Niva Bupa Explained

Niva Bupa Health Insurance Company
Type:Joint venture
Industry:Financial services
Founders:-->
Hq Location City:New Delhi
Hq Location Country:India
Area Served:India
Key People:Krishnan Ramachandran, Maninder Singh Juneja, David Fletcher, Chandrashekhar Bhaskar Bhave
Services:Health insurance
Parent:True North
Bupa

Niva Bupa Health Insurance Company Limited (Niva Bupa) is an Indian health insurance company, founded in 2008. It is headquartered in New Delhi, India.

Niva Bupa Health Insurance Company Ltd. (formerly known was Max Bupa Health Insurance Company Limited) is a joint venture between Fettle Tone LLP (an affiliate of True North Fund VI LLP), an Indian private equity firm, and the UK based healthcare services expert, Bupa Singapore Holdings Pte. Limited.

The company is regulated by the Insurance Regulatory and Development Authority of India (IRDAI).[1]

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.[2] [3]

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.[4]

In April 2019, the company launched 'AnyTimeHealth (ATH)' machines that allow customers to buy health insurance cover in a few seconds.[5]

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] [6] It distributes its policies through its agency force and bancassurance partners HDFC Bank, SIB Bank, Federal Bank, Axis Bank Karur Vysya Bank, Bank of Baroda, Indian Bank and IDBI Bank.[7] [8] [9] [10]

Key people

In May 2020, Krishnan Ramachandran was appointed as the MD and CEO of the company and C. B. Bhave was appointed as the chairman of the board.[11] [12]

Awards and recognition

See also

Notes and References

  1. News: Bhasin . Tinesh . Max India sells its stake in Max Bupa but policyholders needn't worry . . 3 December 2019.
  2. News: Max Bupa health cover enters India . . 30 April 2010.
  3. News: Max launches Bupa Health Insurance in India . Adgully . 8 May 2010.
  4. News: Max Bupa integrates with IGMS (IRDA system) in real time . Afaqs . 30 Jun 2011.
  5. News: HDFC Bank and Max Bupa launch 'AnyTimeHealth' machines to distribute health insurance products . . 25 April 2019.
  6. News: IRDAI nod for Max stake sale in venture with Bupa . . 3 December 2019.
  7. News: Kurian . Boby . Shetty . Mayur . True North set to control Max Bupa . . 26 February 2019.
  8. News: Srivats . KR . Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions . . 21 September 2019.
  9. News: Srivats . KS . Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions . . . 21 September 2019.
  10. News: IDBI Bank ties up with Max Bupa . . 11 June 2019.
  11. News: Max Bupa appoints Krishnan Ramachandran as MD, CEO . Times of India . 5 May 2020.
  12. Web site: Max Bupa appoints Krishnan Ramachandran as MD & CEO - ET HealthWorld . ETHealthworld.com . en.
  13. News: Max Bupa wins 'The Economic Times Best Brands 2019' award . . 2 April 2019.
  14. News: Max Bupa GoActive Health Insurance Plan recognized as product of the Year . . 24 April 2018.
  15. News: Golden Peacock Awards . 4 April 2020 . "Goldenpeacockaward.com".
  16. News: Max Bupa wins IT Management Best Practices Award . CafeMutual . 29 April 2016.
  17. News: Brand Boss: Shefali Chhachhi, Director - Marketing, Max Bupa Health Insurance . . 3 November 2011.

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