Reliance Capital’s standalone health insurance company is expected to be launched early next year, said Anmol Ambani, Executive Director.
“Traditionally, heath insurance was part of our general insurance set-up. But to create retail focus we are setting up a standalone health insurance company. We have already received Round 1 approval from the IRDAI (Insurance Regulatory and Development Authority of India),” said Anmol in his maiden speech at Reliance Capital’s 31st AGM.
He alluded to three factors – changing demographics (a younger India with higher income, higher assets, and more financially aware), rising cost of healthcare, and an increase in lifestyle-related ailments, which indicate significant growth potential in retail health insurance.
The health insurance company will use technology to connect with customers and distributors to leapfrog competition, he added.
