Page 16 - Insurance Times December 2015 SAMPLE

Health Insurance

News

Future Generali India Insurance looks at 50% YoY Pain Therapy Packages
growth with 'Health Total'
from Star Health Insurance
Future Generali India Insurance Com- much larger growth. We expect the
pany Limited (FGII), a joint venture health business to contribute 20% of Star Health and Allied Insurance Com-
between Future Group launched our total business by FY 2017." pany introduces innovative health in-
'Health Total' - a comprehensive health surance packages for pain therapy.
insurance policy. With the launch of The policyholders not only get
'Health Total' and other new products hospitalisation cover, restoration ben- "Around 12,000 bariatric surgeries
in future, the company is aiming for a efit, 50% cumulative bonus for every took place in In-
50% year on year growth in its retail claim free year but also OPD cover, dia in 2014-15,
health portfolio over the next three vaccination expenses, treatment taken but most insur-
years. abroad for certain conditions, mater- ance companies
nity cover with shorter waiting periods do not offer in-
K.G. Krishnamoorthy among others with Health Total as per surance for such
Rao, MD and CEO, Fu- the plan opted for.There is an option
ture Generali India In- of Voluntary deductible through which problems," said S. Prakash, Executive
surance Company the insured can avail of discounts in the Director, Star Health and Allied Insur-
Limited said, with the premiums. ance Company.
launch of Health Total
and other new prod- The cover is available for a minimum "The number of people undergoing
ucts in future coupled with strong dis- of one year to a maximum of three such surgeries is likely to increase and
tribution channels, we aim to create a years. The policyholders can pay the hence, it is necessary for companies
deeper penetration of health insur- premium up-front for long term policy to cover such procedures", he added.
ance in the country. Though the sec- for which a discounted rate will be
tor has been growing at 20% over the charged to them. Alternatively the Prakash said that therapies like anes-
last few years, we see a potential for premium can also be paid in install- thetizing a particular nerve to stop
ments. pain would be covered in this scheme
and these have huge potential as
Star Health: We hope to post Rs 100 crore profit many people undergo such treat-
ments for relief. Almost 40 per cent
The country's first standalone health insurance company Star Health and Allied of the 3.2 lakh medical claims the
Insurance is looking to post its maiden underwriting profit in the current fiscal. company received last year were for
non-communicable diseases, such as
"We are expecting an underwriting profit in the current fiscal diabetes and cancer.
for the first time since inception in 2006. We hope to post Rs
100 crore profit," Star Health Senior VP (Marketing & Sales) "Earlier, 70 per cent of our claims
Anand Roy said. were for infections and fever but now
chronic ailments are on the rise and
The company will be expanding in the East with four new insurance companies should come up
branches, of which three are in West Bengal (Kolkata, Siliguri, with innovative packages like the pain
Midnapore) and one in Odisha (Sambalpur). therapy that cater to the needs of the
people," Prakash said lastly.

12 The Insurance Times, December 2015

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