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

Get ₹5 Lac Health Insurance starts @ ₹200/month*
Tax Benefitup to Rs.75,000
Save up to 12.5%* on 2 Year Payment Plans
7 Lakh+ Happy Customers

*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

Get insured from the comfort of your home No medicals required
I am a

My name is

My number is

By clicking on ‘View Plans’ you, agreed to our Privacy Policy and Terms of use
I am a

My name is

My number is

Select Age

City Living in

    Popular Cities

    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

    When did you recover from Covid-19?

    Some plans are available only after a certain time

    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
    12 Tips to Avoid Common Health Problems During Summers

    12 May 2022

    India experiences a hot and dry summer season that lasts for up to...
    Read more
    Does Medical Insurance Cover Hearing Aids?

    12 May 2022

    The number of people who require hearing aids continues to grow...
    Read more
    Are Accidental Injuries Covered by Health Insurance in India?

    12 May 2022

    Accidents are unpredictable. Getting injured in an accident not...
    Read more
    6 Most Effective Ways to Prevent Viral Fever

    12 May 2022

    A change in weather can bring respite from the scorching summer...
    Read more
    Does Health Insurance Cover Death?

    06 May 2022

    Life is unpredictable and so is death. A lot of people lose their...
    Read more
    PMJAY Scheme: Ayushman Bharat Yojana Eligibility & Registration Online
    Prime Minister Shri Narendra Modi announced the launch of (PMJAY) Ayushman Bharat Yojana in his Independence...
    Read more
    Best Health Insurance Plans in India 2022
    Finding the best health insurance plan from so many different health insurance companies can get confusing for many...
    Read more
    Best Maternity Insurance Plans
    Maternity insurance offers comprehensive coverage for medical expenses incurred during pregnancy, including the cost...
    Read more
    Best Health Insurance Plans for Senior Citizens in 2022
    Considering the increase in medical inflation in India, buying adequate health insurance for your loved ones has...
    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
    Download the Policybazaar app
    to manage all your insurance needs.