Recently, the health insurance company, Niva Bupa, said that the company seeks to have a gross written premium of Rs 10000 by FY27. This statement came with further explanation that the company expects to achieve this target of an industry metric for total revenue gross written premium worth Rs 10,000 crore by the financial year 2026-2027. Do you know what was the gross written premium of Niva Bupa Health Insurance Company in FY23? The gross written premium of Niva Bupa Health Insurance Company in 2022-23 was Rs 4070 crore. In the following sections, we have given a lot more details about Niva Bupa Health Insurance Company’s goal for attaining the written premium of Rs 10,000 by 2026-27. Take a look at the following section and learn more details.
The executive vice president and chief marketing officer of Niva Bupa Health Insurance Company, Nimish Agrawal said, “In FY23, we had a gross written premium of Rs 4,070 crore and we expect it to cross Rs 10,000 crore by FY27, on an average of at least 28 percent per annum. The three drivers of growth include digitization, distribution, and innovation,” Furthermore, the health insurance company added that the company is gaining the most from markets like Tamil Nadu. Continue reading this article. Scroll down.
Nimish Agrawal kept on saying, “The category has grown at 24 percent over the past 3 years and we were rising at around 49 percent. We have grown by around 40 percent during the period of April-September. Our existing market share was 8.2 percent for FY23 and in the month of October, we were at 9.2 percent. So, we are growing,” Niva Bupa which was formerly known as Max Bupa Health Insurance, recently hosted a symposium to discuss the healthcare needs in Chennai and Tamil Nadu. The health insurance company added the symposium was organized to have a conversation on health insurance opportunities in the region. Take a look below for more.
Niva Bupa Health Insurance’s chief distribution officer Ankur Kharbanda said “Understanding the nuances of health insurance in the ever-evolving landscape of healthcarehas never been more crucial. The total health insurance business in India for the Financial Year 2024 reached an impressive Rs 58,974 crore, as of September 2023” The health insurance company has 1072 offices across India and it aims to achieve a GWP of Rs 5,000 crore by the end of this fiscal year, 2023-24. Stay tuned to this website for more details and further updates.