Future Generali India Insurance, a joint venture between Kishore Biyani-promoted Future Group and global insurer Generali from Italy on Oct 28, 2015. launched its health insurance product ‘Health Total’ with a maximum cover period of three years.
The company’s average sum insured in health insurance is Rs 3 lakh with the majority of policyholders being in the 25-45-year age bracket.
“With inflation in healthcare cost of 15-16% every year, there is a growing need and awareness for health insurance covers. With the launch of Health Total and other new products in the future coupled with strong distribution channels, we aim at creating a deeper penetration of health insurance in the country. Though the sector has been growing at 20% over the last few years, we see a potential for much larger growth. We expect the health business to contribute 20% of our total business by FY 2017,” chief executive officer of Future Generali India Insurance, KG Krishnamoorthy Rao said.
Future Generali India Insurance Company is a joint venture between Future Group and Italy based Generali group. With its new policy, the company is expecting 50% year-on-year growth in the retail health portfolio over the next three years.
“Realising the need of such a comprehensive health insurance product, we designed Health Total which will act as a single solution to all your healthcare needs,” said Shreeraj Deshpande, head, health insurance, Future Generali India Insurance.
