PC Kandpal, MD & CEO, SBI General
PC Kandpal, MD & CEO, SBI General said “The launch of the new health insurance vertical will enable us to meet the rising demand of health insurance, and to provide best-in-class customer service. Through this vertical, we will manage all health-related claims in-house, thereby enhancing the customer experience and will be able to reach the market segments with a dedicated health sales agency. We will also expand our strategic partnerships to strengthen our network of providers, thereby benefiting customers across the country.”
Mumbai/Pune:
Aiming to emerge among the top companies in health insurance segment among general insurers over the next three years, SBI General Insurance launched a new health vertical with a vision of broadening access to quality and affordable healthcare across India.
New health vertical will offer in-house claims servicing to enhance customer experience and a dedicated sales agency to enable increase in reach of health insurance to a larger market segment.
The company also announced a tie-up with Apollo 24×7, offering various services to SBI General’s customers.
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 4 markets across India, thereby offer affordable and comprehensive health insurance products. The company announced that through the vertical, it will manage inhouse servicing of all health insurance claims to deliver a superior and hassle-free customer experience.
PC Kandpal, MD & CEO, SBI General said “The launch of the new health insurance vertical will enable us to meet the rising demand of health insurance, and to provide best-in-class customer service. Through this vertical, we will manage all health-related claims in-house, thereby enhancing the customer experience and will be able to reach the market segments with a dedicated health sales agency. 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.”
Ashwini Kumar Tewari, Managing Director (IB, T&S), State Bank of India, said “The industry has witnessed a significant rise in the demand for health insurance, especially in the wake of the pandemic. In this scenario, 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. It is of utmost important to increase the penetration of health care in tier III & IV, which will be enabled through SBI’s distribution strength. With all the enablers we are aiming for SBI General to be among the top three general insurance companies for health in next three years.”
The pandemic has underscored the importance of health insurance and staying financially secured against health conditions that emerge across different life-stages.
With the growing demand for health insurance, SBI General has witnessed a growth in adoption of its health insurance products. It has also recorded a strong performance in the health insurance segment with a 50 per cent growth in gross written premium GWP in FY 21-22.
To further its focus on health insurance, SBI General Insurance has partnered with Apollo 24/7, one of India’s largest omnichannel digital healthcare providers. This partnership is to offer access to various services offered by Apollo 24/7 to SBI General’s customers.
These services include tele/video medical consultations from over 9000+ verified Apollo doctors anywhere, at any time, with specialists across fields.
The collaboration will help in simplifying customers’ medical journey by providing digital health records through a digital vault, a tech-enabled concierge service for Apollo 24/7 Services, online consultations with nutritionists from Apollo experts for diet planning and nutrition management and promoting healthy eating habits to prevent and treat illnesses. These benefits and services can be availed under the ‘SBI General Sanjeevani’ section on SBI General mobile app.