SBI General Insurance on Wednesday launched its health vertical with an eye to becoming among the top general insurers in health insurance over the next three years.

“The company aims to leverage the expansive footprint and network of its parent company, State Bank of India, to further entrench health insurance penetration in Tier-3 and Tier-4 markets across India and offer affordable and comprehensive health insurance products,” it said in a statement.

The insurer plans to manage in-house servicing of all health insurance claims through the vertical.

Core objective

“The core objective behind this new step is to make health care available across the length and breadth of the country at an affordable cost. With all the enablers, we are aiming for SBI General to be among the top three general insurance companies for health in the next three years,” said Ashwini Kumar Tewari, Managing Director (IB, T&S), State Bank of India.

The move comes at a time when there is growing awareness and demand for health insurance products due to the pandemic. SBI General Insurance recorded a 50 per cent growth in gross written premium in 2021-22.

“We will continue our product innovation journey and introduce need-based health insurance products that cater to the evolving customer needs. We will also expand our strategic partnerships to strengthen our network of providers, thereby benefiting customers across the country, “said PC Kandpal, MD and CEO, SBI General.

To further its focus on health insurance, SBI General Insurance has partnered with Apollo 24/7 to offer access to various services offered by Apollo 24/7 to its customers.