Max Bupa Health Ins to infuse Rs550 crore in next five-years

Max Bupa Health Ins to infuse Rs550 crore in next five-years

Mumbai: Max Bupa Health Insurance, a new entrant in health insurance sector in the country, plans to infuse around Rs550 crore in the next five years, a top company official said.

“Our current paid-up capital is Rs151 crore and we plan to take it up to Rs700 crore over a period of five years," Max Bupa Health chief executive, Damien Marmion, told PTI.

The company has also chalked-out a plan to increase its presence in the country during the year.

“Currently, our headcount is 400 and we will take it up to 600 by the end-this year. We will also increase our agent strength to 3,000 from the present 500 during the fiscal," Marmion said.

The third stand-alone health insurance company is a joint venture between health-care major, Max, and British health insurer, Bupa.

The other two stand-alone health insurance companies in India are Star Health and Allied Insurance and Apollo Munich Health Insurance.

“For us, our Unique Selling Proposition (USP) will be our products which will focus more on family and our services," he said.

Instead of appointing a third-party administrator, the company would service its customers’ claims directly, he said.