Tata AIG eyes 5 pc retail health market share in AP, Telangana
29-Apr-2025 07:32 PM 6732
Hyderabad, Apr 29 (Reporter) TATA AIG General Insurance Company Limited, a leading general insurance provider in India, on Tuesday said it is targeting 5 percent retail health market share in Andhra Pradesh and Telangana in the near future against from 2.1 to 3.6 percent market share increased over the past two years. To driver further growth, we plan to add 15,000 more distribution partners in the next two-years against 14,500 distribution partners in the both telugu states of Andhra Pradesh and Telangana, said Pratik Gupta, Senior Executive Vice President and National Head of Agency on the sidelines of launching Medicare Select, a comprehensive product premium made affordable with modular pricing. The new product which built to serve a wide spectrum of customers from newborns to seniors, with no entry age limits and affordability at its core, is poised to accelerate out market share from 3.6 percent to 5 per cent, he said the product offers 7.5 percent professional discount for salaried customers and 10 percent young family discount for families below 40 years. Though the overall industry net agents recruitment has dropped by 9 percent, Tata AIG crossed agency base milestone of over one lakh in FY 25 pan india growing at 22 percent Y-o-Y, he informed and said our major claims office and backend office in Hyderabad where nearly 500 employees are working. The company witnessed over 3X growth in Telangana and Andhra Pradesh across its retail health portfolio in the past one year , extending protection to over 82,000 lives. With robust presence across 51 districts in united Andhra Pradesh and key branches in Hyderabad, Visakhapatnam, Vijayawada, Warangal, Karimnagar and Nellore, TATA AIG’s network of 1600 plus hospitals and 14,500 advisors enhance access and creates livelihood opportunities in semi-urban and rural areas, he said. About 86 percent of the claimed amount being settled in FY 24-25 pan India against the overall industry average of 85 percent, Gupta claimed. Rajagopal Rudraraju, Executive Vice President and National head ( Accident and Health claims), stated, “Our cashless utilization stood at 81 percent in Telangana and 68 percent in Andhra Pradesh in FY 24-25. We remain committed to enhancing healthcare access and easing financial burdens for customers across both urban and rural areas.” Over the past three years, cancer treatment has topped hospitalisation costs in Telangana and Andhra Pradesh, with a 25 percent increase in expenses and average treatment costs reaching ₹1.6 lakh. Coronary Artery Disease (CAD) treatment costs surged by 40 per ent, with average expenses also touching Rs 1.6 lakh. In 2025, Tata AIG paid a single highest health claim of Rs 1 crore in Hyderabad for a cardiovascular condition (CAD with STEMI). Chronic Kidney Disease (CKD) treatment costs rose by 38 percent, further underscoring the urgent need for accessible and affordable healthcare, he added...////...
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