Product of the Year is the world’s largest consumer-voted award for product innovation. The recognition is based on an independent consumer survey conducted by research firm NielsenIQ on behalf of Product of the Year, and serves as an internationally recognized certification of excellence in consumer products and services.

Commenting on the recognition, Shashank Chaphekar, Chief Distribution Officer, ManipalCigna Health Insurance, said, “Sarvah is an inclusive health insurance offering, thoughtfully designed to cater to the healthcare needs of every Indian, whether in metros or in Tier 3 and Tier 4 cities. With Sarvah, we have created a comprehensive solution that brings affordability, accessibility, and innovation together under one umbrella.” 

Sapna Desai, Chief Marketing Officer, ManipalCigna Health Insurance, shared, “The name ‘Sarvah’ which means ‘For all’, was born out of deep consumer insight. We wanted to create a product that would resonate with every individual, regardless of where they are in their financial or health journey. This recognition as Product of the Year is a proud moment for us. Sarvah offers standout features like Anant benefit, Gullak rewards, and flexibility through different plan options, making it truly a health insurance solution for all.” 

ManipalCigna Sarvah offers three differentiated plan options tailored to meet diverse healthcare needs:

·         ManipalCigna Sarvah Uttam features a customizable plan with the Anant benefit offering infinite coverage, empowering customers with the freedom to tackle life’s most critical health challenges.

·         ManipalCigna Sarvah Param delivers zero waiting period coverage and goes the extra mile to address all healthcare needs, offering customers instant peace of mind.

·         ManipalCigna Sarvah Pratham provides essential health insurance coverage, ideal for first-time buyers or existing customers seeking enhanced protection against serious illnesses.

This recognition further reinforces ManipalCigna’s dedication to building need-based health insurance solutions that are accessible, relevant, and designed to deliver lasting value.

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Bengaluru, 22^nd January 2025: Care Health Insurance, one of the leading Health Insurers of India, has announced the launch of Ultimate Care, a ground-breaking health insurance designed to set new benchmarks in health coverage. Ultimate Care combines extensive benefits tailored to address unforeseen medical emergencies and rewards you for staying healthy.

Ultimate Care offers extensive health coverage, including the MoneyBack feature, where policyholders will get rewarded for staying healthy. The company will refund first year’s base premium after every 5 claim free years. It’s Loyalty Boost provides additional Sum Insured (SI) which is equivalent to first policy year’s SI after 7 claim free years, while Infinity Bonus benefit doesn’t limit the cumulative bonus, providing a 100% bonus of SI every year, irrespective of claims made – unlimited times with continuous policy renewal. Additionally, the plan provides Wellness Discount which enables policyholders to enjoy up to 30% discount on renewal premium with the healthy days program.

Commenting on the launch, Ajay Shah, Head – Distribution, Care Health Insurance, said, “In the healthcare landscape of today, it is essential to provide customers with a comprehensive and robust financial security that addresses unforeseen medical exigencies while also encouraging a proactive approach to health and wellness. With Ultimate Care, we aim to establish a new standard in delivering unmatched financial health protection by enabling customers to prioritize their health and well-being first, thereby providing them the peace of mind they deserve.”

The policy introduces additional benefits designed to provide maximum value to policyholders. Welcome Discount that gives up to 30% discount on premium for new policyholders; Tenure Multiplier that combines annual Sum Insured of multi-year policy for a single claim in a policy tenure; MediVouchers for ease of out-of-pocket expenses with two pharmacy vouchers worth Rs 250 each, provided upon the first policy renewal.

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Bengaluru, October 24, 2024: TATA AIG General Insurance Company Limited, a leading general insurance provider in India, today announced the launch of five new riders offering more than 60 benefits, aimed at enhancing the flexibility and comprehensiveness of its retail health insurance products. As medical costs continue to rise and healthcare needs evolve, these riders are designed to provide customized protection, addressing emerging health concerns and lifestyle changes. The launch reflects TATA AIG’s commitment to advancing growth in the health insurance sector by offering innovative and pertinent solutions for its customers.

The new riders—Mental Wellbeing, EmpowerHer, OPD Care, CanCare, and Flexi Shield—are tailored to meet critical healthcare needs, such as mental wellness, female health and cancer coverage. EmpowerHer rider focuses on comprehensive healthcare issues of female, like infertility, PCOS and other gynaecological concerns, while Mental Wellbeing introduces an industry-first mental health preventive screenings and rehabilitation coverage. CanCare provides enhanced cancer protection, OPD Care and Flexi Shield ensure customers are protected against rising medical costs and everyday health expenses. 

Strategic Expansion and Market Growth

TATA AIG aims to enhance its health insurance operations over the next two years, targeting an expansion of its agent base from 92,000 to over 150,000 as part of its broader strategy. The company’s health insurance segment currently contributes 21% to its overall Gross Written Premium (GWP).

With the introduction of new riders and expansion of its distribution network, the company projects its retail health insurance to grow at a CAGR of 30% over the next three years. This growth reflects TATA AIG’s focus on positioning health insurance as a cornerstone of its business strategy, targeting both urban and rural markets.

Enhancements in Claims Process:

Tata AIG has also made significant improvements to its claims settlement process, which is critical to maintaining customer trust. The company’s cashless claims utilization has risen from 67.7% in FY 2022-23 to 76.95% in FY 2024-25, with 96% of cashless claims processed within four hours and 85% of reimbursement claims settled within five days.

The company aims to target 100% through cashless anywhere in coming years. These enhancements demonstrate Tata AIG’s commitment to providing fast, seamless service, setting new benchmarks in the industry for efficiency and customer satisfaction.

Network Expansion 

Tata AIG has aggressively expanded its network to ensure access to quality healthcare services across the country. With 11,700+ network hospitals across India, representing a 64% increase in the last 18 months, Tata AIG is committed to growing its presence, especially in underserved regions. The OPD network, which includes over 5,000 listed doctors and 3,000+ diagnostics providers, ensures comprehensive healthcare coverage, supported by a robust teleconsultation service in over 10 languages, further enhancing customer convenience. 

Pratik Gupta, Senior Executive Vice President & Head– Agency at TATA AIG General Insurance Company Limited, emphasized the company’s commitment to innovation and growth: “The launch of these new riders is a critical step in our strategy to accelerate growth in the health insurance segment. We are focused on driving expansion across India, particularly in tier 2 and 3 cities, where healthcare access and awareness are rapidly increasing. By scaling up our network of branches, agents, and hospital partners, we aim to make quality healthcare more accessible to millions, supporting our projected growth in health insurance.”

Key Rider Highlights:

1. EmpowerHer: Dedicated rider for comprehensive female health concerns, including PCOS, infertility, gynaecological issues, female-specific cancers and many more. It also includes preventive care coverages such as cervical cancer vaccinations.
2. Mental Wellbeing: Industry first coverages for mental health concerns that includes preventive mental health screenings, psychological therapy, rehabilitation services, with a focus on early and timely intervention.
3. CanCare: Expanded cancer coverage with lump sum payment of sum insured on diagnosis of cancer of specific severity.
4. OPD Care: Covers outpatient expenses like doctor consultations, diagnostics, pharmacy bills, and vision care, ensuring that the day-to-day health needs are met.
5. Flexi Shield: Designed to protect policyholders against medical inflation, offering unlimited restoration of sum insured with Restore Infinity+ and an Inflation Shield for protecting enhancing sum insured against rising medical cost, as well as other premium benefits like International second opinion, day 31 cover for pre-existing disease/s, worldwide hospital cash and many more.

With a presence in over 220 locations and a network of 11,700+ hospitals, TATA AIG is well-positioned to drive innovation in health insurance while enhancing its footprint nationwide.

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