Niva Bupa eyes to be amongst top two players in retail health insurance space by 3 years

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Nimish Agrawal, Director – Digital Enterprise Unit & Chief Advertising and marketing Officer, Niva Bupa Health Insurance

Niva Bupa Health Insurance is eyeing to be amongst the top two players in phrases of market share in the nation’s retail health insurance space by the subsequent three years.

Niva Bupa, one of many main standalone health insurance (SAHI) corporations in India, is taking a look at rising sooner than the market by 5-6 per cent. It has doubled down on its digital direct to client enterprise and desires to penetrate additional into the tier 2 to tier 4 cities by way of each company and bancassurance channels.

Market share

“We plan to develop sooner than the market, which implies we are going to develop market share whereas any individual will lose market share. It’s a zero-sum recreation. We undoubtedly need to be amongst the top two players in the nation’s retail health space by the subsequent three years,” Nimish Agrawal, Director – Digital Enterprise Unit & Chief Advertising and marketing Officer, Niva Bupa Health Insurance, informed businessline.

Notably, standalone health insurance corporations are rising as key players in the nation’s health insurance panorama as they dominate the retail health insurance section.

“We’re quantity three in the SAHI space in retail health insurance. Star Health and Allied Insurance and Care Health Insurance are forward of us. We and Care are very shut to one another. Our market share in retail space stood at 10.1 per cent final fiscal,” Agrawal mentioned.

Presently, retail enterprise contributes round 70 per cent of the health insurer’s portfolio, whereas group contributes 30 per cent. Within the final monetary yr, the insurer’s total gross written premium (GWP) progress was 27 per cent, whereas retail health progress stood at 35 per cent.

Common ticket measurement in the retail health section stood at round ₹31,000, which grew over 10 per cent year-on-year. “It’s a mixture of two elements — persons are shopping for a bigger sum-assured coverage and costs over a time period have additionally elevated,” Agrawal mentioned.

Omnichannel participant

He mentioned the corporate is including new branches in tier 2 and tier 3 cities, and strengthening its bancassurance partnership as banks have gotten penetration in tier 2 to tier 4 cities. “We’re an omnichannel participant and have one of the balanced distribution constructions. Our intent is {that a} mixture of four-five channels offers us the related velocity in a market,” Agrawal added.

Niva Bupa has unveiled a client insights report on Younger India’s outlook in the direction of health insurance which reveals that children in Kolkata are amongst probably the most financially and medically ready in the nation.

The report is predicated on a survey of greater than 2,400 respondents throughout over 35 city and rural centres spanning tier 1, tier 2, tier 3 cities and villages.

The findings reveal that 51 per cent of younger Indians take into account health insurance amongst their top three monetary priorities, but solely 14 per cent personal a coverage. Almost 76 per cent younger Indians stay financially or medically uncovered to unexpected health occasions. And, solely 24 per cent are adequately ready to deal with a medical emergency.

Revealed on Might 26, 2026