Aditya Birla Health Insurance Company 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 ABCL and MMI Strategic Investments (Pty) Ltd. hold 51 percent and 49 percent shares respectively. 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 Q1 FY19, ABHICL recorded a gross premium income of Rs.757 million and has covered more than one million lives. ABHICL has nation-wide distribution presence in over 600+ cities through branches and partner offices, 7 bancassurance partners and over 17,500 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 holding company of all the financial services businesses 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 businesses, ABCL is committed to serving the end-to-end financial services needs of its retail and corporate customers. Anchored by more than 16,000 employees, ABCL has a nationwide reach and more than 2,00,000 agents / channel partners.