Max Bupa to double biz this yr; to infuse Rs 100 cr

Max Bupa Health Insurance today said it is aiming to double its business this year and infuse Rs 100 crore by way of capital into the company.

"We are planning to double business this year by expanding distribution and agency channel. We are also planning to infuse Rs 100 crore this year taking the total capital base to Rs 550 crore," Max Bupa Health Insurance Chief Executive Officer Manasije Mishra told reporters here.

The private health insurer, which is aiming to break even in the next 3-4 years, has also chalked out plans to set up 12 new offices across the country and hire over 100 people to support the expansion, he said.

Meanwhile, the company today launched Group Personal Accident Plan designed for various groups, including corporates, communities, associations and institutes.

"This plan will provide security when it is most required. There has been a steady increase in the reported cases of personal accidents. This product is in line with employee benefit needs in India," Mishra said.

The plan allows customers the flexibility to choose additional benefits for all or select members in the group and also covers temporary total disability.

The plan also covers customers for broken bones providing lump sum amount for fractures and dislocations.

Max Bupa Health Insurance is a joint venture between Max India and Bupa, a leading international health care provider in operation for 65 years.