The impact of this strategic shift could be significant, leading to a healthier population, reduced long-term healthcare costs, and increased insurance penetration in India. It may also spur innovation among competitors and influence regulatory frameworks. The shift towards preventive care and wellness is a crucial step in addressing the challenges faced by the Indian healthcare system, and Aditya Birla Health Insurance is at the forefront of this change.
The company’s vision is to create a proactive health ecosystem that manages customer health outcomes and aligns them with insurer sustainability goals. This approach has the potential to transform the healthcare landscape in India, making healthcare more accessible, affordable, and effective. With the use of digital tools, AI-powered technologies, and collaborative efforts between stakeholders, Aditya Birla Health Insurance is poised to make a significant impact in the Indian healthcare industry.
Aditya Birla Introduces Super Term Plan Offering Health Services and Flexible Coverage Options
Aditya Birla Sun Life Insurance Company Limited (ABSLI) has launched a new term insurance plan called the ABSLI Super Term Plan. This comprehensive plan offers an all-in-one solution that combines life protection with built-in health management services, providing policyholders with enhanced flexibility and financial security. The plan offers three coverage options: Level Cover, Increasing Cover, and Level Cover with Return of Premium. These options allow policyholders to choose from a fixed sum assured, increasing protection by 5% annually, or returning 100% of premiums if they survive to maturity.
The plan also provides flexibility in benefit disbursement, allowing policyholders to receive benefits as a lump sum, monthly income, or a combination of both. Additionally, the plan includes health management services that are accessible throughout the policy term, as well as an Enhanced Life Stage Protection option that allows policyholders to increase their sum assured for major life events such as marriage, childbirth, or home loans.
The ABSLI Super Term Plan also features an Instant Payment facility, which provides specified amounts within one working day of claim registration. Other options include Staggered Death Benefit, which allows for five-year monthly instalments, and Commutation of Income Benefit, which allows policyholders to convert monthly payments to a lump sum.
According to Kamlesh Rao, MD & CEO of ABSLI, the plan is designed to offer comprehensive financial security through flexible coverage, in-built health management services, and protection against life’s uncertainties. ABSLI, a joint venture between Aditya Birla Group and Sun Life Financial, manages assets worth ₹99,496 crore and recorded gross premium income of ₹20,639 crore as of March 2025. The launch of the ABSLI Super Term Plan is a significant development in the insurance industry, providing policyholders with a comprehensive and flexible insurance solution that meets their evolving needs. With its innovative features and benefits, the plan is expected to appeal to a wide range of customers seeking reliable and comprehensive financial protection.
KGMU and Aditya Birla Capital Launch Bone Marrow Transplant Ward to Enhance Cancer Treatment Accessibility in Uttar Pradesh
In a significant development for the healthcare sector in Uttar Pradesh, King George’s Medical University (KGMU) has launched a state-of-the-art Bone Marrow Transplant (BMT) Ward with the support of Aditya Birla Capital Foundation (ABCF) and NGO partner CanKids. The new facility aims to provide affordable and high-quality transplant services, reducing the need for patients to travel outside the state for specialized care. The BMT Ward has been established under a tripartite agreement between KGMU, Aditya Birla Capital, and technical partners, with an initial investment of ₹2.76 crore from ABCF.
The facility is expected to benefit patients from across the region, particularly in oncology and pediatric cancer care. Aditya Birla Capital has committed an additional ₹3.25 crore for Phase II of the project, which will focus on expanding capacity and strengthening critical infrastructure to support a higher volume of bone marrow transplant procedures. The launch of the BMT Ward is a significant addition to Uttar Pradesh’s public healthcare infrastructure and is expected to set new benchmarks in making life-saving bone marrow transplants accessible and affordable.
According to Ms. Vishakha Mulye, MD & CEO of Aditya Birla Capital Limited, the company’s purpose goes beyond financial empowerment and drives inclusive growth and development in healthcare, education, and sustainable livelihoods for underserved communities. The Aditya Birla Capital Foundation serves as the apex body guiding the social development initiatives of Aditya Birla Capital and its group companies, impacting over 700,000 lives annually across 12 states, with a focus on women and girl children.
The establishment of the BMT Ward is a testament to the company’s commitment to creating a positive impact on the community. With the launch of this facility, patients in Uttar Pradesh and neighboring regions will have access to world-class medical care, reducing the need for them to travel to other states for treatment. The BMT Ward is expected to make a significant difference in the lives of patients and their families, providing them with hope and a chance to fight cancer.
Aditya Birla Sun Life Insurance introduces dividend-yielding Unit Linked Insurance Plans (ULIPs)
Aditya Birla Sun Life Insurance has introduced a new fund called Dividend Yield Fund, which will be available under its existing Unit-Linked Insurance Plans (ULIPs). The fund aims to invest primarily in top Indian companies that consistently pay dividends, providing policyholders with a stable source of income. The fund will allocate 80-100% of its portfolio to equities, focusing on financially strong and profitable companies with a track record of paying steady dividends.
The remaining 0-20% of the portfolio may be invested in debt instruments, money market securities, or cash. This diversification will help mitigate risks and provide a stable return on investment. The fund’s investment strategy is designed to help policyholders build long-term wealth by investing in companies with a proven track record of generating consistent returns.
According to Kamlesh Rao, MD & CEO of Aditya Birla Sun Life Insurance, the Dividend Yield Fund has been designed to provide policyholders with a solution that balances protection and performance. The fund aims to offer steady and consistent value creation, making it an attractive option for investors seeking long-term growth. By investing in financially strong and dividend-paying companies, the fund seeks to provide policyholders with a stable source of income and help them achieve their long-term financial goals with confidence.
The launch of the Dividend Yield Fund underscores Aditya Birla Sun Life Insurance’s commitment to providing innovative and customer-centric solutions. The company aims to offer a range of investment options that cater to different risk profiles and investment goals, enabling policyholders to make informed decisions about their financial future. With the introduction of the Dividend Yield Fund, Aditya Birla Sun Life Insurance is poised to strengthen its position in the Indian insurance market and provide policyholders with a unique investment opportunity.
Preventive care is becoming a priority in Indian health insurance, according to Mayank Bathwal of ABHI.
The healthcare costs in India are rising, and as a result, preventive care is becoming a key focus for insurers. Despite progress in coverage, over 60% of healthcare expenses are still borne directly by households, highlighting gaps in traditional insurance models. Mayank Bathwal, CEO of Aditya Birla Health Insurance, explains that conventional health insurance has historically focused on hospitalization, leaving everyday healthcare expenses, such as outpatient consultations and chronic disease management, largely uncovered.
To address this issue, insurers are expanding coverage to include outpatient and preventive care, which helps manage expenses more predictably and reduces avoidable hospitalizations. Affordability is also a challenge that cannot be solved by pricing alone, and reducing healthcare costs through better coordination and promoting preventive care is essential. Innovation in product design and distribution is also crucial to engage first-time buyers, particularly younger consumers who value clarity, relevance, and ease of use.
The use of AI-enabled tools and assisted-digital models can simplify discovery and onboarding, while also enabling insurers to provide faster and consistent service. Building trust and retention is also important, and programs such as ABHI’s HealthReturns, which rewards policyholders for healthy behavior, can help shift the perception of insurance from a reluctant purchase to a valued product.
Collaboration across insurers, healthcare providers, and policymakers is critical to creating a comprehensive health ecosystem. Digital infrastructure, such as ABHA and Bima Sugam, is creating transparency, improving claims processing, and enabling more predictable pricing. Sustained dialogue between providers and insurers helps align treatment protocols and pricing, ultimately benefiting both customers and the insurance ecosystem.
ABHI’s broader vision is to move from a reactive, hospital-focused model to a comprehensive health ecosystem, with a focus on chronic condition management and wellness initiatives. This approach aligns customer health outcomes with the insurer’s sustainability goals and marks a significant shift in the role of health insurance in India. By expanding coverage to outpatient and preventive care, promoting affordability, and building trust and retention, insurers can provide more comprehensive and sustainable healthcare solutions for their customers.
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Preventive care is gaining prominence in Indian health insurance, according to Mayank Bathwal of ABHI.
The rising healthcare costs in India have led to a shift in focus towards preventive care, particularly in addressing the significant out-of-pocket spending burden on households. Despite progress in coverage, over 60% of healthcare expenses are still borne directly by households, highlighting the gaps in traditional insurance models. Mayank Bathwal, CEO of Aditya Birla Health Insurance, emphasized that conventional health insurance has historically focused on hospitalization, leaving everyday healthcare expenses largely uncovered.
To address this, insurers are expanding coverage to include outpatient and preventive care, which helps manage expenses more predictably and reduces avoidable hospitalizations. Affordability is also a challenge that cannot be solved by pricing alone, and reducing healthcare costs through better coordination, promoting preventive care, and improving the health profile of insured customers are key levers. Innovation in product design and distribution is essential to engage first-time buyers, particularly younger consumers who value clarity, relevance, and ease of use.
The use of AI-enabled tools and assisted-digital models can simplify discovery and onboarding, while also enabling insurers to provide faster, consistent service. Building trust and retention is also crucial, and programs such as ABHI’s HealthReturns, which rewards policyholders for healthy behavior, can help shift the perception of insurance from a reluctant purchase to a valued product.
Collaboration across insurers, healthcare providers, and policymakers is critical in creating a comprehensive health ecosystem. Digital infrastructure such as ABHA, Bima Sugam, and the National Health Claims Exchange is creating transparency, improving claims processing, and enabling more predictable pricing. Sustained dialogue between providers and insurers helps align treatment protocols and pricing, ultimately benefiting both customers and the insurance ecosystem.
ABHI’s broader vision is to move from a reactive, hospital-focused model to a comprehensive health ecosystem, with chronic condition management programs and digital tools that allow customers to track their health and participate in wellness initiatives. This approach aligns customer health outcomes with the insurer’s sustainability goals and marks a significant shift in the role of health insurance in India. By prioritizing preventive care, affordability, and customer engagement, insurers can create a more sustainable and effective healthcare system.
Policybazaar introduces a 100% claim settlement option for planned hospitalisations on select health insurance policies.
Policybazaar, a leading insurance marketplace, has introduced a 100% claim promise on planned hospitalizations for select health insurance policies. This initiative aims to provide a hassle-free and cashless experience for policyholders, ensuring zero deductions on eligible hospital bills. The benefit is available on specific plans from Bajaj Allianz, Niva Bupa, and Aditya Birla Health Insurance (ABHI).
To avail of this benefit, policyholders must complete certain pre-admission steps and meet policy conditions. These steps include informing the Third-Party Administrator (TPA) 48 hours before hospitalization and choosing a hospital from the insurer’s network. The network includes over 10,000 partner hospitals for Bajaj Allianz, over 2,100 hospitals for Niva Bupa, and a panel of hospitals for ABHI.
The policy-specific details vary across insurers. For Bajaj Allianz, the benefit is available for both new and ported policies with any sum insured, provided a consumables rider is added. For ABHI, the benefit is applicable only to new policies with a minimum sum insured of ₹10 lakh, and pre-admission intimation is required. For Niva Bupa, the benefit is available for both new and ported policies with a minimum sum insured of ₹10 lakh, and the customer must notify the claim team 48 hours prior.
Policybazaar has stated that this initiative will streamline documentation and coordination with hospitals, reducing delays and enhancing the cashless experience. However, claims will not be paid in cases of non-disclosure, waiting periods, or exclusions as per policy terms. The 100% claim promise does not apply to emergency hospitalizations, which will continue to be processed under standard policy terms.
According to Siddharth Singhal, Head of Health Insurance at Policybazaar, this initiative aims to alleviate financial worries during hospitalization, allowing policyholders to focus on their recovery. With this move, Policybazaar aims to provide a more customer-centric and hassle-free experience for its policyholders. The introduction of this benefit is expected to enhance the overall customer experience and increase trust in the insurance marketplace.
On October 8, 2025, insurance agents and associations are likely to raise the issue of Goods and Services Tax (GST) with the Insurance Regulatory and Development Authority of India (IRDAI) and the Finance Ministry.
The insurance industry in India is facing a significant issue related to the Goods and Services Tax (GST) and Input Tax Credit (ITC). Private insurers have reduced distributor payouts by 15-18% to offset the loss of ITC, following the GST exemption on life and health insurance premiums. This move is expected to have a significant impact on agents, brokerages, and individual advisors, particularly small and independent operators. The reduction in payouts will directly cut into their working capital, leading to reduced take-home income and morale, especially in smaller towns and rural markets.
The current GST framework, if left unadjusted, may set a precedent where insurers maintain profitability by squeezing distribution costs rather than improving efficiency. Industry associations and agents are likely to take up the issue with the Insurance Regulatory and Development Authority of India (IRDAI) and the Finance Ministry. The President of the General Insurance Agents Federation Integrated stated that the change will shrink access to insurance, which is against the Prime Minister’s vision of Insurance for All by 2047.
In contrast, Life Insurance Corporation (LIC) and other public sector insurers have decided to maintain existing commission structures, even as they pass the full GST relief to policyholders. LIC plans to offset the impact through higher policy sales and new product pricing. Public sector general insurers, including New India Assurance, Oriental Insurance, United India Insurance, and National Insurance, have also opted against cutting commissions, choosing instead to absorb the ITC loss.
Private insurers, on the other hand, are passing on the ITC burden to agents because their business models and cost structures leave little room to absorb additional expenses. The removal of ITC has raised operating costs by roughly 2-3% of premiums, and private companies must adhere to stricter IRDAI Expense of Management (EoM) caps. Absorbing this loss would directly dent profitability and risk regulatory breaches. Several private general and standalone health insurers, including Tata AIG, Aditya Birla Health Insurance, Niva Bupa, Care Health, and ICICI Lombard, have implemented revised commission structures, making payouts inclusive of 18% GST, which means distributors will bear the tax cost.
National Insurance Awareness Day: Insurers Increasingly Invest in Wellness as Health Plans Undergo Transformation
The health insurance landscape in India is undergoing a significant transformation, shifting from a traditional safety net for emergencies to a wellness partner that encourages policyholders to adopt healthier lifestyles. Insurers are now incorporating wellness-linked benefits into mainstream health plans, using digital tools such as walk-tracking apps, nutrition coaches, and teleconsultations to promote preventive care and reduce long-term healthcare costs. These initiatives are changing the way people engage with insurance and how insurance companies view risk.
Insurers are using behavior-based incentives, such as rewards for exercising, completing check-ups, or maintaining a healthy lifestyle, to encourage policyholders to prioritize their health. These rewards can be redeemed for premium discounts, savings on diagnostic tests, or other benefits. For example, Aditya Birla Health Insurance’s HealthReturns program allows customers to earn rewards for walking 10,000 steps or burning calories, which can be used to pay for outpatient bills or pharmacy expenses.
The use of technology, such as wearables and health apps, is also poised to revolutionize the underwriting process, allowing insurers to assess risk more accurately and offer personalized premiums. Insurers are using real-time health data to design more responsive offerings and provide everyday support to policyholders, including mental health support, fitness guidance, and pet care.
Industry leaders believe that awareness about the benefits of health insurance is still low, particularly among younger or healthier individuals. To bridge this gap, insurers are using gamified tools, AI-driven reminders, and personalized nudges to make wellness engaging and accessible. They are also committed to providing convenient, digital-first experiences that put customers first.
The shift towards wellness-based insurance is expected to have a positive impact on the healthcare system, encouraging people to prioritize preventive care and reducing the burden of lifestyle-related diseases. As Parthanil Ghosh, Executive Director of HDFC ERGO General Insurance, noted, “Insurance is no longer an afterthought — it’s becoming an active partner in daily life.” With the integration of health tech, insurers will be able to assess and reward wellness behavior more effectively, enabling inclusive coverage across India.
The latest claim settlement ratio of health and general insurance companies was released by IRDA in 2025. According to the data, Navi and Acko have taken the lead, while Star Health and Zuno have fallen below the 90% mark.
The rising medical inflation has made it challenging for individuals to bear medical expenses without a comprehensive health insurance policy. In India, the Insurance Regulatory and Development Authority (IRDAI) releases an annual list of claim settlements by health and general insurance companies. The claim settlement ratio, which refers to the percentage of claims paid or settled by an insurer, is a reliable way to assess an insurer’s efficiency.
According to the latest figures for 2023-2024, the general insurers paid out a total of 71,200,854 claims, with 81.13% of total claims paid within 3 months of claim intimation. Among private general insurers, Acko General Insurance and Navi General Insurance Ltd led with claim settlement ratios of 99.91% and 99.97%, respectively. Zuno General Insurance Co. Ltd had the lowest claim settlement ratio among private sector insurers, with 83.12% of claims paid within 3 months.
Among public insurers, The Oriental Insurance Co. Ltd had the lowest claim settlement ratio, with only 65.08% of claims paid within 3 months. United India Insurance Co. Ltd had the highest claim settlement ratio among public insurers, with 96.33% of claims paid within 3 months.
For stand-alone health insurers, Aditya Birla Health Insurance Company had the highest claim settlement ratio within 3 months, at 92.97%. Care Health Insurance and Niva Bupa Health Insurance followed closely, with claim settlement ratios of 92.77% and 92.02%, respectively. Star Health and Allied Insurance Co. Ltd had the lowest claim settlement ratio among stand-alone health insurers, with 82.31% of claims paid within 3 months.
While checking the claim settlement ratio is necessary, it should not be the sole basis for finalizing a health or general insurance company. Other factors such as the sum insured, waiting period for various illnesses, and network of hospitals offered should also be considered.
The IRDAI data also reveals that during 2023-24, 16.3% of total claims were paid out between 3-6 months, indicating that some insurers may have delayed claim settlements. It is essential for policyholders to review the claim settlement ratio and other factors before selecting an insurer to ensure they receive adequate and prompt financial assistance in case of medical emergencies.
Overall, the claim settlement ratio is a crucial factor in assessing an insurer’s efficiency, and policyholders should carefully evaluate this metric along with other factors before making an informed decision. By doing so, they can ensure that they have a comprehensive health insurance policy that provides them with the necessary financial protection in case of medical emergencies.
The insurance industry is seeking government assistance to extend Input Tax Credit (ITC) benefits to include distribution costs and renewals, according to the CEO of Aditya Birla Sun Life Insurance.
The life insurance industry in India is planning to approach the government with new demands after the GST Council recently exempted individual life and health insurance policies from tax. The industry’s primary request is to extend input tax credit (ITC) benefits to distribution costs and renewal premiums of past policies, even under the new zero-GST regime. According to Kamlesh Rao, MD & CEO of Aditya Birla Sun Life Insurance, distribution costs are similar to reinsurance costs, which have already been exempted, and the industry is seeking a similar exemption.
The exemption of GST on individual life and health insurance policies is expected to bring significant relief to the protection business, where GST previously stood at 18%. Customers will now pay around ₹104-105 instead of ₹118 for every ₹100 premium. However, the impact on savings products will be limited, as GST on these products is around 4-4.5%. The exemption will have a minimal effect on the embedded value of insurance companies, as it applies to renewal premiums as well.
Despite the benefits of the GST exemption, insurers are likely to face challenges due to the inability to claim ITC on ongoing servicing costs, which will remain a burden. Insurers may need to absorb around 3-5% of the 18% GST benefit, while around 12-13% will flow directly to customers. However, the move is expected to strengthen the sector’s long-term growth prospects, as it will help narrow the protection gap and increase insurance penetration in India.
Rao emphasized that the GST cut is in line with the government’s aspiration to ensure that everyone has insurance by 2047. He believes that the move is a welcome step in this direction, despite the cost challenges that insurers may face. The industry is expected to absorb part of the change, and the exemption will ultimately benefit customers and contribute to the growth of the life insurance sector in India. Overall, the GST exemption is a positive development for the life insurance industry, and the industry is seeking further relief from the government to support its growth.
More competition may benefit policyholders, according to Aditya Birla Health Insurance CEO Mayank Bathwal.
Aditya Birla Health Insurance CEO, Mayank Bathwal, discussed the benefits of the new insurance bill, Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, and its potential to increase competition and improve penetration in the market. With the FDI limit raised to 100%, Bathwal expects new players to enter the market, bringing innovation and better offerings for consumers. However, he emphasizes that increasing FDI alone will not achieve the goal of “insurance for all by 2047,” and that consistent work on awareness, product offerings, and customer feedback is also necessary.
Bathwal also addressed the issue of conflicts between hospitals and insurers, stating that dialogue is the only way to resolve these issues. He mentioned that the industry is seeking predictability of costs from hospitals, which would enable insurers to price their products more accurately and make healthcare more affordable for consumers. Common empanelment, a platform where hospitals can gain access to all health insurers, is being explored as a potential solution.
The removal of GST on health insurance has led to a positive traction in policy purchases, with renewal rates and ticket sizes increasing. Bathwal hopes that this trend will continue, especially in segments where affordability was an issue, such as for senior citizens or the missing middle.
Bathwal also discussed Aditya Birla Health Insurance’s focus on creating a “health ecosystem” and promoting preventive care. The company aims to build long-term relationships with consumers and provide incentives for good health behavior, rather than just focusing on sickness funding. This approach has yielded encouraging results, with the company paying 9% of its customers some benefit for good health last year.
In terms of customer complaints, Bathwal acknowledged that the health insurance industry has the maximum number of complaints, but attributed this to the large number of claims processed. He emphasized the need for transparency and clarity in policy terms and conditions, and the importance of leveraging technology, such as AI, to process claims quickly and efficiently.
Overall, Bathwal emphasized the need for collaboration and dialogue between stakeholders to address the challenges facing the health insurance industry, and to create a more sustainable and affordable healthcare system for consumers. He also highlighted the importance of preventive care and promoting good health behavior, and the potential for technology to improve the claims process and customer experience.
Farhan Akhtar leads Aditya Birla Sun Life Insurance’s new #YeAkelaHiKaafiHai campaign for Super Term Plan
Aditya Birla Sun Life Insurance Company Limited (ABSLI) has launched a new campaign, #YeAkelaHiKaafiHai, to promote its newly introduced Super Term Plan. The campaign features actor, director, and musician Farhan Akhtar, who showcases the plan’s unique benefits in a series of digital films. The Super Term Plan is a comprehensive insurance solution that offers life cover, critical illness protection, health services, and income security all in one.
According to Kamlesh Rao, MD & CEO of ABSLI, the plan is designed to meet the evolving protection needs of today’s customers, who seek a single plan that can provide total protection across life, health, and income. The plan offers flexibility, with customers able to choose from three options: Level Cover, Increasing Cover, and Level Cover with Return of Premium. Additionally, it provides built-in Health Management Services and Enhanced Life Stage Protection for milestones such as marriage or childbirth.
The campaign highlights the plan’s key features, including the return of premium, flexibility in receiving death benefits, and instant claim pay-out. The digital films featuring Farhan Akhtar bring alive the product’s benefits in a witty and engaging way, showcasing how the Super Term Plan can provide total protection and peace of mind. For example, one film shows Farhan delivering a scene in multiple moods, emphasizing the plan’s flexibility, while another film highlights the return of premium feature.
The ABSLI Super Term Plan also offers a Cover Continuance Benefit, which keeps protection intact even after missed premiums, allowing customers to miss up to 12 premiums (one full year) without losing coverage. This feature provides customers with the confidence that they are protected, even if they miss a payment. With its comprehensive features and flexibility, the ABSLI Super Term Plan aims to empower individuals to make informed choices and provide them with the confidence that “one plan is truly enough.”
Overall, the #YeAkelaHiKaafiHai campaign effectively communicates the benefits of the Super Term Plan, positioning it as a single, powerful solution that can deliver total protection across life, health, and income. By highlighting the plan’s unique features and flexibility, ABSLI aims to redefine comprehensive insurance and provide customers with a sense of security and confidence.
The Bengaluru consumer panel has ruled that a hospital’s delay is not a valid reason for an insurer to deny a claim, ordering the insurance company to pay Rs 2.6 lakh.
The Bangalore Urban II Additional District Consumer Disputes Redressal Commission has ordered Aditya Birla Health Insurance to pay a claim of Rs 2.6 lakh to a policyholder, Latha K, after the company denied her claim citing a delay in hospital paperwork. Latha’s son, Pavan, was admitted to KK Hospital in July 2023 after a road accident and underwent treatment for a facial fracture. Despite having a valid insurance policy with a cover of Rs 5 lakh, the family was forced to pay the hospital bill of over Rs 2.6 lakh due to the insurer’s denial of the cashless claim.
The hospital had delayed informing the insurer about Pavan’s admission, which led to the denial of the claim. Latha filed a reimbursement claim, but the insurer raised queries and rejected it, citing “bill pendency.” The hospital later admitted to the delay and provided a letter confirming full payment, but the insurer still did not reimburse the claim.
Latha, a widow with two children, had to borrow money to clear the hospital bill and faced mental agony and trauma due to the repeated rejections. She filed a consumer complaint in March 2024, alleging deficiency in service and unfair trade practices. The commission heard both sides and reviewed the documents, noting that the insurer had unjustly delayed the settlement of a genuine medical reimbursement claim.
The commission observed that there was no dispute over the issuance of the insurance policy and that the family had spent over Rs 2.6 lakh for the treatment. The insurer’s repeated denials of the claim, citing late intimation by the hospital, were deemed invalid. The commission stated that there was a deficiency in service as the insurer had not settled the genuine claim without valid reasons.
The commission ordered Aditya Birla Health Insurance to pay Rs 2.6 lakh along with 6% interest from September 19, 2023, and Rs 20,000 for mental agony. The complaint against the hospital was dismissed, as the commission found that the hospital’s role was limited to treating Pavan and that any liability lay entirely with the insurer. The commission’s order highlights the importance of insurers settling genuine claims in a timely and fair manner, without relying on flimsy excuses or technicalities.
Vodafone Idea has introduced a family travel international roaming plan, offering a discount of up to 25% for specific users.
Vi, formerly known as Vodafone Idea, has introduced a unique international roaming (IR) offer targeted at family travelers. The telecom company is providing discounts on IR packs for secondary members on its Family Postpaid plans. Secondary members on Vi Family Postpaid plans will receive a 10% discount, while REDX Family subscribers will receive a 25% discount on IR packs. These discounts are applicable to 10-day, 14-day, and 30-day packs starting at Rs 2,999.
This move comes as outbound travel from India continues to rise, with 30.89 million Indians traveling abroad in 2024, a 10.79% year-on-year increase. Industry data shows that 59% of Indians travel with a spouse or partner, while 26% travel with other family members. Vi’s Family Postpaid plans start at Rs 701 for two to five members, with the option to add up to eight secondary members to an account for Rs 299 per member.
The company has also launched its REDX Family Plan, priced at Rs 1,601 per month for two members, offering unlimited data, international roaming benefits, and premium services. This plan includes four complimentary airport lounge visits annually, a seven-day IR pack worth Rs 2,999 once a year, and a 25% discount on an additional IR pack.
Additionally, Vi has partnered with Aditya Birla Health Insurance to offer travel insurance of Rs 40 lakh at Rs 285 with all IR packs. This insurance covers medical emergencies, evacuation, baggage loss or delay, and trip interruptions for the duration of a single international trip. Vi has also partnered with Blue Ribbon Bags to offer delayed baggage protection for Rs 99, allowing IR customers to claim Rs 19,800 per bag for up to two bags in case of loss or delay.
Overall, Vi’s new international roaming offer is designed to provide family travelers with convenient and affordable IR solutions, making it easier for them to stay connected while traveling abroad. With its discounted IR packs, travel insurance, and delayed baggage protection, Vi aims to provide a comprehensive and hassle-free international roaming experience for its customers.
Aditya Birla Capital has strengthened Aditya Birla Housing Finance Limited (ABHFL) with an investment of Rs 249 crore.
Aditya Birla Capital Limited (ABCL) has invested Rs 249 crore in its subsidiary, Aditya Birla Housing Finance Limited (ABHFL), through a rights issue. This is the second infusion of funds into ABHFL, following a previous investment of Rs 300 crore. The additional capital will enable ABHFL to pursue new growth opportunities, expand its lending portfolio, and enhance its ability to serve a wider customer base. The investment aims to support ABHFL’s growth plans and improve its leverage ratio, while maintaining ABCL’s 100% ownership.
The capital infusion is part of ABCL’s strategy to strengthen its housing finance arm and support its expansion plans. ABCL’s board has also approved a plan to raise Rs 1,65,000 crore through the issuance of debt securities, including non-convertible debentures, to further support its funding requirements and future growth initiatives. This substantial fundraising plan highlights the company’s proactive approach to capital management and its readiness to seize emerging opportunities in the market.
ABCL’s lending portfolio has expanded by 27% year-on-year to reach Rs 1,57,404 crore as of March 31, 2025. The company’s total assets under management have also increased by 17% to Rs 5,11,260 crore. The group’s insurance arms have seen a 22% year-on-year rise in total premiums collected, amounting to Rs 25,579 crore in the financial year 2024-25.
The investment in ABHFL demonstrates ABCL’s strategic focus on supporting subsidiary growth and maintaining financial stability. By strengthening the capital structure of its housing finance arm, ABCL is well-positioned to capitalize on the growing demand for home loans and related financial services, reinforcing its leadership in India’s financial sector. The company’s proactive approach to capital management and its ability to seize emerging opportunities in the market are expected to drive growth and expansion in the future.
Overall, the investment in ABHFL is a significant step towards achieving ABCL’s growth objectives and maintaining its position as a leader in the financial services sector. The company’s focus on maintaining a robust capital base and its ability to adapt to changing market conditions are key factors that will drive its success in the future. With its strong financial foundation and strategic approach to growth, ABCL is poised to continue its expansion and reinforce its position in the Indian financial sector.
Momentum is considering an initial public offering (IPO) for its joint venture with Indian billionaire Kumar Mangalam Birla.
Momentum Group Ltd, a South African insurer, is considering an initial public offering (IPO) for its Indian venture, Aditya Birla Health Insurance Co. The company, which has $172 million in excess capital, plans to spend a third of this amount to expand its businesses in South Africa and add new services in India. Momentum’s CEO, Jeanette Marais, stated that the Indian market has “massive potential” and the company would rather invest in high-growth markets like India.
Momentum controls about 44% of Aditya Birla Health Insurance Co and has pared back its African businesses in recent years, exiting Nigeria, Kenya, and Ghana. The company now operates in Mozambique, Namibia, Botswana, and Lesotho. Aditya Birla Health has reached break-even after its normalized headline earnings jumped 76% in the year to June.
The company’s interest in expanding in India is driven by the country’s high growth potential, with the International Monetary Fund forecasting a 6.2% expansion this year. This is significantly higher than South Africa’s 1% growth, making India an attractive market for investment. Momentum’s homegrown rival, Sanlam Ltd, is also expanding in India, and global financial firms like BlackRock Inc are increasing their presence in the country.
Momentum’s CEO, Jeanette Marais, stated that an IPO in India could be a possibility in the future, but the company wants to do it when the time is right and the market is favorable. The company’s unit, Guardrisk, also plans to enter India, providing alternative risk financing and insurance solutions. Momentum has reported a 55% increase in headline earnings to a record $432 million and a 41% increase in normalized headline earnings to $453 million, putting the company on track to meet its 2027 target of $502 million.
Overall, Momentum Group Ltd is positioning itself for significant growth in India, with a potential IPO on the horizon. The company’s expansion plans in India are driven by the country’s high growth potential and the increasing demand for financial services. With its strong financial performance and growing presence in India, Momentum is well-placed to capitalize on the opportunities in this rapidly growing market.
India Post Payments Bank has partnered with Aditya Birla Capital Limited to enhance accessibility to loan products across the country.
India Post Payments
Aditya Birla Capital has achieved a milestone by becoming the first entity to integrate its financial services on the Open Network for Digital Commerce (ONDC) platform.
Aditya Birla Capital has become the first financial services company to integrate lending, insurance, and investments on the Open Network for Digital Commerce (ONDC). ONDC is a government initiative that aims to create an open and interoperable e-commerce network, promoting inclusivity and competition in digital commerce. By offering these services, Aditya Birla Capital provides easier access to financial products, contributing to the development of the financial services ecosystem on ONDC.
As a Wave-1 participant, Aditya Birla Capital has played a crucial role in building the infrastructure for others to join. The company’s personal loans, health insurance, and mutual fund services are available on the ONDC platform through multiple buyer apps, enabling users to access these financial products without downloading extra applications. This integration matches ONDC’s goal of building interoperable networks that link buyers and sellers across apps.
Vishakha Mulye, CEO of Aditya Birla Capital, stated that the company’s integration with ONDC will allow them to serve the unmet financial needs of individuals in India, particularly those without access to formal credit, insurance, and investment options. T. Koshy, CEO of ONDC, noted that this move will increase ONDC’s offerings and support financial inclusion.
ONDC connects over 200 apps, enabling interactions between buyers and sellers and allowing buyers to use any app to buy products or services, regardless of the app their seller uses. This promotes interoperability and access, making it easier for individuals to access financial products and services. Aditya Birla Capital, part of the $65 billion Aditya Birla Group, offers a range of financial solutions, including loans, investments, insurance, and payments, operating across India with over 1,470 branches, 2,00,000 agents, and 55,000 employees.
The integration of Aditya Birla Capital with ONDC is expected to increase financial inclusion and provide easier access to financial products for individuals in India. With ONDC’s goal of building an open and interoperable e-commerce network, this partnership is a significant step towards achieving this objective. The move is also expected to promote competition and inclusivity in digital commerce, ultimately benefiting individuals and businesses in India.
Aditya Birla Sun Life Insurance introduces the Super Term Plan, offering a comprehensive protection package that includes life, health, and income protection features.
Aditya Birla Sun Life Insurance Company (ABSLI) has introduced a new term insurance policy called the Super Term Plan, which offers a comprehensive solution for customers seeking life cover, income protection, and health support. The plan provides three flexible coverage options: Level Cover, Increasing Cover, and Level Cover with Return of Premium.
The Level Cover option pays a fixed sum assured on the policyholder’s death, which can be received as a lump sum, monthly income, or a combination of both. The Increasing Cover option increases the sum assured by 5% annually, offering growing protection over time. The Level Cover with Return of Premium option pays a fixed death benefit and returns 100% of the premiums paid if the policyholder survives the term.
The Super Term Plan also includes built-in health management services, allowing policyholders to monitor and manage their health throughout the policy term. A key feature of the plan is Enhanced Life Stage Protection, which enables policyholders to increase their sum assured on major life events such as marriage, childbirth, or taking a home loan. This option must be selected at the start of the policy.
The plan offers fast claim processing through an Instant Payment on Claim Intimation facility, where a specified amount is paid within one working day of claim registration. Policyholders can choose from three pay-out modes for death benefits: lump sum, equal monthly income, or income plus lump sum. Additionally, nominees can receive monthly income for five years under the Staggered Death Benefit option and can convert the monthly pay-outs into a lump sum under the Commutation of Income Benefit.
ABSLI has developed the Super Term Plan to address the evolving needs of customers seeking a comprehensive solution for life cover, income continuity, and well-being. With this plan, ABSLI aims to provide financial security tailored to customer needs. As of March 31, 2025, ABSLI managed assets worth ₹99,496 crore and had over 20 lakh active customers. The company is the life insurance arm of Aditya Birla Capital Ltd and a joint venture with Sun Life Financial Inc., Canada.
Aditya Birla Capital Wins 6 Metals at e4m NEONS OOH Awards 2025
Aditya Birla Capital, a leading financial services company, has won six metals at the e4m NEONS OOH Awards 2025 for its three standout campaigns: “Aap Boodhe Hoke Kya Banoge?”, “Activ One – ABHI Karo”, and “India, Ab Hadh Kar De”. These campaigns were recognized for their impact and effectiveness in reaching their target audiences. The “Aap Boodhe Hoke Kya Banoge?” campaign aimed to raise awareness about the importance of retirement planning, while the “Activ One” campaign promoted a comprehensive health insurance product. The “India, Ab Hadh Kar De” campaign, on the other hand, was designed to inspire national pride and motivate individuals to pursue their dreams as part of Aditya Birla Capital’s sponsorship of the Indian team at the Paris 2024 Olympics.
The campaigns were executed by Platinum Outdoor, which also won the “OOH Agency of the Year 2025” award for the third consecutive year. The agency used eye-catching visuals, impactful placements, and innovations to bring the campaigns to life. Darshana Shah, CMO of Aditya Birla Capital, expressed pride in the recognition and attributed the success to the strategic planning and partnership between the company and Platinum Outdoor.
Dipankar Sanyal, CEO of Platinum Outdoor, also commented on the win, stating that it was exciting to work with dynamic brands like Aditya Birla Capital and that the recognition was a testament to the power of good ideas and teamwork. Platinum Outdoor is part of Madison World, India’s largest homegrown communication agency, which operates several brands in the out-of-home (OOH) advertising space.
The awards recognize the effectiveness of Aditya Birla Capital’s marketing efforts and its ability to connect with its target audience through innovative and impactful campaigns. The company’s commitment to delivering inclusive and health-focused insurance plans, as well as its support for national pride and motivation, has resonated with the audience. The win is a significant achievement for Aditya Birla Capital and Platinum Outdoor, and it highlights the importance of strategic planning, partnership, and innovation in achieving marketing success.
Aditya Birla Health Insurance has appointed Swati Kulkarni as its new Head of Health Management.
Aditya Birla Health Insurance Company Limited has appointed Swati Kulkarni as its new Head of Health Management. Kulkarni brings over 20 years of experience in entrepreneurship and corporate leadership to the role, having previously co-founded and served as CEO of Elda Health, a company specializing in women’s health and wellness. Her background also includes significant leadership roles at several prominent companies, including Nua Woman, Inksedge, Komli Media, Intel Corporation, and Cognizant.
Kulkarni holds an MBA from the Indian School of Business and an MS in Software Systems from the Birla Institute of Technology and Science, Pilani, combining her business acumen with technological innovation. In her new role, she will spearhead health management initiatives, further solidifying Aditya Birla Health Insurance’s commitment to delivering comprehensive healthcare solutions.
As the new Head of Health Management, Kulkarni’s mission is to help people lead healthier, happier, and longer lives. She expressed her excitement to join the company, stating that she is thrilled to embark on this new journey with the Aditya Birla Health Insurance team. With her extensive experience and expertise, Kulkarni is well-positioned to drive business growth and consumer-centric strategies, aligning with the company’s goals.
The appointment of Kulkarni as Head of Health Management is a significant development for Aditya Birla Health Insurance, as it reinforces the company’s commitment to delivering comprehensive healthcare solutions. With Kulkarni at the helm, the company is poised to further strengthen its health management initiatives, ultimately benefiting its customers and contributing to the overall growth of the healthcare industry.
Kulkarni’s leadership and expertise will be invaluable in driving Aditya Birla Health Insurance’s health management initiatives forward, and her passion for helping people lead healthier lives will undoubtedly have a positive impact on the company’s mission. As the healthcare industry continues to evolve, the appointment of Kulkarni as Head of Health Management is a significant step forward for Aditya Birla Health Insurance, and it will be exciting to see the impact she makes in her new role.
The Consumer Disputes Redressal Forum has directed an insurance company to pay compensation to a policyholder for wrongfully denying an accident claim.
The Ernakulam district consumer disputes redressal commission in Kochi has ordered Aditya Birla Health Insurance Company to compensate a policyholder, Joy Paulose, for wrongfully denying a legitimate claim for accident treatment expenses. The insurance company had cited ‘non-disclosure of pre-existing conditions’ as the reason for denying the claim. However, the commission found this reasoning to be unlawful and against the principles of the insurance contract and Consumer Protection Act.
Paulose had taken out an insurance policy on January 17, 2024, and was involved in an accident on February 2, 2024, where he fell 10 feet at his residence, resulting in serious injuries, including rib fractures, pneumothorax, and a hand fracture. He was treated at a private hospital in Kolenchery and incurred medical expenses of Rs 81,042. Despite seeking cashless treatment under the policy, the insurance company rejected the request and later denied the claim, alleging that Paulose had not disclosed pre-existing ailments.
The commission, comprising Chairman D B Binu and members V Ramachandran and T N Srividya, ruled in favor of Paulose, stating that the insurance company’s action was unacceptable and a clear case of deficiency in service and unfair trade practice. The commission observed that it is the joint responsibility of the insurance sector and the legal system to protect the legitimate rights of consumers.
As a result, the commission ordered the insurance company to pay the claim amount of Rs 81,042 with an annual interest of 12%, as well as compensation of Rs 30,000 and court costs of Rs 5,000, totaling Rs 116,042. The payment must be made within 45 days. The commission’s decision highlights the importance of protecting consumer rights and ensuring that insurance companies do not unfairly deny legitimate claims. The case serves as a reminder to insurance companies to act in accordance with the principles of the insurance contract and Consumer Protection Act.
Insurers may pass on the best benefits to customers following GST cuts, according to Edme Insurance Brokers’ COO.
Edme Insurance Brokers Ltd., formerly Aditya Birla Insurance Brokers Ltd., is working closely with insurers to determine the pricing of products following the GST Council’s decision to reduce the GST on individual life and health insurance policies from 18% to 0%. According to Gaurav Gupta, Chief Operating Officer of Edme Insurance Brokers Ltd, the reduction in GST will impact insurers’ ability to avail input tax credit, which was previously used for brokerage, commission, and overhead purposes.
As a result, insurers will need to adjust their pricing to align with the absence of input tax credit. While the entire benefit of the GST cut may not be passed on to consumers, Gupta believes that insurers will aim to provide the best possible option to customers. The rate cut benefit is expected to be passed on to renewals, although there may be revisions in renewal terms.
Gupta predicts that insurers will take some time to come to a consensus on pricing, especially for new products. However, he expects the penetration of individual policies to increase, particularly from January when people start looking at buying policies for tax purposes. In the next one or two months, insurers are expected to sort out their pricing, leading to increased penetration of individual policies.
In related news, Edme Insurance Brokers Ltd has expanded its operations through the acquisition of UK-based UIB’s India operations and subsequent merger. According to Jonika Jain, Chief Human Resources Officer, the company has become the third-largest insurance broker in India, providing insurance and risk advisory services to businesses and individuals across commercial insurance, reinsurance, and personal coverage.
The company plans to increase its headcount from 500 to 1,000 in the next five years and expand its operations in the UAE, UK, and Singapore. With its growing presence, Edme Insurance Brokers Ltd is well-positioned to capitalize on the opportunities presented by the GST reduction and increasing demand for individual life and health insurance policies. As the insurance industry continues to evolve, Edme Insurance Brokers Ltd is poised to play a significant role in shaping the market and providing innovative solutions to its customers.
Aditya Birla Capital has appointed Vishakha Mulye as its new Managing Director and Chief Executive Officer.
Vishakha Mulye is a seasoned executive and the current Managing Director and CEO of Aditya Birla Capital Limited (ABCL). She has been instrumental in driving the company’s transformative journey, anchored on the principles of ‘One Customer, One Experience, and One Team’. Under her leadership, ABCL has expanded its offerings across various financial services, including loans, investments, insurance, and payments. The company has also developed an omnichannel D2C platform, delivering comprehensive financial solutions through its mobile app, ‘ABCD’.
Mulye has been instrumental in introducing new initiatives, such as ‘Udyog Plus’, a digital B2B lending platform that offers business loans, supply chain financing, and value-added services to the MSME ecosystem. She has also led the amalgamation of Aditya Birla Finance Ltd. with Aditya Birla Capital Limited, enabling better access to capital and driving operational synergies.
Mulye serves on the board of several operating companies, including Aditya Birla Housing Finance Limited, Aditya Birla Sun Life AMC Limited, and Aditya Birla Health Insurance Co. Limited. She is also a director on the board of Aditya Birla Capital Foundation and an independent director on the board of NPCI International Payments Limited.
Before joining the Aditya Birla Group, Mulye held various leadership positions at the ICICI Group, where she led significant strategic transformations. She oversaw the domestic and international Wholesale Banking, Proprietary Trading, Markets, and Transaction Banking services as Executive Director on the Board of ICICI Bank. Mulye also served as the MD and CEO of ICICI Venture Funds Management Company Limited and as the Group CFO at ICICI Bank.
Throughout her career, Mulye has played a pivotal role in driving mergers and acquisitions! She led the merger of ICICI and ICICI Bank, which led to the formation of the second-largest private sector bank in India. Mulye is a member of the Aspen Institute’s ‘India Leadership Initiative’ and served as the Deputy Co-Chair of CII’s National Forum on NBFC & HFCs 2023-24. With her extensive experience and leadership expertise, Mulye continues to drive growth and innovation in the financial services industry.
Motilal Oswal
Aditya Birla Capital (ABCAP) has released its 2QFY26 consolidated results, showcasing a 4% year-over-year (YoY) increase in revenue to approximately INR124.8 billion. The company’s consolidated profit after tax (PAT), excluding one-off items, grew 3% YoY to around INR8.55 billion. The overall lending book, comprising both non-banking financial companies (NBFC) and housing, exhibited a significant 29% YoY growth and a 7% quarter-over-quarter (QoQ) increase, reaching approximately INR1.78 trillion.
The company’s assets under management (AUM) across its asset management company (AMC), life insurance, and health insurance divisions grew 10% YoY to INR5.5 trillion. Specifically, the mutual fund quarterly average AUM saw an 11% YoY increase to INR4.25 trillion. In the life insurance segment, the individual first-year premium (FYP) grew 19% YoY to INR18.8 billion in the first half of FY26, while the health insurance gross written premium (GWP) expanded 31% YoY to INR28.4 billion during the same period.
Looking ahead, Motilal Oswal’s research report anticipates a consolidated PAT compound annual growth rate (CAGR) of around 25% from FY25 to FY28. This optimism is rooted in the company’s strategic focus on cross-selling, investments in digital technologies, and the leveraging of its ‘One ABC’ platform. These initiatives are expected to drive healthy profitability, resulting in a return on equity (RoE) of approximately 16% by FY28. Based on these projections, the report reiterates a ‘BUY’ recommendation for Aditya Birla Capital, with a sum-of-the-parts (SoTP) based target price of INR380, as of September 2027 estimates.
Investors are advised to consult with certified experts before making any investment decisions, as the views expressed in the report are those of the investment experts and not of the website or its management. Overall, Aditya Birla Capital’s diversified financial services portfolio and strategic initiatives position it for sustained growth and improved profitability in the coming years.
Aditya Birla Capital’s Q2 profit rises 3% to Rs 855 crore
Aditya Birla Capital, the financial services arm of the Aditya Birla Group, has reported a 3% increase in consolidated net profit for the second quarter ended September 2025. The company’s net profit stood at Rs 855 crore, up from Rs 834 crore in the same quarter of the previous financial year. The total income of the company rose to Rs 10,609 crore during the quarter, compared to Rs 10,362 crore a year ago.
The interest income of the company increased to Rs 5,003 crore, up from Rs 4,141 crore in the same quarter of the previous year. However, the total expenses of the company also rose to Rs 9,475 crore, compared to Rs 9,034 crore a year ago. The company’s asset under management (AUM), which includes its asset management, life insurance, and health insurance businesses, grew 10% to Rs 5,50,240 crore as of September 30, 2025, compared to Rs 5,01,152 crore a year ago.
The growth in AUM is a positive indicator of the company’s ability to attract and manage assets on behalf of its clients. The increase in interest income is also a positive sign, as it suggests that the company is able to generate more revenue from its lending activities. However, the rise in expenses is a concern, as it could put pressure on the company’s profitability.
Overall, the results suggest that Aditya Birla Capital is performing reasonably well, with growth in its AUM and interest income. However, the company needs to keep a check on its expenses to ensure that its profitability is not affected. The company’s performance is likely to be watched closely by investors and analysts, as it is a major player in the financial services sector in India.
The Aditya Birla Group is one of India’s largest conglomerates, with interests in a wide range of industries, including financial services, telecommunications, and manufacturing. Aditya Birla Capital is the group’s financial services arm, and provides a range of financial services, including asset management, life insurance, and health insurance. The company’s performance is an important indicator of the group’s overall health and prospects.
HDFC Ergo and Tata AIG have joined other insurers in reducing distributor commissions.
The Indian government has introduced a significant change in the Goods and Services Tax (GST) on individual health and life insurance premiums, reducing it from 18% to 0% effective September 22, 2025. However, this change also means that insurance companies can no longer claim Input Tax Credit (ITC) on services such as brokerage and commission for individual health and life insurance. As a result, insurance companies are reducing commission payouts to distributors to absorb the loss of ITC benefit.
Several major insurance companies, including HDFC Ergo General Insurance, Tata AIG General Insurance, ICICI Lombard General Insurance, Aditya Birla Health Insurance, Niva Bupa Health, Star Health, and Care Health, have already cut commissions to distributors. The commission paid to distributors is now inclusive of 18% GST, effective October 1, 2025. This change is expected to impact the profitability and operating expenses of insurance companies.
The government’s intention behind this move is to make insurance policies more affordable for individuals. However, it has created pressure on insurance companies’ margins, as they have lost the benefit of ITC that they could earlier claim on their expenses. Insurance companies are now absorbing the ITC disallowance impact on non-commission costs to keep premiums affordable for customers.
The reduction in commission payouts to distributors may affect their earnings, but insurance companies are encouraging them to focus on selling more policies to increase their volumes and earnings. The new guidelines have created a challenging environment for insurance companies, and they are awaiting responses from relevant authorities to address their concerns. Meanwhile, insurance companies are revising their commission rates to align with the GST changes, and distributors can expect updated commission grids soon. Overall, the GST exemption on individual health and life insurance premiums has created a complex situation for insurance companies, distributors, and policyholders, with both positive and negative implications.
A look back at his journey through the lens of advertisements
Bollywood actor Vikrant Massey has announced his retirement from acting, surprising his fans and the entertainment industry. The actor, known for his roles in films and television shows, has also made a name for himself in the advertising world. With a relatable persona, Massey has become a popular choice for brands targeting younger, urban demographics. He has collaborated with numerous brands, including InDrive, mCaffeine, Aditya Birla Health Insurance, Man Matters, and Cornetto India, among others.
One of his recent collaborations was with InDrive, a ridesharing company, where he unveiled the brand’s new marketing campaign. He has also worked with mCaffeine, a caffeinated personal care brand, to help establish an “addiction” to the good effects of caffeine. In this campaign, he was joined by actors Radhika Apte and Shruti Hassan. Additionally, Massey has teamed up with Aditya Birla Health Insurance to showcase the features of its product, Activ One, a comprehensive health insurance plan.
Massey has also been part of campaigns that aim to break stigma and address important issues. For example, he featured in a Man Matters advertisement to address hair loss and the struggles faced by men. He was joined by media personality Raghu Ram in this campaign. The actor has also been featured in a Cornetto ice cream advertisement with actress Alia Bhatt, which focused on lovebirds and was launched before Valentine’s Day.
As the brand ambassador for Fibe (formerly EarlySalary), a fintech platform, Massey highlighted easy credit solutions and financial empowerment. He has also collaborated with other brands, including Nivea Men, Cadbury’s, and Google Pixel. Throughout his career, Massey has carved a niche for himself as a trusted face in the advertising world, and his retirement from acting has come as a surprise to his fans and the industry. His legacy in the advertising world will likely continue to be felt, given his extensive work with various brands.
HDFC ERGO has partnered with Consumr.ai to enhance its customer intelligence capabilities.
Consumr.ai, a leading customer intelligence platform in India, has been selected by HDFC ERGO to pilot a proof-of-concept (POC) aimed at transforming the insurance customer journey. The POC will utilize Consumr.ai’s proprietary AI Twins technology, which creates virtual representations of consumer cohorts based on real behavioral data. This technology enables always-on, consumer-informed decision-making, allowing HDFC ERGO to place customers at the center of every marketing, creative, and product choice.
The POC will leverage deterministic behavioral data from hundreds of millions of global users through integrations with platforms such as Meta, Google, and LinkedIn. HDFC ERGO’s own first-party customer data can also be securely onboarded, segmented, and modeled into AI Twins without ingesting personally identifiable information (PII). All insights are anonymized at a cohort level, ensuring full GDPR and CCPA compliance.
Consumr.ai was chosen after emerging as one of four winners of TechPreneur Season 2, an innovation program that drew over 140 AI and technology companies worldwide. The winners were selected following a rigorous multi-stage evaluation process involving senior leaders from BCG, Google, HDFC ERGO, and ERGO International.
The partnership between Consumr.ai and HDFC ERGO has the potential to transform the insurance customer journey by addressing key business challenges across media efficiency, creative intelligence, audience discovery, segmentation, positioning, and product innovation. On successful completion of the POC, the solution could be scaled across HDFC ERGO’s business lines, integrated into distribution channels, and extended to new use cases such as influencer marketing and voice-of-customer programs.
Consumr.ai has delivered successful AI Twins implementations for several clients, including Rustomjee, Aditya Birla Insurance, and a Fortune 100 US insurance leader. The HDFC ERGO engagement strengthens its commitment to the BFSI sector and positions the platform as a catalyst for innovation in global insurance ecosystems. Vivek Bhargava, Co-Founder of Consumr.ai, expressed his delight at being selected by HDFC ERGO and highlighted the potential of AI Twins technology to enable real-time personalization at scale.
Aditya Birla Sun Life Insurance has launched the Super Term Plan.
Aditya Birla Sun Life Insurance Company Limited (ABSLI) has launched the ABSLI Super Term Plan, a comprehensive pure protection term insurance policy designed to provide goal-linked financial protection and built-in health management services. The policy reflects the company’s customer-first approach and commitment to supporting policyholders’ overall well-being.
The ABSLI Super Term Plan offers three tailored coverage options: Level Cover, Increasing Cover, and Level Cover with Return of Premium. Level Cover provides a fixed sum assured throughout the policy term, while Increasing Cover enhances the sum assured by 5% per annum. Level Cover with Return of Premium ensures a fixed death benefit and returns 100% of total premiums paid if the policyholder survives till maturity.
In addition to life protection, the plan offers built-in health management services, allowing policyholders to monitor and maintain their health while securing their family’s financial future. The policy also includes an Enhanced Life Stage Protection option, which allows for an increase in sum assured upon specific life events such as marriage, childbirth, or home loan.
The ABSLI Super Term Plan provides various benefits, including an Instant Payment on Claim Intimation facility, which pays a specified amount within one working day of claim registration. The policy also offers flexibility in disbursement of death benefits, with options for lump sum, equal monthly income, or a combination of both. Furthermore, the Staggered Death Benefit option allows the nominee to receive the benefit in monthly instalments over a five-year period.
According to Mr. Kamlesh Rao, MD & CEO of Aditya Birla Sun Life Insurance, the ABSLI Super Term Plan is designed to provide comprehensive financial security and peace of mind to individuals and families. The policy includes Commutation of Income Benefit, allowing the nominee to convert monthly income pay-outs into a lump sum amount at any time during the income benefit period.
Overall, the ABSLI Super Term Plan is a holistic insurance solution that provides robust life protection, health management services, and flexibility in claim settlement options. With its customer-centric approach, the policy aims to empower individuals and families to secure their financial future and well-being.
- LIC (Life Insurance Corporation of India): With a claim settlement ratio of 98.62%, LIC is one of the most trusted life insurance companies in India.
- HDFC Life Insurance: Offering a claim settlement ratio of 99.07%, HDFC Life Insurance is known for its efficient claim processing.
- ICICI Prudential Life Insurance: With a claim settlement ratio of 98.58%, ICICI Prudential is a popular choice among policyholders.
- SBI Life Insurance: SBI Life Insurance has a claim settlement ratio of 94.99%, making it a reliable option for life insurance.
- Max Life Insurance: Max Life Insurance boasts a claim settlement ratio of 99.22%, ensuring that policyholders receive their claims in a timely manner.
- Tata AIA Life Insurance: With a claim settlement ratio of 99.07%, Tata AIA Life Insurance is a trusted name in the Indian life insurance market.
- Bajaj Allianz Life Insurance: Bajaj Allianz Life Insurance has a claim settlement ratio of 98.48%, providing policyholders with peace of mind.
- Kotak Mahindra Life Insurance: Kotak Mahindra Life Insurance offers a claim settlement ratio of 98.15%, making it a popular choice among policyholders.
- PNB MetLife India Insurance: With a claim settlement ratio of 97.18%, PNB MetLife India Insurance is a reliable option for life insurance.
- Aegon Life Insurance: Aegon Life Insurance has a claim settlement ratio of 98.01%, ensuring that policyholders receive their claims efficiently.
- Exide Life Insurance: Exide Life Insurance boasts a claim settlement ratio of 98.47%, providing policyholders with a smooth claim experience.
- Reliance Nippon Life Insurance: With a claim settlement ratio of 97.71%, Reliance Nippon Life Insurance is a trusted name in the Indian life insurance market.
- Birla Sun Life Insurance: Birla Sun Life Insurance has a claim settlement ratio of 96.35%, making it a reliable option for policyholders.
- Aviva Life Insurance: Aviva Life Insurance offers a claim settlement ratio of 97.41%, ensuring that policyholders receive their claims in a timely manner.
- Future Generali India Life Insurance: With a claim settlement ratio of 95.71%, Future Generali India Life Insurance is a popular choice among policyholders.
- Canara HSBC OBC Life Insurance: Canara HSBC OBC Life Insurance has a claim settlement ratio of 95.39%, providing policyholders with a smooth claim experience.
- Pramerica Life Insurance: Pramerica Life Insurance boasts a claim settlement ratio of 95.55%, ensuring that policyholders receive their claims efficiently.
- Aditya Birla Sun Life Insurance: Aditya Birla Sun Life Insurance has a claim settlement ratio of 96.67%, making it a trusted name in the Indian life insurance market.
- Star Union Dai-ichi Life Insurance: With a claim settlement ratio of 95.13%, Star Union Dai-ichi Life Insurance is a reliable option for policyholders.
- Shriram Life Insurance: Shriram Life Insurance offers a claim settlement ratio of 94.99%, providing policyholders with peace of mind.
The life insurance industry in India has evolved from being a tax-saving instrument to a vital component of financial security. The Insurance Regulatory and Development Authority of India (IRDAI) plays a crucial role in regulating life insurance companies, setting standards such as Claim Settlement Ratio (CSR) and solvency ratio. As of FY 2024-25, private insurers in India have shown remarkable efficiency in settling death claims, with an average CSR of almost 99% within 30 days.
The top life insurance companies in India, ranked based on CSR, financial strength, and customer service quality, are:
1. Life Insurance Corporation of India (LIC) – With a CSR of 99.48% and a solvency ratio of 2.11, LIC continues to be the nation’s largest and most trusted life insurer.
2. HDFC Life Insurance – Achieving a CSR of 99.96% and a solvency ratio of 2.03, HDFC Life is a leader in digital services and has a broad product portfolio.
3. ICICI Prudential Life Insurance – With a CSR of 99.3% and a solvency ratio of 212.2%, ICICI Prudential has consistently demonstrated operational excellence.
4. SBI Life Insurance – Backed by the State Bank of India, SBI Life reported a CSR of 99.4% and a solvency ratio of 1.96, showcasing strong financial soundness.
5. Axis Max Life Insurance – Sustaining one of the industry’s highest CSR at 99.65%, Axis Max Life has a customer-centric approach and strong capital adequacy.
6. Bajaj Allianz Life Insurance – Achieving a CSR of 99.23% and a solvency ratio of 325%, Bajaj Allianz has reinforced its reputation for financial stability and innovation.
7. Kotak Mahindra Life Insurance – Reporting a CSR of 98.7% and a solvency ratio of 2.27, Kotak Life has steadily gained ground in India’s life insurance industry.
8. Aditya Birla Sun Life Insurance – With a CSR of 98.12% and a solvency ratio of 1.94, Aditya Birla Sun Life balances Indian legacy with global expertise.
9. Tata AIA Life Insurance – Achieving a CSR of 99.41% and a solvency ratio of 180%, Tata AIA has established itself as one of the most reliable private insurers.
10. PNB MetLife India Insurance – With a retail CSR of 99.57% and a group CSR of 99.72%, PNB MetLife has further strengthened its position through strong financial and operational performance.
When selecting a life insurance company, policyholders should consider the CSR, solvency ratio, and service quality. The life insurance industry in India is booming, driven by increasing financial literacy, digital penetration, and awareness about protection and retirement planning. The key takeaway for policyholders is that numbers matter, and they should always check a life insurer’s CSR, solvency ratio, and service quality before making a purchase. Ultimately, life insurance is not just about tax benefits, but about securing futures and providing peace of mind.
ICICI Prudential Mutual Fund has launched a new fund offer (NFO) for its Conglomerate Fund, which will focus on investing in India’s largest and most diversified business conglomerates.
ICICI Prudential Mutual Fund has introduced the ICICI Prudential Conglomerate Fund, an open-ended equity scheme that aims to capitalize on opportunities within India’s largest promoter-led business groups. The New Fund Offer (NFO) began on October 3, 2025, and will close on October 17, 2025. This fund focuses on Indian conglomerates, which are business groups with at least two listed companies across various sectors. These conglomerates are seen as resilient structures capable of navigating global volatility and capturing long-term growth opportunities.
According to Sankaran Naren, Executive Director and CIO of ICICI Prudential AMC, India’s leading business groups have demonstrated a remarkable ability to reinvent themselves across decades, making them an attractive investment opportunity. The fund’s investment strategy will involve investing in an investment universe of 71 conglomerate groups, comprising around 240 companies across sectors. The portfolio will combine structural growth stories with cyclical opportunities, providing investors with a chance to participate in India’s long-term corporate evolution.
The scheme will be managed by Lalit Kumar and benchmarked against the BSE Select Business Groups Index. The minimum application amount during the NFO period is Rs 1,000. ICICI Prudential’s new offering enters a growing thematic category, with at least one peer fund, Aditya Birla Sun Life Conglomerate Fund, already operational. The Aditya Birla Sun Life Conglomerate Fund has delivered 5.39% returns since its inception, modestly outperforming its benchmark BSE 500 TRI.
The ICICI Prudential Conglomerate Fund offers investors exposure to India’s largest business houses across sectors, combining stability with growth potential. However, industry experts caution that conglomerate-focused funds carry concentration risk, making them more suited for long-term, high-risk investors willing to ride out market cycles. Investors should evaluate their risk appetite and consider this as part of a diversified portfolio.
The success of this fund will depend on execution and the performance of India’s conglomerates in navigating both domestic opportunities and global headwinds. With the ICICI Prudential Conglomerate Fund, ICICI Prudential AMC is offering investors an opportunity to participate in India’s most powerful business groups, which continue to drive corporate India’s growth story. The fund aims to provide both stability and long-term wealth creation potential, making it an attractive option for investors looking to invest in India’s conglomerates.
Life insurance companies pay a 4% commission on Unit Linked Insurance Plans (ULIPs).
Recent data from the Insurance Regulatory and Development Authority of India (IRDAI) reveals that life insurance companies paid an average commission of 4.03% to distributors for Unit-Linked Insurance Plans (ULIPs) in 2024, up from 3.13% in 2023. The total commission paid for ULIPs in 2024 was Rs. 4,900 crore, while the total ULIP premiums collected were Rs. 1.21 lakh crore.
Tata AIA Life topped the list of insurers, paying 11.22% in commissions to distributors, followed by Aviva Life at 8.32%, and Shriram Life at 6.65%. Other insurers, such as Axis Max Life, HDFC Life, and PNB MetLife India, also paid significant commissions, ranging from 4.92% to 4.67%.
In absolute terms, SBI Life paid the highest commission on ULIPs, amounting to Rs. 1,371 crore in 2024, followed by Tata AIA Life at Rs. 818 crore, and HDFC Life at Rs. 701 crore. ICICI Prudential Life and Axis Max Life also paid substantial commissions, with Rs. 548 crore and Rs. 354 crore, respectively.
The data highlights the significant role that commissions play in the sale of ULIPs in India. ULIP commissions accounted for 9.5% of the total commission payout in FY 2024. The high commissions paid by some insurers suggest that they are relying heavily on distributors to sell their ULIP products.
The top 10 life insurers in terms of ULIP commission payouts were SBI Life, Tata AIA Life, HDFC Life, ICICI Prudential Life, Axis Max Life, Bajaj Allianz Life, LIC, Kotak Mahindra Life, Aditya Birla Sunlife, and PNB MetLife India. These insurers paid a total of Rs. 3,831 crore in ULIP commissions in 2024, accounting for approximately 78% of the total ULIP commission payout.
The data also shows that some insurers, such as Bandhan Life and Future Generali India Life, paid very low commissions, with 0.01% and 1%, respectively. This suggests that these insurers may be relying more on other distribution channels, such as online sales or direct marketing, to sell their ULIP products.
Overall, the data provides insights into the commission structures of life insurers in India and highlights the importance of distributors in the sale of ULIPs. It also suggests that some insurers are relying heavily on commissions to drive sales, which could have implications for policyholders and the overall insurance industry.
Kamlesh Rao, Aditya Birla Sun Life Insurance, ETBrandEquity
Kamlesh Rao, Managing Director and Chief Executive Officer of Aditya Birla Sun Life Insurance, emphasizes the importance of simplifying life insurance products to address common consumer misconceptions. The company has launched the Super Term Plan, which incorporates an integrated health management service and offers options for policyholders to receive all their premiums back or an early exit option. This aims to combat the fear of losing money if the policyholder lives.
Rao highlights that life insurance is one of the toughest products to sell, with high consideration required before purchase and low involvement in a customer’s day-to-day life. To address this, Aditya Birla Sun Life Insurance has implemented a digital-focused approach, reducing traditional application processes and providing a faster and more efficient customer experience.
The company has also developed a Pre-Approved Sum Assure model in collaboration with HDFC Bank, allowing customers to see tailored insurance product offers directly within their online banking. This has significantly increased sales conversions, with 40% of the business done with HDFC Bank coming from this model.
To enhance customer engagement and understanding of policy details, the company has introduced innovative features such as video confirmations for policy understanding and a chatbot named ZARA to improve premium collection and customer service. Rao emphasizes the importance of making the insurance buying process simpler and faster, with a focus on digitization and data analytics.
The company is also working on emerging distribution channels, including bundling life insurance products with other products/services and partnering with telecom customers or e-commerce marketplaces. However, Rao notes that the challenge is that no customer wants to buy insurance for a short-term basis, and the industry has not been able to do a great job with sachet-type products.
To drive retention and premium renewal, the company is focusing on making the customer journey frictionless, using data analytics to understand customer needs and preferences. The company has created a bot called ZARA to serve customers who prefer not to interact with human agents, and has also partnered with HDFC Bank to extend the free look period for one year.
Rao highlights the importance of data analytics in enabling the company to sell better via channel partners, including the use of Pre-Approved Sum Assure and AI-powered bots to train sales agents. The company is also working on developing alternate models to determine the best-suited insurance category for customers based on secondary parameters such as the car they own.
Overall, Aditya Birla Sun Life Insurance is focused on simplifying life insurance products, enhancing customer engagement and understanding, and leveraging data analytics and digital technologies to drive business growth and customer retention. With the launch of the Super Term Plan and other innovative initiatives, the company aims to address common consumer misconceptions and make life insurance more accessible and appealing to a wider range of customers.