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William Dalrymple (historian)
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| Formerly | Max Bupa Health Insurance Company Limited |
|---|---|
| Company type | Public |
| Industry | Insurance |
| Founded | 2008 |
| Headquarters | , India |
Area served | India |
Key people | Krishnan Ramachandran (MD and CEO) C. B. Bhave (Chairman)[1][2] |
| Services | Health insurance |
| Parent | True North Bupa |
| Website | www |
Niva Bupa Health Insurance Company Limited (Niva Bupa) is an Indian health insurance company, founded in 2008 and headquartered in New Delhi. It is a joint venture between Indian private equity firm True North, and the UK based healthcare services company Bupa. The company is regulated by the Insurance Regulatory and Development Authority of India (IRDAI).[3]
History and overview
Niva Bupa Health Insurance was founded in 2008 as a joint venture between Max India and Bupa and started operations in 2010.[4][5]
In Jun 2011, it integrated with Insurance Regulatory and Development Authority's Integrated Grievance Management System in real-time, which made the company the first health insurance company in India to have such a system.[6]
In April 2019, the company launched 'AnyTimeHealth (ATH)' machines that allow customers to buy health insurance cover in a few seconds.[7]
In February 2019, Max India's entire 51 per cent stake was acquired by Fettle Tone LLP, an affiliate of private equity firm True North for ₹1,010 crore (US$120 million).[3][8] It distributes its policies through its agency force and bancassurance partners HDFC Bank, SBI Bank, Federal Bank, Axis Bank Karur Vysya Bank, Bank of Baroda, Indian Bank and IDBI Bank.[9][10][11][12]
Violations
Insurance Regulatory and Development Authority of India (IRDAI) has imposed penalty totaling Rs.20 lakh on Niva Bupa formerly known as Max Bupa Health Insurance Company Ltd. for four violations, one of which pertains to timelines for settling claims.[13]
See also
References
- ^ "Max Bupa appoints Krishnan Ramachandran as MD, CEO". Times of India. 5 May 2020.
- ^ "Max Bupa appoints Krishnan Ramachandran as MD & CEO - ET HealthWorld". ETHealthworld.com.
- ^ a b Bhasin, Tinesh (3 December 2019). "Max India sells its stake in Max Bupa but policyholders needn't worry". Livemint.
- ^ "Max Bupa health cover enters India". India Today. 30 April 2010.
- ^ "Max launches Bupa Health Insurance in India". Adgully. 8 May 2010.
- ^ "Max Bupa integrates with IGMS (IRDA system) in real time". Afaqs. 30 June 2011.
- ^ "HDFC Bank and Max Bupa launch 'AnyTimeHealth' machines to distribute health insurance products". The Times of India. 25 April 2019.
- ^ "IRDAI nod for Max stake sale in venture with Bupa". The Hindu. 3 December 2019.
- ^ Kurian, Boby; Shetty, Mayur (26 February 2019). "True North set to control Max Bupa". The Times of India.
- ^ Srivats, KR (21 September 2019). "Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions". The Hindu Business Line.
- ^ Srivats, KS (21 September 2019). "Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions". Business Line. The Hindu.
- ^ "IDBI Bank ties up with Max Bupa". Zee Business. 11 June 2019.
- ^ "Rs.20 lakh IRDA penalty on Max Bupa Health Insurance". The Hindu. 2 May 2016. ISSN 0971-751X. Retrieved 8 November 2024.
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