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SBI General Insurance launches new health insurance vertical

SBI General aims to be among the top three general insurance companies for health in next three years.Premium
SBI General aims to be among the top three general insurance companies for health in next three years.

  • The core objective behind this new step is to make health care available across the length and breadth of the country at an affordable cost. It is of utmost important to increase the penetration of healthcare in tier 3 & 4, which will be enabled through SBI’s distribution strength

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NEW DELHI: SBI General Insurance has launched a new health insurance vertical, through which the company plans to focus on new innovative health products, in-house claim settlement process, among others, to boost customer experience.

According to a press statement, 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, thereby offering affordable and comprehensive health insurance products.

Ashwini Kumar Tewari, managing director (International Banking, Technology and Subsidiaries), State Bank of India, said, “The industry has witnessed a significant rise in the demand for health insurance, especially in the wake of the pandemic…The core objective behind this new step is to make health care available across the length and breadth of the country at an affordable cost. It is of utmost important to increase the penetration of health care in tier 3 & 4, which will be enabled through SBI’s distribution strength. With all the enablers we are aiming for SBI General to be among the top three general insurance companies for health in next three years."

Speaking on the launch, PC Kandpal, MD & CEO, SBI General, said, “The launch of the new health insurance vertical will enable us to meet the rising demand of health insurance, and to provide best-in-class customer service. Through this vertical, we will manage all health-related claims in-house, thereby enhancing the customer experience and will be able to reach the market segments with a dedicated health sales agency…We will also expand our strategic partnerships to strengthen our network of providers, thereby benefiting customers across the country."

As per the company, SBI General Insurance has also partnered with Apollo 24/7 to offer its customers access to various services offered by Apollo 24/7. These include tele/video medical consultations from over 9000+ verified Apollo doctors anywhere, at any time. The collaboration is also expected to simplify customers' medical journey by providing digital health records through a digital vault, a tech-enabled concierge service for Apollo 24/7 Services, online consultations with nutritionists for diet planning and nutrition management 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, as per the company.

The press release added that SBI General has joined hands with Sevamob, an organisation working extensively to address health issues faced by women, children, and senior citizens in northern India, especially Uttar Pradesh.

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