The Bupa-Max syndrome
Analjit Singh, Chairman, Max India Ltd.
Ever since the Indian insurance sector got privatised in 1999, India has been the favourite destination of international insurance players vying for a share of the Indian market in various categories like general insurance, life insurance, et al. Health insurance is one such category, which has been attracting foreign companies lately. After Munich Re (which tied up with Appollo Healthcare) and Oman Insurance Company (which has a JV with a host of insurance veterans), the latest to enter the Indian market is UK-based private healthcare company, Bupa which has inked a JV with Max India Ltd. The health insurance industry has seen a growth of 30% in the past half decade. A 25% growth is expected in the next half decade. Max Bupa Health Insurance plans to drive strong business growth through key service differentiators like providing direct servicing without third-party administrators thereby being cost-effective. Says Analjit Singh, Chairman, Max India, “Our entry into health insurance is a logical extension of our focus on the businesses of life. Through this partnership with Bupa which has international expertise in creating and delivering differentiated health insurance solutions, we are confident we will raise the bar for health insurance in India. Our customers will benefit due to our experience and understanding of the Life Insurance and Healthcare sector.” We’re watching their progress...

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Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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