Friday, July 14, 2006

India's first standalone health insurance company

India's first standalone health insurance company: "Why a standalone health insurance company when so many others are debating the viability of Rs 100 crore capital investment? I feel there is tremendous potential in the health insurance business. Currently, the health business is pegged at about Rs 1,700 crore a year, whereas I see the potential at about Rs 15,000 crore and, this is set to grow phenomenally once the tariff regime goes off from 1 January 2007. The regulator has been very supportive of our venture and, as you can see, our starting capital is Rs 105 crore and we have a group of committed investors including Oman Insurance Company that has a 10 per cent stake, besides few other businessmen from the Gulf. Moreover, one must realise that all other forms of non-life insurance business is linked to the economy, whereas health is a category by itself. I feel a specialist health insurer is the need of the hour. And we have the first mover advantage."
The Indian health insurance market is hotting up ! Health insurance plans can serve as important catalysts in improving healthcare services for the population.

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