Aditya Birla Health Insurance Company Limited
Aditya Birla Health Insurance Company Limited is a part of Aditya Birla Capital Limited, a leading financial services group in the country. Established in 2015 and operational since 2016, Aditya Birla Health Insurance is a joint venture between Aditya Birla Group and MMI Holdings of South Africa. They recognised the growing need for comprehensive health insurance solutions in India and set out to address it.
With a customer-centric approach, Aditya Birla Health Insurance focuses on delivering high-quality healthcare services. They offer a wide range of health insurance products that cater to the diverse needs of individuals, families, and corporates. Their product portfolio includes unique offerings like chronic care and incentivized wellness, providing tailored solutions to their customers.
In the financial year 2022-23, Aditya Birla Health Insurance has issued an impressive 46,67,642 policies. During the same period, they have received 8,26,157 claims.
Awards & Recognitions
It was named the ‘Health Insurer of the Year’ at the prestigious ET Now Business Leader of the Year Awards, highlighting its excellence in the health insurance industry.
Aditya Birla Health Insurance was acknowledged with the ‘Amiable Award’ in the Health Category at Pexa, New Delhi. This award recognised their brand as the most amiable, friendly, and approachable in the health sector.
The company's commitment to excellence was further recognised when it received the ‘Health Insurer of the Year, India’ award at the 2019 Insurance Asia News Awards for Excellence.
Aditya Birla Health Insurance also achieved success in marketing and communication campaigns. They won two gold awards at the E4M Health Marcom 2020 Awards for their campaigns, ‘JumpForHealth’ and ‘TakeActivCare’. These campaigns were recognized for their effectiveness and innovation. Furthermore, they received two awards at EMVIE 2019 for their ‘JumpForHealth201’" - Best Use of Influencer Marketing and Best Case Study Presentation.
It got an award for Health Insurance Products and Service Innovation at Pexa, New Delhi for their commitment to innovation.
In the realm of sales, Aditya Birla Health Insurance was honoured with the ’Sales Champion Award’ in the Health Category at The Economic Times Insurance 6th Annual Summit, highlighting their exceptional sales performance.
Claim Settlement Ratio
Claim Settlement Ratio (CSR) is a key factor in evaluating an insurance company's reliability in processing claims. This metric represents the proportion of claims settled by the company compared to the total number of claims received by them in a specific financial year. Aditya Birla Health Insurance Company has achieved an impressive claim settlement ratio of 92.2% for the fiscal year 2021-22.
By examining the CSR, you can measure an insurance company's ability to effectively handle and settle claims. Most importantly, it is important to assess the CSR over the years to ensure they have maintained a consistent track record.
The solvency ratio is a significant financial measure that helps evaluate the financial strength and stability of an insurance company. It indicates an insurance company's capacity to fulfil its claim obligations and honour its financial commitments. In simple terms, the solvency ratio reflects the company's ability to pay claims.
Insurance companies in India are required to maintain a minimum solvency ratio of 150% as per the regulations set by the Insurance Regulatory and Development Authority of India (IRDAI).
Aditya Birla Health Insurance Company has an impressive solvency ratio of 263% for the period ending on 31st March 2023. This indicates that the company is well-capitalised and has more than enough assets to cover its liabilities and meet its obligations.
Network hospitals are those hospitals that have an agreement with your insurance company to provide cashless treatments. These hospitals are listed by either the insurer or a third-party administrator (TPA) associated with the insurer, to facilitate smooth and convenient cashless claims. This means that if you seek treatment at a network hospital and your insurer agrees to the cashless settlement, you won't have to worry about arranging cash upfront for the medical expenses.
Your hospital bill is directly settled by the insurer or TPA, and you may not need to pay out of your own pocket during hospitalisation. However, it is important to note that you may still be responsible for expenses that are not covered by your insurance policy. These expenses could include consumables, administrative fees, registration fees, and other similar costs.
Aditya Birla Health Insurance Company has built a robust network of over 10,500+ hospitals, ensuring you receive quality medical care without any out-of-pocket expenses. And, you can find the network hospitals based on your location at https://www.adityabirlacapital.com/healthinsurance/locate-care/hospital-listing . This link helps you check how many hospitals in your area are part of the insurer’s network as well as whether your preferred hospital in your locality is listed with them.
You can reach out to Aditya Birla’s customer support team by calling the toll-free number 1800-270-7000. They will help you with any queries related to your insurance policies, provide information about their services, etc.
You can also contact Aditya Birla Health Insurance by sending an email to firstname.lastname@example.org for inquiries, support, or any other communication.
In case you have any queries, doubts or any requests, here are alternate contact options to reach out to Aditya Birla Health Insurance Company Limited -