SBI General Insurance Launches new Health Insurance Vertical

BANKING AND ECONOMY

On the demand for health insurance, a new health insurance ‘vertical’ was launched by the ‘SBI General Insurance’ with an aim to provide best-in-class customer service in health insurance. 

Through this new launch, the company plans to focus on affordable and comprehensive health products. The launch was aimed the SBI General to be among the top three general insurance companies for health in the next three years.

The company aims to leverage the expansive footprint and network of its parent company State Bank of India to further entrench health insurance penetration in tier 3 and 4 markets across India. The company focuses on health insurance as the sector recorded a strong performance with a 50% growth in GWP in FY21-22.

The core objective behind this new step is to make health care available across the country's length and breadth, mainly in tier 3 & 4 cities at an affordable cost. 

SBI General Insurance has also partnered with Apollo 24/7 to offer its customers access to various services offered by Apollo 24/7. The service includes tele/video medical consultations, digital health records, online consultations with nutritionists, and promoting healthy eating habits to prevent and treat illnesses. These benefits and services can be availed under the ‘SBI General Sanjeevani’ section on SBI General mobile app.

 

   Important points for the exam:

  • On the demand for health insurance, a new health insurance ‘vertical’ was launched by the ‘SBI General Insurance’.
  • It was launched with an aim to provide best-in-class customer service in health insurance and to become as the top three general insurance companies for health in the next three years. 
  • The core objective behind this new step is to make health care available across the length and breadth of the country mainly in tier 3 & 4 cities at an affordable cost. 
  • SBI General Insurance has also partnered with Apollo 24/7 to offer its customers access to various services offered by Apollo 24/7.
  • The benefits and services of this partnership can be availed under the ‘SBI General Sanjeevani’ section on SBI General mobile app.

   Facts to know:

  • SBI General Insurance was established in 2009.
  • Headquarters of SBI General Insurance: Mumbai, Maharashtra.
  • CEO of SBI General Insurance: Mr.Prakash Chandra Kandpal
  • SBI General Insurance is a joint venture as SBI holds 70% of its ownership.
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