Aditya Birla Health Insurance Co. Limited (“ABHICL”) was incorporated in 2015 as a 51:49 joint venture between MMI Strategic Investments (Pty) Ltd, MMI Holdings Limited, Aditya Birla Nuvo Limited and Aditya Birla Capital Limited (ABCL). ABHICL commenced its operations in October 2016 and is engaged in the business of health insurance. ABHICL’s current product portfolio includes unique offerings including chronic care and incentivised wellness.
As on H1 FY17-18, ABHICL recorded a gross premium income of Rs.962 million. ABHICL has a nation-wide distribution presence across 34 cities, 5 bancassurance partners and over 8,821 direct selling agents. The company has over 1,200 employees and has covered more than 6 lakh lives.
ABHICL serves as an enabler and influencer of health and healthcare choices that customers make, in addition to being a payer of healthcare expenses. Thus, ABHICL would act like a much-needed catalyst to grow the prevalent health insurance landscape in India through product innovation and a wider choice of consumer relevant products. .
Aditya Birla Wellness Private Limited, also a 51:49 joint venture with MMI Holdings, manages the wellness benefits under approved insurance products of ABHICL and is in the process of launching ‘Multiply’, wellness and rewards program which rewards customers with discounts on a variety of partner brands.
ABCL, the holding company, is a universal financial solutions provider and one of the largest financial services players in India. It is committed to serving the end-to-end financial needs of its retail and corporate customers under a unified brand — Aditya Birla Capital. Delivering a wide range of money solutions for protecting, investing and financing, Aditya Birla Capital serves millions of customers across the country.
Apart from health insurance, ABCL has a significant presence across several business sectors including NBFC, asset management, life insurance, housing finance, private equity, general insurance broking, wealth management, broking, online personal finance management and pension fund management.
Aditya Birla Capital, through its subsidiaries and joint ventures, manages aggregate assets worth Rs. 2,813 billion and has a lending book of Rs.447 billion as of 30 September 2017.
For more details, please visit: www.adityabirlacapital.com/healthinsurance