Max Bupa Health Insurance is targeting a first premium collection of Rs 70 crore nationally by the end of this calendar year. The company has already achieved Rs 40 crore as first premium collections during its 14 months of operations in the country.
Dr Damien Marmion, Chief Executive Officer, Max Bupa, said the company's aim is to emerge as the most-admired health insurance company in the Indian health insurance market. It has already insured more than 70,000 lives in less than 450 days.
Hospital network
Dr Marmion, who was here in connection with the opening of the company's Kerala operations, said Kochi is the 10th branch of the company and 11th branch would be opened in Kolkata in a couple of months. The company is already has a hospital network of 781 in over 120 cities for cashless cover and 4,000-plus agents across the country. Kerala, he said, offers a tremendous potential in the insurance market and the company aims to build awareness for the need of health insurance across the State, he added. Max Bupa will service the claims management with customers directly without third party involvement through an in-house customer service team and relationship managers. It has established direct relationships with a strong network of 28 top quality hospitals and healthcare providers in Kerala, including six in Kochi, for cashless cover. Another 33 hospitals are in the pipeline, he said.
Mr Dean Pollard, Chief Operations Officer, said the company's flagship product — Heart Beat Family First plan — has received the ‘Best Product Innovation Award' at the Indian Insurance awards 2011. The product has been designed keeping in mind the health insurance needs of the Indian joint family. Like wise, Employee First, the group medical insurance scheme targeting SMEs, received overwhelming response from the market, as the company collected Rs 1 crore as first premium in one year, he said.