Niva Bupa Health Insurance Pvt. Ltd. (formerly known as Max Bupa Health Insurance Pvt. Ltd.) – one of India’s leading standalone health insurance players, today announced its entry in Nagpur, as part of its next phase of growth. Niva Bupa is starting its operations in Nagpur and aims to provide health coverage to over 26,000 people in the next five years. Niva Bupa is on a strong growth journey with presence in 350 cities and recently marked the opening of 100 offices across the country. In the current financial year, the company has opened 1 office in every 3.5 days and aims to
cover 600 cities by FY 24.
Covid-19 pandemic has led to increasing in awareness about the importance of health insurance. Consumers today are much more evolved and have realized that with the right sum insured coverage, they can tide through any medical crisis. A survey conducted amongst the insurance agents across Maharashtra revealed that there is a substantial increase in the demand of health insurance post-Covid.
However, the study also highlights that lack of awareness and clarity on health insurance is limiting the purchase of health insurance products in the region. This expansion is in line with Niva Bupa’s vision of making quality healthcare services accessible to all and enabling people to lead fulfilling life. During the Covid-19 pandemic, the company paid Covid related claims worth INR 409 crores to 30,000 customers overall, including INR 80 crores in Maharashtra alone, helping people during the toughest hours.
With this expansion, Niva Bupa targets to clock around INR 20 Cr gross written premium and 8 times increase in policy purchase in the next five years in Nagpur. The company will also bring business opportunities for people in the city as it plans to onboard around 3,000 agents by FY 25-26.
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. In Nagpur, Niva Bupa customers can avail cashless hospitalization through 111 network hospitals and 7900+ hospitals across the country. With this launch, the company now has presence in 17 markets in Maharashtra including Mumbai, Pune, Aurangabad, Ahmednagar, Nashik, Sholapur, Boisar, Dadar,
Vashi, Jalgaon, Panvel, Kalyan, Dombivali, Vasai and Satara.
Talking about its expansion plans in Nagpur, Mr. Ankur Kharbanda, Director – Retail Sales, Niva Bupa
Health Insurance said, “We are excited to strengthen our reach in Nagpur as Maharashtra is an
important market for Niva Bupa from health insurance penetration perspective. Covid-19 has led to
significant increase in awareness of the importance of health insurance and our intent is to provide
comprehensive health insurance plans and quality healthcare access to every citizen of the country. We
are also focused on expanding our product portfolio to bring products as per the evolving health needs
of today’s customers.”
Niva Bupa aims to democratize health insurance by positioning it as an enabler for living a carefree life.
To bring its new philosophy to life, Niva Bupa has recently launched a brand campaign – ‘Zindagi Ko
Claim Kar Le’ that aims to change the narrative around health insurance while eliminating the fear
element often associated with it. With this new campaign, the company has gone deeper in bringing
spotlight on the role of health insurance in the life of consumers, partners, advisors, while redefining
and recalibrating its purpose, in line with its growth aspirations.
Niva Bupa is one of the most trusted brands in the country with more than a decade’s experience in
offering quality healthcare support to people. The company offers a wide range of affordable,
comprehensive, and disease-specific products as per customers’ varying health needs. The robust
product portfolio of Niva Bupa includes indemnity products like ReAssure – a 100% cashless plan, Senior
First, Personal Accident plan, Health Companion, GoActive, Health Premia, and Health Pulse. Other
products include Health Assurance – Niva Bupa’s fixed benefit plan providing Personal accident cover,
Hospicash & Critical illness cover, and Health Recharge – Super top-up plan. The company also offers
entry-level covers such as Aarogya Sanjeevani and disease-specific products like Corona Kavach, allowing
people to choose the suitable product for themselves.