Max Bupa to expand operations Plans to infuse Rs 500 cr over five years...

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 27, 2010 -- Max Bupa Health Insurance , which has just entered the health insurance sector in the country, is looking at expanding its operations in the tier-2 and tier-3 towns. Though present in six towns as of now - Delhi, Mumbai, Pune, Hyderabad, Bangalore and Chennai - the company is looking at expanding in Ludhiana, Jaipur and Surat.

It is also planning to infuse over Rs 500 crore in its operations in India in the next five years. “Our current paid-up capital is over Rs 150 crore, which we plan to raise to Rs 700 crore in the next five years," said Dr Damien Marmion, CEO, Max Bupa Health Insurance.

Talking to TNS here recently, Marmion said the focus of the company will be on tele selling and net selling, rather than opening new branches. “We already have presence in 130 cities across India and will continue to reach out to more cities through the new age techniques,” he added.

The CEO said they would also explore the possibility of having banks as a distribution channel for their policies. “Though we are not in talks with any bank as of now, but we will like to scout for partners in the banking sector,” he said. He added that they were planning to increase their headcount to 600 by the end of this year, and have an agent strength of 3,000.
Max Bupa is a joint venture between healthcare major Max and British health insurer Bupa. He said the USP for the company will be their products, which will focus more on family and their services. “We are also giving a lot of value addition to our clients like loyalty bonus, maternity benefits and renewal benefits, which will ensure good business for us,” he added.

The company, which started its operations in April this year, plans to get business worth Rs 25 crore by the end of this year. “We have already got business worth Rs 5 crore,” said the CEO.

Family Health Insurance     health care     health insurance     Health Insurance company     Health Insurance In India     health insurance quotes     insurance company     medical insurance