Pune (Voice News Service): Niva Bupa, one of India’s leading standalone health insurance players strengthens its presence in Pune, as part of its next phase of growth. Niva Bupa aims to provide health coverage to over 1,50,000 people of Pune by FY 23-24. The Company is targeting to clock around INR 95 crore gross written premium by FY 23-24 and onboard 5,000 agent advisors in the next two years. Customers can avail cashless hospitalization at 300+ network hospitals located in Pune and have access to 9,100+ hospitals across the country.
In the current phase of its expansion journey in the regional markets of India, Niva Bupa is marking its entry in Hadapsar. Niva Bupa targets to clock around INR 5 crore gross written premium in the next 5 years and bring around 5,000 people of Hadapsar under the ambit of health coverage by FY 2026-27. The customers can avail cashless hospitalization at 7 network hospitals located in Hadapsar. The company will also bring business opportunities for people as it plans to onboard around 1,100 agents in Hadapsar by 2027. The company will provide adequate training programs and encourage women and housewives living in the city to become insurance agents, thereby helping them to become financially independent.
As part of its growth plans in Maharashtra, Niva Bupa has consolidated its position in the region with a steady growth of 74% in retail business in the last two years and expanded to 14 cities in Maharashtra including 7 offices across Mumbai, Amravati, Jalna, Yavatmal, etc. Niva Bupa aims to achieve Gross Written Premium of INR 535 crore by FY 23-24. The company plans to provide health coverage to over 8,50,000 people of Maharashtra in next two years and onboard around 40,000 agent advisors by FY 23-24. In the last two financial years, the company has paid overall claims worth around INR 390 crores in Maharashtra, including INR 52 crores for Covid related hospitalization.
Talking about its expansion plans in Maharashtra, Mr. Ankur Kharbanda, Director – Retail Sales, Niva Bupa Health Insurance said, “At Niva Bupa, our endeavour is to bring a shift in the narrative around Health Insurance, to enable people to invest in health insurance early in life to secure the health of their loved ones to avail quality medical services whenever needed. With the surge in critical illnesses and lifestyle diseases and medical inflation in India, health insurance has become a priority purchase today.
We are expanding our footprint in the Tier 2, 3 and beyond markets to democratise health insurance and make it affordable and accessible for everyone, which will thereby lead to health insurance penetration across markets. Moreover, we are investing heavily in growing our product portfolio. We plan to continue on our growth journey by introducing more innovative products to serve the evolving and diversified needs of our customers.”
Niva Bupa is one of the most trusted brands in the country with around twelve years of experience in offering quality healthcare support to people pan India. The company offers a wide range of comprehensive plans including indemnity, fixed benefit, and disease-specific products such as ReAssure, Health Premia, GoActive, Senior First, Criticare, Health Recharge, TravelAssure, etc. to suit the varying health needs of today’s customers.
