Page 13 - Insurance Times April 2017 Special Issue on Newindia

Reliance to set up standalone health insurance business Cabinet says yes to Na-
Reliance Capital will set up a standalone health insurance company separating
the wing from the general insurance entity. The board of tional Health Policy
directors of Reliance General Insurance Company (RGIL), a The Union Cabinet has approved the
subsidiary of Reliance Capital, has approved the proposal to National Health Policy, meant for as-
separate the health segment. Sector regulator Insurance suring free
Regulatory and Development Authority of India (IRDAI) is health ser-
yet to approve the plan. vices in vil-
lages.
Reliance Health Insurance, the proposed new company, will
be a wholly owned subsidiary of Reliance Capital, a company The draft
statement said. Health insurance business, one of the fastest growing in India, was first is-
is estimated to double to about Rs 50,000 crore ($8 billion) by 2020. RGIL's sued in 2015
health insurance portfolio recorded gross premium of Rs 570 crore ($87 million) where the policy aims at tackling
as of March 31, 2016. Ravi Viswanath has been named the CEO of Reliance non-communicable diseases, up-
Health Insurance Co. grading district health centres and
ensuring the improvement of
Tamil Nadu health insurance scheme expands further immunisation facilities in district
The Tamil Nadu Health Insurance Scheme which has previously covers 1.57 crore health centres.
families, now spreads its wings to cover more The policy aims to ensure enough
people, including migrant workers and undocu- public health facilities in rural areas.
mented orphans, and 321 more medical proce- As of March 2016, 25,354 primary
dures. health centres (PHCs) were opera-
Under the new scheme, renewed with United tional. While the National Health
India Insurance Company on January 10, more Policy's (2017) target is to spend 4-5
than 1,100 treatment procedures will be covered, including all congenital anoma- per cent of gross domestic product
lies. The state renewed the contract for a four-year term with an annual pre- (GDP) on healthcare services, India
mium payment of Rs 1,069 crore. has not been spending 2 per cent of
GDP to provide healthcare services.
"On a per family basis, the government is paying Rs 699 compared to Rs 497
we paid earlier. In a first for India, we will cover autistic children," said Dr T S The chairman of the health commit-
Selvavinayagam, additional director of public health and preventive medicine, tee at the PHD Chamber of Com-
who is in charge of the Tamil Nadu Chief Minister's Comprehensive Health In- merce, Nishant Berlia, said, "The
surance Scheme. new policy is a welcome move be-
cause there was a need for an up-
"The coverage is extensive under the new scheme. We will be covering heart
and lung transplants, cochlear implant, bone marrow transport, radiation dated health policy."
therapy, surgical oncology. Another first is that the new scheme will cover
bariatric surgery for the morbidly obese," said Selvavinayagam. Tirupur Exporters' Asso-
ciation launches medical
Vakrangee ties up with Aditya Birla Health Insurance Co.
Vakrangee Limited has announced a corporate agency tie-up with Aditya Birla insurance scheme
Health Insurance Company Limited for distribution of Tirupur Exporters' Association (TEA)
Health Insurance products. has launched a medical insurance

While Aditya Birla Health Insurance will be able to scheme with an insurance coverage
expand its distribution network in more than 29,000 of Rs 1 lakh with a payment of Rs 1
Vakrangee Kendra outlets, Vakrangee will have daily to the labours. The scheme
added range of quality products to offer through its Mediplus 365, having an annual pre-
vast distribution network. mium of Rs 365, will be executed by
Edelweiss Insurance Brokers Ltd,
This partnership between a Fortune 500 Indian Group and one of South Africa's
Mumbai, through New India Insur-
largest insurance companies aims to revolutionise the Indian health insurance ance Company, a TEA release said.
industry with a unique offering for customers.

The Insurance Times, April 2017 13

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