Niva Bupa offers a range of health insurance plans catering to individuals, families, and senior citizens. Their plans often include features like cashless hospitalization at a wide network of hospitals (over 8,500), coverage for pre and post-hospitalization expenses, day-care procedures, and some plans even cover AYUSH treatments. Some policies offer benefits like a health check-up from day one, no capping on room rent, and a booster benefit that increases the sum insured for every claim-free year.
The company emphasizes a digital-first approach, offering a seamless experience for buying policies, tracking claims, and renewals through their app and website. They also claim a high claim settlement ratio, aiming for a smooth and quick process for policyholders.
Latest News on NivaBupa
GST exemption on retail insurance likely to boost demand, with HDFC Life and Niva Bupa among Motilal Oswal’s top picks.
The insurance industry is facing a short-term challenge in terms of cash flow due to the recent announcement of a change in GST rates. The change, which is set to take effect until September 22, is expected to impact the industry in several ways. Firstly, policyholders who have purchased insurance policies in the last month are entitled to a free look period, during which they can cancel their policies without penalty. This could lead to a significant number of cancellations, which would negatively impact the cash flow of insurance companies.
Additionally, the change in GST rates may also lead to a delay in fresh purchases of insurance policies until September 22. This means that insurance companies may experience a reduction in new business, which would further exacerbate the cash flow challenges. The combination of cancellations and delayed purchases could put a strain on the financial resources of insurance companies, at least in the near term.
On the positive side, general insurance players are expected to benefit from the cut in GST rates on automobiles. The reduced tax rate is likely to boost vehicle sales, which could lead to an increase in demand for motor insurance policies. This could be a significant opportunity for general insurance companies, as they could see an uptick in business from the increased sales of vehicles. The growth in vehicle sales could also lead to an increase in other types of insurance policies, such as comprehensive insurance, which could further benefit general insurance players.
Overall, while the change in GST rates poses some short-term challenges for the insurance industry, there are also potential benefits, particularly for general insurance players. The key will be for insurance companies to navigate the short-term challenges and position themselves to take advantage of the potential opportunities that arise from the change in GST rates. By doing so, they can minimize the impact of the challenges and maximize the benefits, ultimately emerging stronger and more resilient in the long term. The impact of the GST rate change will be closely watched by the industry, and insurance companies will need to be proactive in responding to the changes and capitalizing on the opportunities that arise.
Niva Bupa has suspended its cashless facility at Max Hospitals, leaving thousands of policyholders without access to cashless treatment.
Niva Bupa Health Insurance has suspended its cashless treatment facility at Max Hospitals across India, affecting thousands of patients. The decision was made after the company’s agreement with Max expired in May 2025, and talks over premium revisions failed to reach an agreement. As a result, policyholders will no longer be able to avail cashless hospitalization at Max hospitals and will have to pay their bills upfront before filing for reimbursement.
According to Dr. Bhabatosh Mishra, Director and COO of Niva Bupa Health Insurance, the company had exhausted all other options before taking this step, citing administrative and process-related challenges in its arrangement with Max Group of Hospitals. policyholders can still receive treatment at Max Hospitals, but only on a reimbursement basis. Niva Bupa has reminded customers that cashless services are still available at its 10,000-plus partner hospitals across the country.
This issue is not limited to Niva Bupa, as policyholders of other insurance companies, such as Bajaj Allianz General Insurance and Care Health Insurance, may also lose cashless access at several hospitals from September 1. The Association of Healthcare Providers (India) has raised concerns with online health insurers over the suspension of cashless services at several hospitals. The General Insurance Council has criticized the association’s move, calling it a sudden and unilateral action that creates confusion and risks undermining public trust in health insurance.
The disruptions in cashless services can hurt citizens directly by forcing them into heavy upfront payments and could even endanger lives in critical medical cases requiring immediate treatment. This development comes at a time when the insurance regulator IRDAI is pushing for 100% cashless treatment across India. However, hospitals are not regulated in the same way as insurers, limiting the regulator’s ability to intervene. With hospital treatment costs rising sharply in recent years, such disputes threaten to make quality healthcare even more difficult to access for ordinary citizens.
The dispute between insurance companies and hospitals highlights the need for greater regulation and oversight in the healthcare industry. The IRDAI’s push for 100% cashless treatment is a step in the right direction, but more needs to be done to ensure that patients have access to quality healthcare without being burdened by heavy upfront payments. The situation is being monitored closely, and it remains to be seen how the dispute will be resolved and what impact it will have on patients and the healthcare industry as a whole.
As health insurers and hospitals engage in disputes, policyholders seek protection.
The healthcare industry in India is experiencing a tumultuous period, with hospitals and insurers at odds over treatment tariffs and empanelment terms. Recently, the Association of Healthcare Providers of India (AHPI) advised its member hospitals to suspend cashless insurance services provided by Bajaj Allianz General Insurance, citing disagreements over hospital reimbursement rates. Although the issue has been temporarily resolved, similar disputes continue to arise, leaving policyholders caught in the middle.
Hospitals claim that insurers are pressuring them to reduce tariffs, which would compromise their ability to maintain quality and invest in technology. Insurers, on the other hand, argue that standardization of hospital tariffs is necessary to prevent overcharging and bring down medical inflation. They propose a common empanelment of healthcare providers, which would streamline hospital tariffs across insurance companies.
The General Insurance Council (GI Council) has criticized hospitals for attempting to derail the standardization process, while hospitals argue that insurers are trying to bully them into accepting unsustainable rates. Max Healthcare, one of the largest hospital chains in India, has temporarily suspended its cashless treatment facility with Niva Bupa Health Insurance due to ongoing tariff discussions.
Insurance industry representatives, such as Mayank Bathwal, CEO of Aditya Birla Health Insurance, argue that standardization would bring transparency and help reduce medical inflation, which is currently at 12-14%. They also point out that there is no apex body to regulate healthcare providers and raise complaints against hospitals.
However, hospital representatives counter that standardization oversimplifies healthcare delivery and could lead to a compromise in quality. They argue that a one-size-fits-all approach would discourage hospitals from innovating or investing in better patient care. Dr. Saroj Mandal, a cardiologist, suggests a graded approach, where hospitals with similar medical expertise, infrastructure, and technology could offer similar rates for treatments, ensuring transparency for patients.
The regulatory authority is being called upon to intervene and establish a framework for standardization and regulation of healthcare providers. The Indian Council of Medical Research (ICMR) has already established standard treatment protocols for various diseases, and insurers argue that a similar framework should be applied to hospital tariffs. The ongoing disputes between hospitals and insurers highlight the need for a regulator to ensure that policyholders receive cashless treatments without being caught in the crossfire of disagreements over tariffs and empanelment terms.
Insurers have eased health insurance regulations for individuals with diabetes, heart conditions, and other chronic illnesses.
The health insurance landscape is undergoing a significant transformation, making it more accessible to individuals with chronic and lifestyle-related diseases. According to a recent note from Policybazaar, insurers have relaxed their underwriting norms, allowing people with conditions such as diabetes, heart disease, and arthritis to obtain coverage more easily. This change is expected to benefit a large segment of the population, particularly those who were previously denied coverage due to borderline or slightly elevated health indicators.
One notable development is the acceptance of higher HbA1c levels for individuals with well-managed Type 2 diabetes. Several insurers, including Niva Bupa, Care Health, ABHI, and Star Health, now offer coverage to individuals with higher HbA1c levels, widening the scope for those who were previously excluded. Additionally, the Body Mass Index (BMI) cutoffs have been revised across many plans, enabling overweight and mildly obese individuals to apply for policies without facing automatic rejection or higher scrutiny.
Insurers have also expanded their acceptance of other chronic illnesses, such as Aplastic Anemia, Psoriatic Arthritis, Osteoarthritis, Hepatitis B, and Epilepsy. While these policies may come with extra premiums or permanent exclusions, they offer a glimmer of hope for individuals who were previously considered high-risk. Furthermore, individuals with a history of heart ailments are now seeing more options, with insurers such as ABHI and Star Health offering coverage to applicants with past heart issues, albeit with waiting periods or loading.
The Head of Health Insurance at Policybazaar, Siddharth Singhal, welcomed these changes, stating that health insurance has become more inclusive in recent months. The demand for these revised products is strong, with more customers with medical histories seeking financial protection. As the health insurance sector continues to evolve, it is likely that more individuals with chronic and lifestyle-related diseases will be able to access coverage, providing them with much-needed financial security and peace of mind.
Niva Bupa has suspended its cashless treatment facility in all Max Hospitals.
Niva Bupa Health Insurance has suspended its cashless treatment facility at all Max Hospitals across India, effective August 16, 2025. This move is expected to affect a significant number of insurance holders who rely on cashless treatment and other facilities at insurer-linked hospitals. The decision was made after the agreement between Niva Bupa and Max Hospitals expired in May 2025, and the two parties were unable to reach a mutual agreement on tariff revisions.
According to Dr. Bhabhtosh Mishra, Director & Chief Operating Officer at Niva Bupa Health Insurance, the company had been discussing tariff revisions with Max Hospitals, but they were unable to come to an agreement. As a result, cashless services at Max Hospitals have been temporarily suspended. Max Healthcare, on the other hand, has stated that they had continued to provide cashless services to Niva Bupa policyholders despite the contract expiration, but Niva Bupa’s request to further reduce tariffs was deemed unviable and could compromise patient safety and quality of care.
Niva Bupa has removed all Max Hospitals from their list of network hospitals on their website, effective September 1, 2025. However, policyholders can still avail of treatments at Max Hospitals, but only on a reimbursement basis. This means that they will have to pay the bills upfront and then file for reimbursement with Niva Bupa. The insurance provider has assured its customers that they are making alternative arrangements to ensure a smooth treatment process and has begun a priority reimbursement process for those currently undergoing or seeking treatment at Max Hospitals.
Niva Bupa policyholders have been advised to consider one of their 10,000+ partner hospitals, where the cashless facility remains fully available. The company has stated that they are committed to providing their customers with the best possible service and are working to resolve the issue with Max Hospitals. In the meantime, policyholders will have to navigate the reimbursement process, which may cause some inconvenience. The suspension of cashless treatment facilities at Max Hospitals is a significant development in the Indian health insurance market, and it remains to be seen how this will affect the relationship between Niva Bupa and Max Hospitals in the future.
Stock Market Updates for NivaBupa
Recent Updates
Max Hospitals across India have stopped providing cashless facilities to Niva Bupa customers.
Niva Bupa Health Insurance has suspended its cashless treatment facility at all Max Hospitals across India, effective August 16, 2025. This decision was made after the company’s agreement with Max expired in May 2025 and negotiations on tariff revision failed to reach a mutual agreement. As a result, policyholders will no longer be able to access cashless treatment at Max Hospitals, but can still receive treatment on a reimbursement basis. This means that policyholders will have to pay their medical bills upfront and then file for reimbursement with Niva Bupa.
Niva Bupa has stated that it has put in place alternative arrangements to ensure that customers’ treatment continues smoothly, and has enabled a priority reimbursement process for customers who are currently undergoing or seeking treatment at Max Hospitals. The company has also asked its partners to inform customers with chronic conditions about the priority-reimbursement process and guide them to alternative hospitals where cashless facilities are available.
This development may cause inconvenience to thousands of Niva Bupa policyholders who rely on Max Hospitals for their medical treatment. Niva Bupa has a claim settlement ratio of 92.02% for the year 2023-24, but its incurred claims ratio is alarmingly low at 59.92%, indicating that policyholders may not receive the full amount of their claims. The company also ranks amongst the top 5 health insurers with the maximum policyholder complaints regarding complete or partial repudiation or rejection of claims.
It’s worth noting that CARE Health Insurance had also suspended its cashless facility with Max Hospitals earlier this year, although this was restricted to Delhi-NCR. Niva Bupa policyholders can continue to access treatment at Max Hospitals, but will have to pay upfront and file for reimbursement. The company has stated that it will endeavour to process reimbursement claims quickly to minimize hassle for its customers. However, the details of the priority reimbursement process are not yet available, and policyholders may face uncertainty and inconvenience as a result of this change.
Niva Bupa has announced the elevation of Nimish Agrawal to the position of Director of the Digital Business Unit and Chief Marketing Officer (CMO).
Nimish Agrawal has been promoted to a dual role at Niva Bupa Health Insurance, serving as both the Director of the Digital Business Unit and the Chief Marketing Officer. This promotion comes after Agrawal has spent four years with the company. In his new and expanded role, he will be responsible for leading the digital business vertical, in addition to his ongoing responsibilities as CMO.
As the Director of the Digital Business Unit, Agrawal will oversee the profit and loss for this unit, encompassing direct sales, tele-sales, and digital platforms such as the company’s website and mobile app. His responsibilities will also include optimizing user experience, managing business analytics, implementing technology, and handling performance and brand marketing. Furthermore, he will be in charge of media planning and buying, public relations, and corporate communications.
Agrawal brings a wealth of experience to his new role, with over 17 years of experience in brand strategy, digital marketing, innovation, and category management. Before joining Niva Bupa, he worked with several notable brands, including Dulux, Britannia, Pril, and Naukri.com. His extensive background in marketing and digital business is expected to significantly contribute to the growth and success of Niva Bupa’s digital business unit.
The promotion of Agrawal to this dual role highlights Niva Bupa’s efforts to strengthen its digital presence and leverage the expertise of its senior executives to drive business growth. As the Director of the Digital Business Unit and CMO, Agrawal will play a crucial role in shaping the company’s digital strategy and marketing efforts, aiming to enhance user experience, increase sales, and expand the company’s online presence.
Agrawal’s appointment is seen as a strategic move by Niva Bupa to capitalize on the growing importance of digital channels in the health insurance sector. With his experience and expertise, he is well-positioned to lead the company’s digital transformation and drive business success in this rapidly evolving market. As Niva Bupa continues to navigate the complexities of the health insurance industry, Agrawal’s leadership in the digital business unit and marketing functions is expected to be a key factor in the company’s future growth and success.
Niva Bupa Health Insurance Launches #WorldsMostResponsibleDad Campaign to Celebrate Father’s Day
Niva Bupa Health Insurance Company Limited has launched a campaign called #World’sMostResponsibleDad to celebrate the commitment and responsibility of fathers to secure their family’s health and future. The campaign is rooted in the insight that new fathers often feel an overwhelming sense of responsibility and prioritize their loved ones’ needs over their own. However, according to a consumer immersion conducted by Niva Bupa, only about 20% of fathers currently hold a health insurance policy, which is a stark reminder that while fathers are doing everything for the wellbeing of their family, they are not taking charge of their own health.
The campaign acknowledges that fathers may make small everyday mistakes, but what truly matters is getting the big things right, like securing their own health with health insurance. This responsible step ensures peace of mind and financial security, safeguarding the entire family against unexpected health challenges. As part of the campaign, Niva Bupa has partnered with Blinkit to distribute specially designed greeting cards across Delhi, Gurgaon, and Mumbai to buyers of diapers, baby food, and other kids-related items on Father’s Day weekend.
Niva Bupa is also collaborating with renowned author and influencer Durjoy Dutta to amplify the message to new fathers and families on Instagram and other digital platforms. The campaign aims to nudge fathers to prioritize their own health for the sake of their family’s future. Health insurance is a fundamental step towards safeguarding the future and ensuring peace of mind for the entire family. By securing health insurance, fathers not only protect themselves and their loved ones but also provide a shield for their family’s future.
Niva Bupa Health Insurance Company Limited is a public-listed company with over 212 physical branches across India. The company’s purpose is to give every Indian the confidence to access the best healthcare. It has consistently maintained a 90%+ claim settlement ratio over the last four financial years and has covered 20 million+ lives. The company is a certified Great Place to Work five times in a row. The #World’sMostResponsibleDad campaign is Niva Bupa’s way of empowering families to face life’s uncertainties with confidence.
Nimish Agrawal, Director – Digital Business Unit & Chief Marketing Officer at Niva Bupa Health Insurance, said, “At Niva Bupa, we understand that a father’s true responsibility goes beyond the daily hustle—it’s about ensuring the long-term health and well-being of the family. This campaign is our way of nudging fathers to prioritize their own health for the sake of their family’s future.” The campaign underscores the importance of health insurance in a father’s toolkit of responsibility. By securing health insurance, fathers can ensure a secure future for their families.
Niva Bupa Health Insurance has partnered with Zepto for the ‘No Freedom Sale’ campaign on Independence Day.
Niva Bupa Health Insurance Company Limited has partnered with Zepto, a quick commerce platform, to launch a campaign emphasizing the importance of health insurance. The campaign, titled “No Freedom Sale,” coincides with India’s Independence Day and aims to remind people that hospital bills do not offer discounts. The collaboration involves outdoor advertising, branded delivery experiences, and digital integration to reach consumers in key metros.
The campaign begins with a witty out-of-home execution, where Zepto’s billboards advertise their 10-minute delivery promise, while adjacent Niva Bupa billboards respond with a reminder that hospital bills do not offer discounts. This juxtaposition serves as a call to safeguard against high medical costs. Additionally, Zepto orders in Delhi NCR, Mumbai, Bangalore, and Chennai will be delivered in co-branded bags carrying the message “Freedom sale everywhere except on Hospital Bills.”
The campaign also features a dedicated page on Zepto’s platform, showcasing real Niva Bupa customer testimonials and offering users the option to connect with an advisor for a personalized consultation. According to Nimish Agrawal, Director of Digital Business Unit and Chief Marketing Officer at Niva Bupa, the partnership with Zepto is a unique way to communicate a thought-provoking message with a light-hearted approach. The goal is to remind people that true financial freedom comes from being protected against unforeseen medical expenses.
Chandan Mendiratta, Chief Brand and Culture Officer at Zepto, added that the partnership is a perfect example of creative and impactful engagement with users. The campaign’s memorable touchpoints, including the OOH banter and branded bags, aim to encourage users to think about their health and financial security. By driving home a crucial financial message, both brands aim to create high recall through a campaign that is clever, relatable, and impactful. The partnership allows Niva Bupa to reach a wide, urban audience and emphasize that health insurance is a non-negotiable part of financial planning.
Why Claim Settlement Ratio Should Be Your First Check Before Buying InsuranceThe claim settlement ratio (CSR) is a crucial metric that indicates the percentage of claims settled by an insurance company out of the total claims received. It serves as a key indicator of an insurer’s reliability and commitment to paying out claims. Before purchasing an insurance policy, it is essential to check the claim settlement ratio of the insurance company.A high claim settlement ratio signifies that the insurance company has a history of settling a large percentage of claims, thereby providing assurance to policyholders that their claims will be settled in case of an unforeseen event. On the other hand, a low claim settlement ratio raises concerns about the insurer’s willingness or ability to pay out claims.Checking the claim settlement ratio before buying insurance helps you make an informed decision. It allows you to assess the insurance company’s track record and gauge the likelihood of your claim being settled. By opting for an insurer with a high claim settlement ratio, you can ensure that you receive the compensation you are entitled to when you need it the most.Therefore, the claim settlement ratio should be your first check before buying insurance, as it reflects the insurer’s credibility and commitment to its policyholders. It is a vital factor that can significantly impact your decision-making process when selecting an insurance provider.
Navigating the world of insurance can be overwhelming, with numerous insurers in the market. One crucial metric to consider when choosing an insurer is the claim settlement ratio (CSR). The CSR is the percentage of claims an insurer settles in a given year compared to the total number of claims it receives. It serves as a key indicator of an insurer’s reliability and efficiency in honoring claims. The Insurance Regulatory and Development Authority of India (IRDAI) publishes the CSR annually, providing policy buyers with a transparent and data-backed way to assess the credibility of insurers.
A high CSR indicates that the insurer is dependable and prompt in claim settlements, minimizing the chances of distressing delays or rejections. A CSR of 95% or above is typically considered a sign of trustworthiness. The CSR is calculated using a formula that takes into account the number of claims settled and the total number of claims received. According to IRDAI’s latest data for 2023-24, Acko General Insurance and Navi General Insurance Ltd had the highest CSR among private general insurers, with 99.91% and 99.97% of claims settled within 3 months, respectively.
Among public sector insurers, The Oriental Insurance Co. Ltd had the lowest CSR at 65.08%. Overall, general insurers in India paid out 81.13% of total claims within 3 months of claim intimation. Stand-alone health insurers also had notable CSR performances, with Aditya Birla Health Insurance topping the list at 92.97%, followed by Care Health Insurance at 92.77% and Niva Bupa Health Insurance at 92.02%. The claim settlement ratio is a critical metric that can help policy buyers make informed decisions when choosing an insurer. It is essential to check the CSR before signing on the dotted line, as it is a direct measure of how likely an insurer is to stand by policyholders in their time of need.
The data shows that some insurers are more reliable than others in settling claims. For instance, Star Health and Allied Insurance Co. Ltd had the lowest CSR among stand-alone health insurers but settled the highest number of claims at 16,80,171. This highlights the importance of considering multiple factors when choosing an insurer. The CSR is not just a number; it is a reflection of an insurer’s commitment to honoring claims and providing timely financial support during emergencies. By considering the CSR, policy buyers can make more informed decisions and choose an insurer that is likely to meet their needs.
ICICI Securities TradingView News
ICICI Securities has released a research report on Niva Bupa Health Insurance Company, highlighting the company’s impressive growth in health insurance premiums. Between FY20 and FY25, Niva Bupa’s premiums have grown at a compound annual growth rate (CAGR) of approximately 40%. This growth trend has continued into Q1FY26, with the company reporting a 28% increase in premiums on a comparable basis.
The report attributes this growth to Niva Bupa’s improved scale and assets under management (AUM), which are expected to drive margin expansion and earnings growth. ICICI Securities forecasts an IFRS profit after tax (PAT) CAGR of 55% for Niva Bupa between FY25 and FY27.
The company’s ability to implement price hikes and manage loss ratios is also expected to support its growth. Additionally, Niva Bupa’s expense ratio has already improved in Q1FY26, aligning with the Expense Outgo Management (EOM) guidelines.
Despite the positive outlook, the report highlights potential risks, including increased competitive intensity and claim costs that could impact profitability. However, based on its analysis, ICICI Securities has maintained a “BUY” rating for Niva Bupa, with a revised target price of INR 92 (up from INR 90).
Overall, the report suggests that Niva Bupa is well-positioned for continued growth and margin expansion, driven by its increasing scale, improved AUM, and ability to manage loss ratios. Investors are advised to consult with certified experts before making any investment decisions based on this report. With its strong growth trajectory and improving financials, Niva Bupa appears to be an attractive investment opportunity in the health insurance sector.
Claims are now allowed for hospital stays of 2 hours or more.
Over the past decade, medical advancements have revolutionized the way treatments and surgeries are performed, significantly reducing the time required for procedures. According to Siddharth Singhal, head of health insurance at Policybazaar, conditions that previously required overnight monitoring or post-operative care can now be safely managed with just a few hours of hospital stay. This is thanks to minimally invasive procedures like laparoscopy, laser surgery, and advanced imaging that enable quicker diagnostics and faster recovery.
As a result, many common procedures such as cataract surgeries, chemotherapy sessions, angiographies, and emergency observations can be completed within a few hours, eliminating the need for prolonged hospital admission. The insurance industry is adapting to these new medical realities by introducing flexible provisions in health plans that cover short hospital stays. This is a significant development, as traditional coverage often fell short in covering such brief admissions.
Several leading insurers have already rolled out enhanced health plans that reflect this shift. For example, a 30-year-old male non-smoker living in a metro city can opt for ICICI Lombard’s “Elevate” plan with a ₹10 lakh sum insured for an annual premium of ₹9,195. Similarly, CARE Health Insurance’s “Care Supreme” plan is available for ₹12,790 per year, while Niva Bupa’s “Health ReAssure” plan costs ₹14,199 annually. These prices take into account not only risk assessments but also the range of benefits, hospital networks, and additional features offered by each plan.
The insurance sector is evolving to keep pace with the rapid advancements in medical care. With treatments becoming faster and more precise, insurers are responding by offering more flexible and comprehensive coverage options. This development is expected to benefit policyholders, who can now claim insurance even for short hospital stays that were previously not covered. As medical technology continues to advance, the insurance industry is likely to continue adapting, offering more innovative and responsive health plans to meet the changing needs of patients.
Niva Bupa has introduced ‘Rise’, a health insurance product targeting India’s missing middle, a demographic that lacks adequate health coverage.
Niva Bupa Health Insurance Company Limited, a leading standalone health insurer in India, has launched a new health insurance plan called “Rise” designed specifically for the “Missing Middle” population. The Missing Middle refers to approximately 40 crore Indians who earn too much to qualify for government-sponsored health schemes but too little to afford premium private health insurance.
Rise aims to bridge the gap of inadequate coverage for this segment by offering unique, customized benefits that cater to their needs. The plan is based on comprehensive consumer research, which revealed that people in this cohort have seasonal income and are looking for tangible benefits to manage their health due to the lack of good primary private healthcare.
Key features of Rise include:
- Flexi-Pay Benefit: Allows customers to pay a token amount of 20% of the total premium and pay the rest anytime during the policy tenure.
- Smart Cash Benefit: Offers a guaranteed cash payout of INR 5,000 if the customer decides not to visit a private hospital and opts for treatment in a government hospital.
- Return Benefit: Returns 50% of the total premium paid by the customer as an additional sum insured, which accumulates over a lifetime with a 10% bonus added each year.
Additionally, Rise offers unlimited digital consultations in 16 vernacular languages, allowing customers to consult with general practitioners anytime, anywhere. The plan also comes with optional benefits that enable customers to modify their room type category, remove capping on modern treatments, and increase the limit up to the base sum insured.
Rise is available in Individual, Multi-member, and Family floater variants, with zone-wise pricing starting from as low as INR 6,416 to INR 8,669 for a 35-year-old individual for a 10 lakh sum insured. The plan covers a comprehensive range of healthcare expenses, including hospitalization, domiciliary, and home care treatment, as well as pre and post-hospitalization expenses.
According to Dr. Bhabatosh Mishra, Director – Underwriting, Products & Claims, Niva Bupa Health Insurance, “Rise is not only a step forward in bridging the insurance gap for India’s Missing Middle but also aligns with IRDAI’s vision of Insurance for All by 2047.” The plan aims to make health insurance more flexible, rewarding, and accessible, ensuring that every Indian has the confidence to seek the best healthcare without financial strain.
Niva Bupa Launches New Campaign ‘Ab India Karega Rise’
Niva Bupa, a health insurance company, has launched a digital campaign called “Ab India Karega Rise” to promote its new health insurance product, “Rise”. The product aims to provide an affordable, comprehensive, and tailored solution for the middle-class segment. The company’s goal is to bridge the insurance gap for India’s “missing middle” and align with the government’s mission of “Insurance for All by 2047”.
According to Nimish Agrawal, Executive Vice-President and CMO of Niva Bupa Health Insurance, the “Ab India Karega Rise” campaign is a movement that emphasizes the importance of health insurance as a crucial step towards progress. The campaign’s message is that health should never be a barrier to success, and with “Rise”, people can secure their future and live with peace of mind.
The campaign has been conceptualized by Glue Creatives and is available in multiple languages, including Tamil, Telugu, and Malayalam. The film aims to empower people to take control of their health and well-being by opting for the “Rise” health insurance product. By doing so, Niva Bupa hopes to make a positive impact on the lives of millions of Indians who lack adequate health insurance coverage.
The “Rise” product is designed to be affordable and comprehensive, making it an attractive option for the middle-class segment. With this campaign, Niva Bupa aims to increase awareness about the importance of health insurance and encourage people to invest in their health and well-being. By providing a tailored solution, the company hopes to make health insurance more accessible and affordable for the masses.
Overall, the “Ab India Karega Rise” campaign is a significant initiative by Niva Bupa to promote health insurance and empower people to take control of their health. By launching this campaign, the company is taking a step towards achieving the government’s mission of “Insurance for All by 2047” and making a positive impact on the lives of millions of Indians.
Niva Bupa has introduced its new campaign, ‘Ab India Karega Rise’, as part of its marketing efforts.
Niva Bupa has launched a digital campaign, “Ab India Karega Rise”, to promote its new health insurance product, “Rise”. The product is designed for India’s middle class, who are ambitious but budget-conscious, and addresses the issue of rising healthcare costs. “Rise” offers an affordable and comprehensive solution that provides progress, security, and confidence for millions of Indians.
The campaign aims to inspire Indians to take charge of their health and highlights how “Rise” makes health insurance easily accessible and affordable for the “Missing Middle” population, who are ineligible for government health schemes but struggle to afford private health insurance. The campaign aligns with Niva Bupa’s commitment to fostering a healthier and more financially secure India by offering innovative health insurance products.
According to Nimish Agrawal, Executive Vice President and Chief Marketing Officer at Niva Bupa, “Rise” is a step forward in bridging the insurance gap for India’s Missing Middle and aligns with the government’s mission of Insurance for All by 2047. The campaign is a movement that emphasizes the importance of health insurance as an essential step towards progress, and empowers people to secure their future and live with peace of mind.
The campaign film has been conceptualized by Glue Creatives and is available in multiple languages, including Tamil, Telugu, and Malayalam. Niva Bupa believes that access to quality healthcare should not be a privilege but a fundamental right, and is committed to delivering innovative solutions that cater to the evolving needs of its customers.
The launch of “Rise” and the “Ab India Karega Rise” campaign is a significant step towards making health insurance more accessible and affordable for Indians. With “Rise”, Niva Bupa is providing a comprehensive and tailor-made solution that addresses the health insurance needs of the middle class, and is empowering them to take charge of their health and secure their future. The campaign is a testament to Niva Bupa’s commitment to affordable and accessible health insurance, and its goal of fostering a healthier and more financially secure India.
Niva Bupa launches ‘Ab India Karega Rise’ to enhance health insurance accessibility for the middle class.
Niva Bupa, a health insurance brand, has launched a new digital campaign called “Ab India Karega Rise” to introduce its latest health insurance product, “Rise”. The “Rise” plan is designed to bridge the gap between government health schemes and expensive private insurance plans, making quality healthcare more accessible and affordable for India’s aspiring yet budget-conscious middle class. This demographic has long been ambitious and forward-looking, but rising healthcare costs have remained a significant financial burden.
The “Ab India Karega Rise” campaign aims to reflect the spirit of ambition and progress that defines modern India. It highlights how the “Rise” plan provides security and confidence to individuals and families navigating inconsistent incomes, ensuring that healthcare is no longer a privilege but a fundamental right. The campaign emphasizes that health insurance is a key step towards financial and personal progress, and that with “Rise”, Niva Bupa is ensuring that health never becomes a barrier to success.
Nimish Agrawal, Executive Vice President and Chief Marketing Officer at Niva Bupa, stated that the brand is committed to delivering innovative solutions that cater to the evolving needs of its customers. The “Rise” plan aligns with the government’s mission of “Insurance for All by 2047”, which aims to provide health insurance to all citizens by 2047. The campaign film, conceptualized by Glue Creatives, is available in multiple languages, including Tamil, Telugu, and Malayalam, allowing Niva Bupa to reach diverse audiences across India.
The “Ab India Karega Rise” campaign is more than just a marketing effort – it is a movement advocating for health insurance as a fundamental right. By providing affordable and accessible health insurance, Niva Bupa is empowering Indians to secure their future with peace of mind. The “Rise” plan is a comprehensive and affordable solution that empowers individuals and families to prioritize their health without compromising their financial stability. Overall, the campaign is a testament to Niva Bupa’s commitment to making quality healthcare accessible to all, and to supporting the government’s mission of ensuring that all citizens have access to health insurance by 2047.
Niva Bupa Health Insurance Launches #WorldsMostResponsibleDad Campaign to Honour Fathers on Father’s Day
Niva Bupa Health Insurance Company Limited has launched a campaign called “#World’sMostResponsibleDad” to celebrate Father’s Day and emphasize the importance of fathers securing their family’s health and future. The campaign highlights that while fathers often prioritize their family’s needs over their own, they tend to neglect their own health, with only 20% of fathers currently holding a health insurance policy. This data is a concern, as fathers’ health is crucial in ensuring their family’s future is secure.
The campaign is rooted in the insight that new fathers often feel an overwhelming sense of responsibility and tend to prioritize their loved ones’ needs over their own. However, this can lead to stress that can impact their health, which in turn can affect their family. The campaign encourages fathers to take a responsible step by securing their own health with health insurance, ensuring peace of mind and financial security for their family.
As part of the campaign, Niva Bupa has partnered with Blinkit to distribute specially designed greeting cards to buyers of kids-related items on Father’s Day weekend. The greeting card includes a heartwarming message and a playful checklist to help dads reflect on their responsibility. The company is also collaborating with author and influencer Durjoy Dutta to amplify the message on Instagram and other digital platforms.
Nimish Agrawal, Director – Digital Business Unit & Chief Marketing Officer at Niva Bupa Health Insurance, stated that the campaign aims to nudge fathers to prioritize their own health for the sake of their family’s future. He emphasized that health insurance is a fundamental step towards safeguarding the future and ensuring peace of mind for the entire family.
The campaign underscores the importance of health insurance in a father’s toolkit of responsibility. By securing health insurance, fathers can protect themselves and their loved ones, providing a shield for their family’s future. Niva Bupa Health Insurance empowers families to face life’s uncertainties with confidence. The campaign encourages fathers to take a proactive step towards securing their family’s health and future, making them the “#World’sMostResponsibleDad”.
CEO Siddhartha Mohanty of LIC says stake acquisition in health insurance company to be decided by March 31.
The Life Insurance Corporation of India (LIC), the country’s largest insurer, is planning to expand its presence in the insurance market by acquiring a stake in a health insurance company. According to CEO Siddhartha Mohanty, a decision on the potential acquisition is expected to be made by the end of March, before the close of the current financial year. However, Mohanty clarified that LIC is not looking to acquire a majority stake, with a holding of 51% or more.
The move into health insurance would mark a significant expansion for LIC, which currently sells life insurance policies, pension plans, and investment-linked insurance products, but not health insurance. By entering the health insurance market, LIC would be competing with established players such as Star Health Insurance, Aditya Birla Health Insurance, Niva Bupa Health Insurance, and Care Health Insurance.
The insurance market in India has become increasingly competitive in recent years, with private insurers ramping up their presence in the health insurance segment to tap into growing consumer demand. LIC’s potential acquisition of a stake in a health insurance company would be a strategic move to diversify its product offerings and tap into the growing demand for health insurance products.
Separately, LIC is also in discussions with the Reserve Bank of India (RBI) on the issuance of longer-term bonds, with maturities of 50 years or 100 years. Currently, India issues bonds with maturities of up to 40 years, but LIC is seeking longer-term instruments to manage its investment portfolio. According to Mohanty, discussions with the RBI are ongoing, and the central bank is considering the proposal. If successful, the issuance of longer-term bonds would provide LIC with more flexibility in managing its investment portfolio and matching its long-term liabilities.
Niva Bupa Health Insurance marks Father’s Day with the #WorldsMostResponsibleDad campaign
Niva Bupa Health Insurance Company Limited has launched a campaign called #World’sMostResponsibleDad to celebrate Father’s Day and emphasize the importance of health insurance for fathers. The campaign highlights the sacrifices that fathers make for their families and encourages them to prioritize their own health and well-being. According to a consumer survey conducted by Niva Bupa, only 20% of fathers currently hold a health insurance policy, despite being the primary providers and protectors of their families.
The campaign is rooted in the insight that new fathers often feel an overwhelming sense of responsibility and tend to prioritize their family’s needs over their own. However, this can lead to stress and neglect of their own health, which can have a ripple effect on the entire family. The campaign encourages fathers to take charge of their own health by securing health insurance, which can provide peace of mind and financial security for their loved ones.
As part of the campaign, Niva Bupa has partnered with Blinkit to distribute specially designed greeting cards to buyers of baby-related products in Delhi, Gurgaon, and Mumbai. The cards feature a heartwarming message and a playful checklist to help dads reflect on their level of responsibility. The company is also collaborating with author and influencer Durjoy Dutta to amplify the message on social media platforms.
Nimish Agrawal, Director of Digital Business Unit and Chief Marketing Officer at Niva Bupa, stated that the campaign aims to nudge fathers to prioritize their own health and well-being for the sake of their family’s future. He emphasized that health insurance is a fundamental step towards safeguarding the future and ensuring peace of mind for the entire family.
The #World’sMostResponsibleDad campaign underscores the importance of health insurance in a father’s toolkit of responsibility. By securing health insurance, fathers can protect themselves and their loved ones, and provide a shield for their family’s future. The campaign encourages fathers to take a responsible step towards ensuring their family’s health and well-being, and to prioritize their own health and well-being in the process.
Life Insurance Corporation (LIC) plans to acquire a stake in a health insurance firm by March 31, according to CEO Mohanty.
The Life Insurance Corporation of India (LIC) is planning to acquire a stake in a standalone health insurance company by the end of the current financial year, according to its Managing Director and CEO, Siddhartha Mohanty. The company is in the final stages of discussions, but the name of the potential investee has not been disclosed. Mohanty stated that entering the health insurance sector is a natural choice for LIC, given the growing demand for health insurance products in India.
LIC is currently considering investing in one of the seven standalone health insurance companies in India, including Star Health & Allied Insurance, Niva Bupa Health Insurance, and Care Health Insurance, among others. However, Mohanty clarified that LIC will not be acquiring a majority stake in the company, suggesting that the investment will be a minority stake.
The move is part of LIC’s strategy to expand its presence in the health insurance sector, which is expected to grow significantly in the coming years. The company had earlier indicated its interest in the health insurance business and had stated its intention to invest in a standalone health insurance firm in the first quarter of the current financial year.
In addition to its plans to invest in a health insurance company, LIC is also seeking to issue additional long-term bonds. The company has requested the Reserve Bank of India (RBI) to issue 50-year and 100-year bonds, which would provide LIC with longer-term investment options to manage its asset-liability mismatch. The RBI has already introduced 50-year bonds to meet the growing demand from insurance and pension funds, and LIC is hopeful that a decision on the longer-term bonds will be made soon.
Overall, LIC’s plans to invest in a health insurance company and issue longer-term bonds reflect the company’s efforts to expand its presence in the insurance sector and manage its investments more effectively. With the health insurance sector expected to grow significantly in the coming years, LIC’s move is seen as a strategic one, and the company is hopeful of completing the investment by the end of the current financial year.
Niva Bupa introduces ‘Rise’ to cater to India’s Missing Middle demographic.
Niva Bupa Health Insurance Company Limited has launched a new health insurance plan called “Rise” to provide affordable and accessible healthcare to India’s “Missing Middle” population. This segment, comprising around 40 crore Indians, earns too much to qualify for government-sponsored health schemes but too little to afford premium private health insurance. The plan is designed to bridge the gap of inadequate coverage for this segment, which is vulnerable to financial burdens during medical emergencies.
The “Rise” plan offers several industry-first features, including a flexi-payment option that allows customers to pay their premium in installments, with a token amount of just 20% of the total premium. Additionally, the plan provides a smart cash benefit of Rs 5,000 if the customer chooses to avail treatment at a government hospital instead of a private hospital.
Other key features of the plan include a return benefit of 50% of the total premium paid, which is added to the base sum insured, and unlimited digital consultations in 16 vernacular languages. The plan also offers optional benefits, such as the ability to modify room type categories and remove capping on modern treatments.
The plan is available in individual, multi-member, and family floater variants, with zone-wise pricing starting from Rs 6,416 for a 35-year-old individual with a sum insured of Rs 10 lakh. Niva Bupa aims to make health insurance more flexible, rewarding, and accessible with the “Rise” plan, ensuring that every Indian has the confidence to seek the best healthcare without financial strain.
According to Dr. Bhabatosh Mishra, Director – Underwriting, Products & Claims at Niva Bupa, “Rise is not only a step forward in bridging the insurance gap for India’s Missing Middle but also aligns with IRDAI’s vision of Insurance for All by 2047.” The plan is designed to empower individuals and families with access to healthcare and financial security.
Niva Bupa has a strong presence in India, with over 212 branches across 22 states and 4 union territories, and a network of 10,299 hospitals. The company has an annual average claim settlement ratio of over 90% and covers 19.8 million lives. With the launch of “Rise,” Niva Bupa aims to further expand its reach and provide affordable health insurance to a larger segment of the population.
LIC CEO Mohanty stated that the firm will finalize acquiring a significant stake in a health insurance company by March 31.
The Life Insurance Corporation of India (LIC) is planning to reveal details of its latest acquisition by the end of the current fiscal year, according to MD and CEO Siddhartha Mohanty. The state-owned insurance company is in the final stages of acquiring a major stake in a standalone health insurance company, with the goal of finalizing the deal by March 31. While Mohanty did not disclose the name of the target company, he confirmed that the process is nearing completion and that the acquisition is a strategic move for LIC to enter the health insurance sector.
LIC is one of the largest insurance players in India, and its entry into the health insurance market is expected to have a significant impact. The company had announced its intention to enter the health insurance sector through a stake purchase in a standalone health insurer earlier in the fiscal year. There are currently seven standalone health insurance companies in India, including Star Health & Allied Insurance, Niva Bupa Health Insurance, and Care Health Insurance.
Mohanty clarified that LIC will not be acquiring a controlling stake in the firm, but rather a significant minority stake. The acquisition is subject to regulatory approvals, which are expected to be completed within the current fiscal year. The move is part of LIC’s strategy to expand its presence in the insurance market and diversify its product offerings.
In addition to its health insurance plans, LIC is also engaging in discussions with the Reserve Bank of India (RBI) regarding long-term bond issuances. The company has requested bonds with maturities of 50 and 100 years, which would align with its long-term investment strategy. The RBI has already introduced 50-year bonds to address the increasing demand from insurance and pension funds, and LIC is negotiating for even longer-term bonds to manage its assets and liabilities effectively. With its long-term investment approach, LIC is seeking to capitalize on the growing demand for health insurance and expand its presence in the Indian insurance market.
Policybazaar introduces 100% claim settlement option for planned hospitalizations on select health insurance policies.
Policybazaar, a leading insurance platform, has introduced a 100% claim promise on planned hospitalizations for select health insurance policies. This initiative aims to provide a hassle-free and financially secure experience for policyholders, ensuring that they can focus on their recovery without worrying about hospital bills. The benefit is available on specific plans from Bajaj Allianz, Niva Bupa, and Aditya Birla Health Insurance (ABHI).
To be eligible for the 100% claim promise, 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 selecting 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 among the insurers. Bajaj Allianz offers the benefit to both new and port policies with any sum insured, provided a consumables rider is added. Aditya Birla Health Insurance requires a minimum sum insured of ₹10 lakh and pre-admission intimation, after which the insurer connects the customer with a panel of doctors. Niva Bupa also requires a minimum sum insured of ₹10 lakh and 48-hour prior notification to the claim team.
Policybazaar aims to 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 initiative 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, the 100% claim promise is designed to alleviate financial worries during hospitalization, allowing policyholders to focus on their recovery. With this initiative, Policybazaar aims to provide a more customer-centric and secure experience for its policyholders, making it an attractive option for those seeking comprehensive health insurance coverage.
Niva Bupa has appointed Sridhar Srinivasan as an Independent Director.
EdgePoint Towers Sdn Bhd, a subsidiary of EdgePoint Infrastructure, a prominent ASEAN-based telecommunications infrastructure company, has achieved a significant milestone in its renewable energy endeavors with the successful launch of its first solar hybrid site. This noteworthy deployment marks a substantial step towards promoting sustainable energy solutions in Malaysia’s telecommunications sector.
The innovative solution has the capacity to provide up to 100% of the energy required to operate telecommunications equipment, thereby significantly reducing reliance on diesel fuel. The solar hybrid site boasts a 5.9-kilowatt peak (kWp) capacity, enabling it to operate autonomously and efficiently. This pioneering initiative is poised to have a positive impact on the environment by decreasing carbon emissions and mitigating the company’s carbon footprint.
The launch of the solar hybrid site is a testament to EdgePoint Towers’ commitment to embracing renewable energy and reducing its dependence on fossil fuels. By harnessing the power of solar energy, the company can minimize its environmental impact while also reducing operational costs associated with traditional energy sources. This forward-thinking approach not only benefits the environment but also enhances the company’s bottom line.
The successful deployment of the solar hybrid site demonstrates EdgePoint Towers’ dedication to innovation and sustainability. As a leading player in the telecommunications infrastructure sector, the company recognizes the importance of adopting eco-friendly practices and investing in renewable energy solutions. By doing so, EdgePoint Towers is setting a precedent for other industry players to follow, promoting a more sustainable and environmentally conscious approach to telecommunications infrastructure development.
The launch of the solar hybrid site is a significant milestone in EdgePoint Towers’ journey towards a more sustainable future. As the company continues to expand its renewable energy initiatives, it is likely to have a profound impact on the telecommunications sector in Malaysia and beyond. By embracing innovative and eco-friendly solutions, EdgePoint Towers is poised to remain at the forefront of the industry, driving growth and sustainability in the years to come. With its commitment to renewable energy, the company is well on its way to creating a more sustainable and environmentally conscious telecommunications infrastructure ecosystem.
Niva Bupa Health Insurance has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the reappointment of Krishnan Ramachandran as its Chief Executive Officer (CEO).
The Insurance Regulatory and Development Authority of India (IRDAI) has given its approval for the reappointment of Krishnan Ramachandran as the Chief Executive Officer (CEO) and Managing Director of Niva Bupa Health Insurance Ltd. This decision was made public through an exchange filing on Wednesday. As per the approval, Ramachandran’s tenure will be for a period of five years, commencing from May 1, 2025, and concluding on April 30, 2030.
Prior to this approval, the board of directors of Niva Bupa Health Insurance Ltd. had already given their nod for Ramachandran’s reappointment. Ramachandran has been associated with the company since April 2020 and brings with him a wealth of experience spanning up to 24 years in the health insurance, healthcare, and life sciences industries. His extensive experience and expertise are expected to continue benefiting the company during his reappointed term.
The reappointment of Ramachandran is seen as a positive move for Niva Bupa Health Insurance Ltd., as it ensures continuity in leadership and strategy, which is crucial for the growth and success of the company. Under Ramachandran’s leadership, Niva Bupa has likely undergone significant developments and improvements, and his reappointment suggests that the company’s board is satisfied with his performance and wants to build upon the progress made so far.
Ramachandran’s experience in health insurance, coupled with his understanding of the healthcare and life sciences sectors, positions him well to navigate the complexities of the health insurance market in India. His continued leadership is expected to guide Niva Bupa Health Insurance Ltd. towards achieving its goals, expanding its customer base, and enhancing its services to policyholders.
The approval from IRDAI is a regulatory endorsement of Ramachandran’s capabilities and the company’s decision to retain his services. It also reflects the confidence of the regulatory body in the leadership and management of Niva Bupa Health Insurance Ltd. As Ramachandran embarks on his new term, he will likely focus on leveraging his expertise to drive innovation, improve customer satisfaction, and contribute to the growth of the health insurance sector in India.
The Board will make an announcement by the end of March regarding our acquisition of a significant stake in a leading health insurance company, with myself, as MD and CEO, overseeing the transaction.
Life Insurance Corporation of India (LIC) is planning to acquire a stake in a standalone health insurance company by the end of the current financial year, according to Siddhartha Mohanty, the company’s Managing Director and Chief Executive Officer. The decision is contingent on regulatory approvals, which are expected to be obtained by the end of March 31. The acquisition is a natural step for LIC to diversify its portfolio and expand its presence in the insurance market.
While discussing the details, Mr. Mohanty hinted that the company is not planning to acquire a majority stake, but rather will be open to exploring all possible options. He also emphasized that as a long-term investor, LIC has contractual obligations to manage its investments and asset-liability management, citing the example of Western countries with long-term bonds.
The acquisition is expected to be a strategic move to tap into the growing health insurance market in the country. The health insurance sector is expected to be a major priority for the Indian government, with the aim of increasing penetration and coverage.
There are currently seven standalone health insurance companies operating in the market, including Star Health & Allied Insurance, Niva Bupa Health Insurance, Care Health Insurance, Aditya Birla Health Insurance, ManipalCigna Health Insurance, Narayana Health Insurance, and Galaxy Health Insurance.
Meanwhile, LIC has reported a 17% year-on-year increase in net profit for the October-December quarter, but its net premium income has seen a decline of 8.6% year-on-year. Despite this, the company plans to expand its portfolio by acquiring a stake in a health insurance company, which is expected to be a significant step in the company’s growth strategy.
Prudential plc and HCL Group are collaborating on a new health insurance joint venture.
UK-based Prudential Plc has announced a plan to establish a health insurance joint venture with India’s HCL Group. The new business will have Prudential Group Holdings Limited, a UK subsidiary, holding a 70% stake, while Vama, an HCL Group company, will hold the remaining 30%. This move is part of Prudential’s expansion in the Indian insurance market, which it has been a part of since the establishment of ICICI Prudential Life Insurance in 2001.
This development comes as other players in the Indian insurance sector are making significant moves. Public sector behemoth Life Insurance Corporation of India (LIC) is in the final stages of acquiring a substantial stake in a pure health insurance company and is expected to make an announcement before March 31. There are currently seven standalone health insurance companies operating in India, including Star Health & Allied Insurance, Niva Bupa Health Insurance, and ManipalCigna Health Insurance, among others.
In another significant development, German financial services firm Allianz SE has reportedly reached a preliminary agreement with Jio Financial Services Ltd, a joint venture between Jio Platforms and a clutch of investors, to establish a joint venture covering both health and general insurance businesses. This move comes days after Bajaj Finserv and Allianz SE announced the end of their joint venture, Bajaj Allianz, in a deal worth Rs 24,180 crore. Additionally, Patanjali Ayurved has entered the insurance sector through its acquisition of Magma General Insurance from Adar Poonawalla for Rs 4,500 crore.
Will LIC Offer Health Insurance? The CEO Has Spoken
The Life Insurance Corporation of India (LIC) may acquire a stake in a health insurance company by the end of March, CEO Siddhartha Mohanty has revealed. While the CEO did not provide further details on the potential deal, he clarified that the company is not looking to take a majority stake. This marks a significant move for LIC, which currently only offers life insurance policies, pension plans, and investment-linked insurance products, but not health insurance.
The Indian insurance sector has become increasingly competitive, with private insurers expanding their offerings in the health insurance space to capitalize on growing consumer demand. If LIC enters the health insurance market, it will face competition from major players such as Star Health Insurance, Aditya Birla Health Insurance, Niva Bupa Health Insurance, and Care Health Insurance. However, the company’s reputation and brand recognition could give it an edge in the market.
In addition to exploring health insurance, LIC is also in discussions with the Reserve Bank of India (RBI) on the issuance of longer-term bonds. The company is looking to invest in bonds with maturity periods of 50 years or even 100 years, which is longer than the current range of 20-40 years. The CEO noted that the company’s people are discussing this with the RBI and considering the option. This move is likely to have a significant impact on the Indian bond market and the country’s financial landscape.
Niva Bupa Health Insurance aims to achieve a capital adequacy ratio of 95% within the next three years, a strategic move to boost profitability.
Niva Bupa Health Insurance Co. aims to reduce its combined ratio to a range of 95-96% within the next two to three years, reported its Managing Director and Chief Executive Officer, Krishnan Ramachandran. The combined ratio is a key performance indicator (KPI) for insurance companies, measuring their profitability and financial stability. A combined ratio below 100 indicates profitability, while a ratio above 100 indicates lower profitability.
In the October-December quarter, Niva Bupa’s combined ratio stood at 96.3%, and for the nine months ending December 31, 2024, it was at 100.9%. The company’s financial performance for FY24 saw a combined ratio of 98.8%, with a target to achieve a steady state trajectory of 95-96% in the next two to three years.
To achieve this target, the company is working on improving its operational efficiency, underwriting, and claims management. Experts consider a combined ratio of 95-96% as a good indicator of an insurance company’s financial stability and profitability. Achieving such a ratio would demonstrate Niva Bupa’s commitment to maintaining a healthy balance between its expenses and premium income, ensuring long-term sustainability and growth.
Raising the bar to 95-96% would not only benefit the company but also its policyholders, as it would lead to more effective risk management, better claim settlements, and enhanced customer satisfaction. It is reassuring to see Niva Bupa’s commitment to striving for excellence, evident in its clear goal-setting and plans to improve its performance. With a combined ratio of 95-96%, Niva Bupa is expected to maintain its competitiveness in the market, increase customer trust, and ensure a strong financial foundation for the years to come.
Niva Bupa honours its advisors as ‘Health Captains’ with a new campaign, #KaamMeinShaanHai.
Niva Bupa Health Insurance Company Limited has launched a campaign titled #KaamMeinShaanHai to recognize and celebrate the valuable contributions of its advisors and agents. The campaign, which translates to “This is a Victory in their Work” in Hindi, aims to instill a sense of pride among advisors and acknowledge their selfless acts that go unnoticed in times of medical need. Advisors play a crucial role in guiding customers through the healthcare process, from selecting the right product to explaining benefits and assisting with claims processing. However, they often remain underappreciated and unseen.
The campaign will provide comprehensive learning modules to empower agents to upskill themselves not only on health insurance but also on healthcare, allowing them to become wellness consultants for their customers. The initiative will also create a series of videos showcasing instances of advisors managing customer anxiety and taking care of them during hospitalization. The company plans to shoot 1000 videos based on real-life experiences under the “Stories of Pride” initiative.
The campaign was unveiled in Delhi and Mumbai, with a series of events planned in eight major cities across India, providing advisors with insights, training, and resources to excel in their new roles. Nimish Agarwal, EVP and Chief Marketing Officer at Niva Bupa, emphasized that the campaign is a tribute to the advisors’ indispensable contributions and their dedication, aiming to empower and upskill them to play a more active and informed role as “Health Captains”.
The campaign is built on three pillars – empower, evangelize, and engage – aiming to equip advisors with the tools, knowledge, and recognition they deserve, enabling them to confidently guide customers towards the best healthcare solutions and become trusted healthcare partners. The initiative aims to address the lack of appreciation for advisors, recognizes their hard work, and celebrates their role in protecting families and guiding customers through critical health decisions.
Niva Bupa Embraces the Ambit of the Missing Middle with the Launch of Rise in India
Niva Bupa Health Insurance Company Limited, a leading standalone health insurer in India, has launched a new health insurance plan called “Rise” to address the health insurance needs of India’s “Missing Middle” segment. The plan is designed to make quality healthcare more accessible to this segment, which includes individuals who earn too much to qualify for government-sponsored health schemes but too little to afford private health insurance.
The “Rise” plan offers a range of features that cater to the unique needs of this segment, including:
* Flexi-Pay Benefit: Flexibility to pay premiums in installments, allowing customers to start their policy with a small token amount and pay the rest later.
* Smart Cash Benefit: A guaranteed cash payout of INR 5,000 for customers who choose to treat themselves in a government hospital.
* Return Benefit: A 50% refund of the total premium paid, with an additional 10% bonus added every year.
* Unlimited digital consultations in 16 vernacular languages.
* Optional benefits, such as modifying room type category, removing capping on modern treatments, and increasing the limit.
The plan is available in individual, multi-member, and family floater variants, with zone-wise pricing starting from INR 6,416 to INR 8,669 for a 35-year-old individual with a sum insured of INR 10 lakh.
According to Dr. Bhabatosh Mishra, Director – Underwriting, Products, and Claims, Niva Bupa, “Rise is not only a step forward in bridging the insurance gap for India’s Missing Middle but also aligns with IRDAI’s vision of Insurance for All by 2047.”
The launch of “Rise” is intended to bring about a paradigm shift in the way health insurance is perceived and consumed in India, making it more flexible, rewarding, and accessible to all. With its unique features and affordable pricing, “Rise” is poised to revolutionize the health insurance landscape in India.
A Chennai-based consumer court has ordered an insurance firm and a bank to collectively pay a compensation of Rs 51 lakh to the widow of a customer who had filed a complaint against them.
A widow and her son, Santosh and Sandeepan Sudhersan Sharma, have won a case against Niva Bupa Health Insurance and Karur Vysya Bank in the Chennai North District Consumer Disputes Redressal Commission. The commission ordered the companies to pay the family a compensation of Rs 51,00,000 and additional 9% interest on it, along with Rs 1,05,000 in compensation for deficiency in service, mental agony, pain, and suffering, and Rs 5,000 in litigation costs.
The case arose when Sudhershan Pohloram Sharma, Sandeepan’s father, took a housing loan of Rs 50,47,000 from Karur Vysya Bank in 2021. The bank required him to purchase a health insurance policy from Niva Bupa, which he did, paying a premium of Rs 2,99,956. When Sudhershan died in 2022 due to acute coronary syndrome, his wife Santosh and son Sandeepan tried to claim the insurance policy, but Niva Bupa denied their claim, citing that the cause of death did not fall under the critical illness benefits.
However, the commission found that Sudhershan’s death was due to myocardial infarction, which is one of the critical illnesses covered under the scheme. The commission held both Niva Bupa and Karur Vysya Bank liable for deficiency in service and directed them to pay the complainants the total amount of Rs 51,00,000 with 9% interest per annum from the date of death until the date of payment. The commission also ordered the companies to pay Rs 1,05,000 in compensation and Rs 5,000 in litigation costs within two months, failing which the complainants would be entitled to get the amount with 9% interest per annum from the date of the order until the date of realization.
According to IRDA’s 2025 report, Navi, Acko, and Reliance General Insurance topped the list with the highest claim settlement ratio among health and general insurance companies.
In today’s world, having a solid health insurance policy is crucial to bear the burden of medical expenses. General insurance companies also offer health insurance coverage, among other types of insurance. However, it’s essential to evaluate the effectiveness of your health or general insurer in settling claims on time. One way to do this is by checking the claim settlement ratio, which refers to the proportion of claims paid out of the total number of claims received. According to the Insurance Regulatory and Development Authority of India (IRDAI), the claim settlement ratio is a significant indicator of an insurer’s credibility. For instance, a health insurer with a claim settlement ratio of 93% means it typically pays around 93 out of every 100 claims it receives.
IRDAI releases a list of claim settlements done by all health and general insurers every year. In 2023-2024, over 71,200,854 claims were paid out, with 81.13% of these paid within 3 months of claim intimation. Among private general insurers, Acko General Insurance led the pack with a claim settlement ratio of 99.91%, while Navi General Insurance Ltd. was close behind with 99.97%. Public sector insurers like National Insurance Co. Ltd. and The New India Assurance Co. Ltd. also performed well, with settlement ratios of 91.18% and 92.70%, respectively.
Amongstand-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 also performed well, with settlement ratios of 92.77% and 92.02%, respectively. On the other hand, Star Health and Allied Insurance Co. Ltd. had the lowest claim settlement ratio within 3 months, but it paid out the most claims (16,80,171) in less than 3 months. Overall, it’s essential to evaluate an insurer’s claim settlement ratio, as well as other factors such as sum insured, waiting period, and network of hospitals, before finalizing a health insurance policy.