TATA AIG targets growth in health insurance with launch of new riders

TATA AIG General Insurance Company has launched five new riders aimed at enhancing the flexibility and coverage of its retail health insurance products. These riders offer more than 60 benefits and are designed to address evolving healthcare needs, reflecting the company’s commitment to growth in the health insurance sector.

The five riders—Mental Wellbeing, EmpowerHer, OPD Care, CanCare, and Flexi Shield—cater to a wide range of healthcare needs. Mental Wellbeing introduces preventive mental health screenings and rehabilitation services. EmpowerHer focuses on female health issues, such as infertility and gynaecological concerns. CanCare provides enhanced cancer protection, while OPD Care and Flexi Shield help cover outpatient expenses and protect against rising medical costs.

TATA AIG is also aiming to expand its health insurance operations over the next two years. It plans to increase its agent base from 92,000 to over 150,000. The company’s health insurance segment currently contributes 21% to its overall Gross Written Premium (GWP), and with the introduction of the new riders and an expanded distribution network, TATA AIG expects retail health insurance to grow at a compound annual growth rate of 30% over the next three years.

In addition to product expansion, TATA AIG has made significant improvements to its claims process. The company’s cashless claims utilisation rose from 67.7% in FY 2022-23 to 76.95% in FY 2024-25. Further, 96% of cashless claims were processed within four hours, and 85% of reimbursement claims were settled within five days. TATA AIG aims to reach 100% cashless claims in the near future.

The company has also expanded its healthcare network, with over 11,700 hospitals now part of its network—a 64% increase in the past 18 months. Additionally, TATA AIG’s OPD network includes more than 5,000 listed doctors and over 3,000 diagnostics providers, supported by a teleconsultation service in over 10 languages.

Pratik Gupta, Senior Executive Vice President & Head – Agency at TATA AIG, stated, “The launch of these new riders is a critical step in our strategy to accelerate growth in the health insurance segment. We are focused on driving expansion across India, particularly in tier 2 and 3 cities. By scaling up our network of branches, agents, and hospital partners, we aim to make quality healthcare more accessible to millions.”

Key rider highlights include EmpowerHer’s focus on female-specific health issues, Mental Wellbeing’s industry-first mental health coverages, CanCare’s expanded cancer protection, OPD Care’s outpatient expenses coverage, and Flexi Shield’s protection against medical inflation.

With operations in over 220 locations and an expanding hospital network, TATA AIG is poised to drive further innovation and growth in the health insurance market.