Max Bupa eyes 35 per cent growth in GWP in 2018-19

Private sector health insurer Max Bupa has targeted 35 per cent growth on the total gross written premium (GWP) for the current financial year, a top official said here today.

The company, which signed an agreement with Tamil Nadu-based Karur Vysya Bank to retail its insurance products at the bank's branches, posted a 27 per cent growth last year as against industry growth of 22-23 per cent, Max Bupa, Managing Director and CEO, Ashish Mehrotra said.

"Last year, we grew more than the industry growth. For current (financial) year, we are looking at a growth of about 35 per cent. Last year, we ended total GWP of about Rs 775 crore," he told PTI.

On factors that offer the growth, Mehrotra attributed the increase in awareness levels among the public on health insurance policies and the agreements made by the company.

On the signing of corporate agency agreement with Max Bupa, Karur Vysya Bank, Managing Director and CEO, P R Seshadri said the health insurance products of Max Bupa would be offered at the bank's branches.

Max Bupa under the agreement would set up 25 AnyTime Health (ATH) machines in the branches of bank over the next three to five months and would train some of the bank employees, he said.

The ATH machines would check health assessment of customers on body mass index, blood pressure, body type and fat, muscle per centage, bone mass leading to the purchase of a health insurance policy through the system.

The company has customised the health insurance plans offered through machines for upto Rs 20 lakh, Mehrotra said.

"Basically, we are a B2C player. We have customised the plans that are offered through the ATH. Apart from that we have plans that offer Rs one crore (health insurance policies)," he said.

The ATH machines, each costs about Rs 4.50-Rs 5 lakh, would also be set up at airport and shopping malls, he said.