Max Bupa completes two successful years of business operations
Poised to cover 1 million lives by 2015
Mumbai, May X, 2012- Max Bupa, a specialist health insurance company, today announced the completion of 2nd year of its operation in India. In these two years, Max Bupa has witnessed phenomenal growth, launched an array of innovative health insurance products and introduced unique service offerings to the Indian market. Max Bupa enters into the third year of operations with an aim to double its growth on all parameters and cover 1 million lives by 2015.
Highlights of the past two years
· Strong customer base of 2, 27, 650 (as on April 25, 2012)
· Introduced many industry firsts- any age enrolment, assured lifelong renewability, maternity and childcare benefits, coverage of all day care procedures and in house servicing of claims and all customer requests, cumulative deductible options for top up plans
· Launched six Health Insurance products including the flagship product Heartbeat which is one of the most comprehensive yet flexible plans in the market
· Offices in 11 key cities and presence in over 256 cities and 24 states with a strong network of 1200+ quality hospitals in India with reach in 263 cities
· The first insurance company in India with ISO 10002: 2004 certification for customer complaint management
· Emerged as a ‘trusted’ brand among customers with a strong network of quality agents; tie-ups with quality hospitals and comprehensive products with wide coverage of diseases (C-SAT report 2011)
· Best in class IT systems
· Completed quality assessment of 700 hospitals till date
· Expansion of Sales and Distribution network through:
- Agency network: A strong agent base of 9500+ across India
- Online sales
- The online medium is currently the largest source of leads/enquiries for Max Bupa and has been growing at upwards of 40-50% year – on – year.
- Indemnity health insurance policies (Heartbeat and Health@Companion) being sold via the online route
Future road map
· Planned capital investment of 700 crores for the first five years, so far invested around 300 crores
· Targets/plans for 2012:
- Cover 380000 lives
- Grow hospital network to 1400+
- New Business Premium of 15O crores+
- New product launch and add robustness to current pipeline
- Filed for the critical illness insurance product, to be launched by next quarter
- Planning to enter travel insurance a by next fiscal
About Max Bupa Health Insurance
Max Bupa Health Insurance is a 74:26 joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa, a leading international healthcare provider with 64 years of healthcare knowledge. Max Bupa brings together a combination of Bupa’s global health insurance expertise and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 850 people and its network of offices across eleven cities - Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Jaipur, Surat, Kochi and Kolkata. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups. Through its philosophy of “Your Health First” Max Bupa’s mission is to help customer’s live healthier and more successful lives.
Strong Network of over 1200 hospitals
Max Bupa Health Insurance has a direct working relationship with a network over 1200 top quality hospitals and healthcare providers and at the same time the company plans to extend its network of hospitals to other parts of the country. Max Bupa at present services customers directly without third party involvement, through an in-house team of relationship managers and also has a 24/7 health line for easy and friendly access to health advice. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.
About Max India: A reputation for excellence
The Max India Group brings expertise in Life Insurance and Healthcare with a strong presence in Life Insurance (Max Life Insurance Company), Healthcare (Max Healthcare Institute Limited) and Clinical Research (Max Neeman Medical International Limited). A Rs 7,891 crore group, it has over 500 offices across India, about 57,000 people, all focused on delivering value to its 4.4 million customers.
About Bupa: 65 years of Health and Care
Bupa’s purpose is to help people lead longer, healthier, happier lives. Established in 1947, it has over 11.3 million customers in more than 190 countries. Employing over 52,000 people, Bupa has operations around the world, principally in the UK, Australia, Spain, New Zealand and the USA, as well as Hong Kong, Thailand, Saudi Arabia, India, China and across Latin America. A leading international healthcare group, Bupa offers personal and company health insurance, runs care homes for older people and hospitals, and provides workplace health services, health assessments and chronic disease management services, including health coaching, and home healthcare. With no shareholders, Bupa invests its profits to provide more and better healthcare and is committed to making quality, patient-centered, affordable healthcare more accessible in the areas of wellness, chronic disease management and ageing.