GURGAON, India, March 23, 2022 /PRNewswire/ -- Max Bupa Health Insurance Company Limited, one of India's leading standalone health insurance players in India has rebranded itself as Niva Bupa Health Insurance Company Limited. Max Bupa came into being in 2010 as the third standalone health insurance company to be launched in India. It was launched at a time when the health insurance industry in India was at an extremely nascent stage and the awareness and penetration of health insurance in India was abysmally low. Over the years, the Company has not only established itself as one of the most trusted names in the health insurance sector but also made significant contribution towards propelling the growth of the Indian health insurance industry. Over the years, Niva Bupa (formerly known as Max Bupa) has established itself as a trusted health insurance partner and an industry leading brand. Continuing with the legacy of Max Bupa, the rebranded, Niva Bupa will democratize health insurance category by bringing more thrust on customer touch points and introduce host of innovative products and digitally enabled services. The Company will aim to provide financial assurance as well as healthcare access to its customers by focusing on product innovation, customer centricity and digital capability.
Going forward, the Company will introduce differentiated insurance products across various customer segments, thereby catering to a larger clientele. The company has also been pressing ahead with best-in class digital services, effectively bringing customised health solutions to millions of its customers in India, instantly and without paperwork hassles.
The rebranding follows a change in the shareholding pattern of the Company. Max India, the erstwhile majority stakeholder in the Company, sold its share to True North in February 2019. Owing to this change in shareholding pattern, Max Bupa needed to create a new brand identity as part of the transition. The company decided to utilize this as an opportunity to redefine itself.
"Following the shareholder transition of Max Bupa from Max India to True North in 2019, a name change and rebranding were in order. Niva Bupa will firmly stand at the intersection of financial services and healthcare to fulfill the needs and aspirations of millions of people in India. The health insurance industry is poised for a monumental growth, and we will take our new brand identity to our customers with a renewed promise of protection and care. As Niva Bupa, we will look to further strengthen our core brand ethos of customer centricity. Under the new brand Niva Bupa, we will continue to expand our digital and network presence that will allow customers to avail our industry leading products and best-in-class services anytime, anywhere," said Krishnan Ramachandran, MD and CEO, Niva Bupa.
Nimish Agrawal, Senior Vice President and Head Marketing, Niva Bupa said that the rebranding will help position the company as one which offers a humanized experience to its customers, especially in terms of guidance, counseling, and support at the moment of truth.
"In our new avatar as Niva Bupa, we will bring a fresh perspective to the narrative around health insurance. We have consciously chosen to move away from the fear appeal which is generally used for this category and rather play the role of an enabler for our customers which would imply that health insurance is for freedom and not constraints. Our brand philosophy is to humanize and de jargonize the health insurance category."
Over the years, the company has empanelled over 8000 hospitals across the length and breadth of India and currently boasts of digital capabilities that facilitates cashless claim processing in less than 30 minutes. It caters to a large section of customers with its customised plans for small and big size families as well as plans for individuals and senior citizens. As part of its portfolio of products, the company provides healthcare solutions for specific needs like protection against critical illnesses, corona as well as accident coverage plans which provide for partial and total permanent disability cover.
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