Care Health Insurance Explained

Care Health Insurance Limited
Type:Subsidiary
Industry:Insurance
Key People:Dr. Rashmi Saluja (Non-Executive Chairperson)
Anuj Gulati (MD & CEO)[1]
Hq Location City:Gurgaon, Haryana, India
Area Served:India
Num Employees:8,500+
Parent:Religare
Owners:Religare Enterprises (70%)
Kedaara Capital (18%)[2]

Care Health Insurance Limited (formerly Religare Health Insurance Company Limited)[3] [4] [5] [6] is an Indian health insurance company established in July 2012. It is part of the Religare Group and a direct subsidiary of Religare Enterprises.[7] Kedaara Capital is a co-promoter of the company.[8] Care Health Insurance is headquartered in Gurgaon, Haryana, and operates out of 158 offices across India with 8500+ employees.

History

Care Health Insurance (Formerly Religare Health Insurance) has been a subsidiary of Religare Enterprise.[9] It got its IRDAI registration on 26 April 2012 and has been among the five private sector insurers to underwrite policies exclusively in health, personal accident and travel insurance segments.[10]

In 2021, Religare Health Insurance had a claims settlement ratio of 95.2%[11] for the 2021 fiscal year.

Products

Care Health Insurance currently offers products in the retail segment for Health Insurance, Top-up Coverage, Personal Accident, Maternity, International Travel Insurance and Critical Illness along with Group Health Insurance and Group Personal Accident Insurance for Corporates, Micro Insurance Products for the Rural Market and a Comprehensive Set of Wellness Services.

Awards and recognition

Care Health Insurance was adjudged the "Best Health Insurance Company" at the ABP News-BFSI Awards 2017[12] and again at the Emerging Asia Insurance Awards, 2019 and "Best Claims Service Provider of the Year" at the Insurance India Summit & Awards 2018.[13] Care Health Insurance has also received the "Editor's Choice Award for Best Product Innovation" at Finnoviti in 2017 and was conferred the "Best Medical/Health Insurance Product Award" at the FICCI Healthcare Excellence Awards in 2015, 2018 and 2019.[14]

See also

Notes and References

  1. Web site: Religare Health Insurance CEO on the group's new projects and more. 2019-02-11. @Business Today.
  2. News: Mascarenhas . Rajesh . Religare plans ₹2,000-cr IPO for Care Health . 19 February 2023 . The Economic Times . 18 June 2021.
  3. Web site: Religare Enterprises renamed insurance arm as Care Health Insurance. www.business-standard.com. 2020-08-20.
  4. Web site: Religare Health Insurance rebrands as Care Health Insurance. www.brandequity.economictimes.indiatimes.com. 2020-09-01.
  5. Web site: Religare Health Insurance rebranded as Care Health Insurance. www.financialexpress.com. 2020-09-02.
  6. Web site: Religare Health Insurance rebrands as Care Health Insurance. www.mediasamosa.com. 2020-09-02.
  7. Web site: Religare Enterprises Limited. live. https://web.archive.org/web/20111215143634/http://religare.com/about-religare.aspx . 15 December 2011 .
  8. Web site: PE firm Kedaara Capital invests Rs567.3 crore in Religare Health Insurance. www.livemint.com/. 2020-06-03.
  9. Web site: Religare Enterprises Limited. live. https://web.archive.org/web/20130115170136/http://www.religare.com/Health-Insurance.aspx . 15 January 2013 .
  10. Web site: Malvinder and Shivinder Singh exit Religare Health Insurance Forbes India. Forbes India. en-US. 2017-08-10.
  11. Web site: Claim Settlement Ratio . 2020-01-17.
  12. Web site: ABP PRESENTS BFSI AWARD WINNERS 2015. @World BFSI Congress. 2021-01-11. 25 February 2020. https://web.archive.org/web/20200225165027/http://worldbfsicongress.org/abp-presents-bfsi-award-winners-2015.html. dead.
  13. Web site: 3rd Annual Insurance India Summit & Awards 2018. @Bimabazar. en. 2018-09-11.
  14. Web site: FICCI health Awards.

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