Max Bupa completes three years of business operations

Max Bupa’s customer base has increased threefold in the past one year

June 20, 2013 4:28 IST | India Infoline News Service
Max Bupa Health Insurance Company has completed three successful years of business operations and recorded year-on-year growth of 109% in its gross premium, driven by its strong focus on product and technological innovation. It has witnessed phenomenal growth on all parameters from customers, products, network of quality hospitals and channels of sales and distribution. Max Bupa’s customer base has increased threefold in the past one year and for now exceeds 1.2 million. The total GWP in FY 2012-13 grew to Rs.207 crore from Rs.99 crore.

The company’s product portfolio consists of comprehensive products in both retail and group including Heartbeat, Health Companion, Health@Companion, Health Assurance, Employee First, Swasthya Pratham and Swasth Parivar. Max Bupa has 21 branch offices in 13 cities and a network of 2000 quality hospitals across the country.

Max Bupa has distinguished itself by being the first in the industry to introduce innovative products and services. Over the past three years, the company has pioneered products - Heartbeat Family First which cater to the need of the Indian Joint family and covers 13 relationships; no age limit and lifelong renewal, among other innovative initiatives. Entering into its fourth year of operations, Max Bupa aims to double business this year.

Max Bupa has today launched the Group Personal Accident (GPA) plan, a comprehensive personal accident cover designed for various groups including corporates, communities, associations and institutes. The plan is one of the most flexible group personal accident covers available in the market. This plan allows customers the flexibility to choose additional benefits for all or select members in the group. Max Bupa Group Accident Plan introduces many new to market features like Corporate Floater and coverage for Broken Bones. It also covers Temporary Total Disability.

The Corporate Floater Cover provides the employer flexibility to create a common pool of money that can be used at its discretion. This can be utilized over and above an individual’s policy limit. Another unique benefit of this plan is that it covers customers for broken bones, which provides them lump sum amount for fractures and dislocations that can help them cover outpatient expenses like cost of bandages. Accidental Medical Reimbursement is also a key optional benefit that offers coverage for inpatient treatment in case of accidents and can be availed as Fixed or Variable medical expense.

Manasije Mishra, Chief Executive Officer, Max Bupa Health Insurance said, “The launch of Group Personal Accident Plan is in line with our philosophy of designing comprehensive customer centric products that will provide security when it is most required. Over the past few years, there has been a steady increase in the reported cases of personal accidents in the country. Our Group Personal Accident Plan aims to provide the safety net for such unforeseen contingencies. With Employee First we have already established our presence in the employee benefits market. This product is in line with employee benefit needs in India.”

Max Bupa also announced the launch of Get Help, a first of its kind engagement platform on Facebook to reach out to its customers and be present wherever they are. The innovative platform enables customers to buy a health policy from their Facebook account, interact and share their experience with Max Bupa and also get instant customer service at their convenience from anywhere, anytime.

Committed to making quality Health Insurance more accessible to customers, Max Bupa is using technology to deliver Health Insurance to customers within minutes, at the click of a button.

Emphasizing Max Bupa’s effective usage of the Facebook platform, Manasije said, “A recent Bupa study indicates that health is emerging as one of the priority agenda amongst Indians on the social media. 34% of users are either seeking answers to their health queries. With the launch of Get Help, we are engaging with our existing and potential customers on the social medium.”

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