Max Bupa plans to offer three new products in FY12

Private insurance company Max Bupa Health Insurance, a joint venture between Max India and global health care provider Bupa, today said it is planning to introduce three new products.

"We have completed one year of operations in the country and are planning to add three new products and refresh three existing ones by fine tuning them with some additional benefits, Max Bupa Health Insurance Chief Executive Damien Marmion told reporters here.
Max Bupa Health Insurance presently has four product offerings, which is a mix of both individual and group insurance, including its flagship ''Heartbeat''.
The company which has 40,000 individual policy holders is looking at massive growth this fiscal, Marmion said.
The total premium collected by the insurer from March 31, 2010 till December 31, 2010 stood at Rs 15 crore, which is expected to surge this year, he said.
With a initial capital infusion of about Rs 240 crore, Marmion said, it can be taken up to Rs 700 crore over the next five years.
"Max Bupa currently covers 740 hospitals for cashless options and the number is growing and we aim to cover about 1,000 hospitals across the country by year-end," he said.
The insurance company is also planning to open two new branches taking the total number to 11 this year.
When asked about his views on portability issue, Marmion said, "Its very complex and there is a lot to understand about it. We need to understand how this will work from the consumer point of view before filing any recommendations."