Max Bupa Health Insurance Company, the latest entrant in the group of standalone health insurance companies announced the completion their two successful years of operation in India. Max Bupa also shared their aim to double their growth on all parameters and cover 1 million lives by 2015.
The growing insurance sector in India has witnessed launch of monoline or specialist health insurance companies. These companies focus on offering only health insurance products popularly known as mediclaim insurance. After Apollo Munich and Star Health, Max Bupa entered this space of specialist health insurance companies in 2010.
Max Bupa which is headquartered in New Delhi, is a joint venture between Max India who holds 74% stake and the UK based Bupa Finance who holds 26%. Max Bupa pioneered many good features in the health insurance industry such as any age enrolment, assured lifelong renewability, maternity and childcare benefits, coverage of all day care procedures and in house servicing of claims. Their flagship product Heartbeat is one of the most comprehensive and flexible plans in the market.
Max Bupa is the first insurance company in India with ISO 10002: 2004 certification for customer complaint management. In a span of 24 months of business, Max Bupa has managed to build a strong customer base of 2, 27, 650 (Data as on April 25, 2012).
Max Bupa already has six health insurance plans in the market and a couple of them to be launched soon. Additionally, they also plan to enter the travel insurance market in the coming months.
