General insurance major Chola MS has launched a mobile application - Wellness on the Go, for its customers. Announcing the launch, S.S. Gopalarathnam, Managing Director of the company, said it is part of the company’s mobile initiatives to give a host of value-added services to its customers. The app for Android-based mobile phones, developed by a third party vendor, would offer a range of benefits and convenient access to the network of hospitals offering cashless treatment facility. It also features other facilities such as pedometer, body mass index (BMI) calculator and blood sugar tracker.
According to Gopalarathnam, once downloaded on to a mobile phone, the app will double as e-health card for self and family. The customer can use the e-card along with a valid photo identity proof to avail cashless hospitalisation. Policy details such as coverage, sum insured and renewal reminder will be displayed on the mobile. Hospital network with geo-tagging on Google Maps will be another benefit available on the app, he explained.
The company, part of the ₹22,500-crore Murugappa Group, has a total customer base of 5.6 million. Last year, it collected gross premium of close to ₹1,620 crore, “and, this year we expect to cross ₹1,900 crore,” said Gopalarathnam. Of the total business, motor insurance is a major chunk with 67 per cent share, followed by 14 per cent health insurance and the remaining from other sectors. It also plans to introduce a similar app for its motor insurance customers also in the next couple of months.
“Over the next five years, when we expect our gross premium collection to cross ₹7,500 crore, we want to increase our exposure to health to 25 per cent and reduce our motor insurance portfolio to 55 per cent,” he said.