Tata AIG to Double its Exposure in Health Insurance

Tata AIG General Insurance Co Ltd, a joint venture between Tata Group and American International Group Inc (AIG), is planning to focus on health care by recruiting 3000 more agents and doubling its portfolio in health sector. Kaushal K Mishra, CEO and Managing Director of Tata AIG believes that health insurance might not be a loss making segment, if the insurance companies carefully consider the health condition of an individual and does not offer unviable premium rates in case of group insurance.

Read More

Policybazaar exclusive benefits
  • 30 minutes claim support*
  • 50,000 claims approved in last 15 months*
  • Schedule home visit with our advisors
  • Get a plan based on your medical needs

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Tax benefit is subject to changes in tax laws. Standard T&C Apply

All health plans cover Covid-19 treatment
  • 1
  • 2
  • 3
  • 4

Who would you like to insure?

  • Previous step
    By clicking on “Continue”, you agree to our Privacy Policy and Terms of use
    Previous step

      Popular Cities

      Previous step
      Previous step

      Do you have an existing illness or medical history?

      This helps us find plans that cover your condition and avoid claim rejection

      Get updates on WhatsApp

      What is your existing illness?

      Select all that apply

      Previous step

      When did you recover from Covid-19?

      Some plans are available only after a certain time

      Previous step
      Advantages of
      entering a valid number
      You save time, money and effort,
      Our experts will help you choose the right plan in less than 20 minutes & save you upto 80% on your premium

      Talking about the performance of industry, he said that the company was growing on a good pace of about 15-20 % since 2010, but in 2013-14 the percentage descended to 12%. The slowdown brought the tough phase. They are expecting that the industry might regain its growth momentum from the October-December quarter. Kaushal believe that the auto sector is likely to offer good returns in the coming time and the health sector is sure to gear up if the government offers tax benefits to individuals on health premiums

      When asked about the target for the present year, Kaushal told that last year the gross premium collection was Rs. 2,456 crore and the underwriting profits for last two years. Now, with major focus on health sector, the company is targeting at least Rs. 3,030 crore. The reason for concentrating on health is the company’s smaller portfolio i.e. of about less than 5% of the gross premium.

      CEO believes that although health sector has not been offering good returns still the company wishes to double its exposure as it thinks that genuine premium rates can help any industry grow better and it considers Star Health as a classic example for understanding the growth in health sector. Talking about the industry experience, he said that one group insurance can never flourish at uneconomical rates. Thus, the company has avoided group insurance and RSBY (Rashtriya Swasthya Bima Yojana) because these are not economically feasible.

      He informed that 40% of the gross premium is received from auto sector. The company does not have a very vast exposure in auto and is not even willing to go for the same. The company has a limited bandwidth and needs to use it judiciously.

      Discussing the company’s growth strategy, Kaushal K Mishra informed that the company is planning to open 20 more branches to reach the count of 100 by October. His main focus is to reach the unaware small cities where the business of health insurance could flourish. He is also interested in increasing the number of agents from 7000 to 10000.

      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

      Health insurance articles

      Recent Articles
      Popular Articles
      Does Health Insurance Cover H3N2 Virus?

      20 Mar 2023

      The seasonal H3N2 virus is rapidly spreading across India. As per
      Read more
      Common Wellness Benefits Offered by Health Insurance Plans

      14 Feb 2023

      Health is the biggest wealth in the true sense. No matter how much
      Read more
      Should You Buy a Super Top-up Health Insurance Policy?

      18 Jan 2023

      India is abuzz with a variety of health insurance plans to cater
      Read more
      6 Reasons Why Your Cashless Health Claims Can Get Denied

      18 Jan 2023

      Cashless claims are one of the most lucrative benefits of buying a
      Read more
      Check Out the Mandatory KYC Documents for Health Insurance

      30 Dec 2022

      The Insurance Regulatory & Development Authority of India
      Read more
      What are the Normal Thyroid Stimulating Hormone (TSH) Levels as Per Age?
      The thyroid gland is an important gland responsible to produce the right amount of hormones for normal body
      Read more
      How to Apply for Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY)?
      Ayushman Bharat Yojana is a flagship health insurance scheme launched by the Government of India to offer universal
      Read more
      10 Major Benefits of Ayushman Bharat Yojana
      Pradhan Mantri Jan Arogya Yojana (PM-JAY) is the second component under Ayushman Bharat Scheme. PM Narendra Modi
      Read more
      Best Health Insurance Plans for Senior Citizens in 2023
      Senior citizens are the most prone to diseases. Considering the medical inflation in India, buying health insurance
      Read more
      Income Tax Slab for Women: Guide to Exemptions and Rebates
      In India, every person who earns beyond a certain limit is liable to pay income tax to the government. The tax
      Read more

      Download the Policybazaar app
      to manage all your insurance needs.