Aditya Birla Health Insurance Co. Limited (ABHICL), a subsidiary of Aditya Birla Capital Ltd (ABCL), is a joint venture between Aditya Birla Group and MMI Holdings of South Africa. ABHICL was incorporated in 2015 wherein Aditya Birla Capital Limited (ABCL) and MMI Strategic Investments (Pty) Ltd. hold 51% and 49% shares respectively. ABHICL commenced its operations in October 2016 and is engaged in the business of health insurance. ABHICL’s current product portfolio consists of unique offerings including chronic care and incentivized wellness.
ABHICL recorded a gross premium income of Rs. 3,155 mn in nine months of FY2018-19 and has covered more than 1.3 mn lives as on date. ABHICL has nation-wide distribution presence in over 650 cities through branches and partner offices, 9 bancassurance partners and over 17,100+ direct selling agents.
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 innovations and a wider choice of consumer relevant products. ABHICL has invested considerable time and effort to understand existing correlations between good health and individual health choices. ABHICL’s product philosophy aims to combine understanding of this science with an assessment of unaddressed needs of large customer segments which presently remain unfulfilled.
Aditya Birla Capital Limited (ABCL) is the financial services platform of the Aditya Birla Group. With a strong presence across the life insurance, asset management, private equity, corporate lending, structured finance, project finance, general insurance broking, wealth management, equity, currency and commodity broking, online personal finance management, housing finance, pension fund management, and health insurance business, ABCL is committed to serving the end-to-end financial services needs of its retail and corporate customers. Anchored by more than 17,000 employees, ABCL has a nationwide reach and more than 200,000 agents / channel partners.