* The move is aimed at making flexible and personalised health insurance plans easily accessible to customers
Reliance General Insurance, one of India’s leading General Insurance companies announced the launch of one of its most flexible and popular products – “Reliance Health Gain Policy” - on Policybazaar’s online platform.
Launched in May, the Reliance Health Gain Policy has since witnessed high demand among customers because of its features and benefits. The one-of-a-kind policy gives its customers the freedom to choose and personalise their health policies as per their requirements. By making the product live on Policybazaar’s digital distribution channel, this partnership aims to ensure insurance accessibility for all.
Commenting on the development, Mr. Rakesh Jain, CEO, Reliance General Insurance, said, “The non-life insurance penetration in India is about 1% of GDP which is quite low in comparison to the global average of 4.1%. In India, the Fintech ecosystem with its large customer base offers a unique opportunity to tap the uninsured population and make insurance available to everyone in every corner of the country. We at Reliance General Insurance always strive to bring in innovative products that meet the customers’ requirements and serve them the best. We are optimistic that offering Reliance Health Gain Policy on Policybazaar will enable us to make our most flexible health insurance product accessible to a larger population and present them with the freedom of choice in health insurance. Through such a customisable product, we aim to encourage uninsured customers to protect themselves and their hard-earned savings with health insurance.”
Sarbvir Singh, CEO, Policybazaar, echoed the sentiment, saying, "We are proud to have worked closely with Reliance on the design of the Reliance Health Gain Policy. It is a unique and timely product in the health insurance market. This plan, which is highly customizable, will effectively cater to the needs of a small family of 2 as well as a larger one of 12. This association is in line with our brand's vision of Har Family Hogi Insured and also aligned with the regulator IRDAI’s vision of increasing the insurance penetration in India."
Reliance Health Gain Policy is one of the most flexible and customizable health insurance policies in the industry. Available in three different plans - Plus, Power and Prime – and an array of features to facilitate customisation of policy for each customer. The policy comes loaded with 38 industry-leading features like Double Cover that provides twice the amount of sum insured to be used during the same claim; Unlimited reinstatement to restore the base sum insured amount as many times as it gets exhausted during a policy year; Guaranteed Cumulative Bonus, that protects loss of cumulative bonus post claim; or the benefit to reduce Pre-Existing disease waiting period from 3 years to 2 or even 1 year. With many more such benefits, the product has been designed keeping in mind the modern health insurance consumer.