Infosys has roped in private insurer GoDigit as its new group health insurance provider, replacing state-run National Insurance Company (NIC), according to an internal mail, accessed by Moneycontrol.
This covers the company’s entire employee base of over 3.2 lakh people.
Infosys and GoDigit did not respond to queries at the time of publication. This story will be updated if and when a response is received.
GoDigit, backed by Canadian billionaire Prem Watsa’s Fairfax Group, has been expanding in group health insurance and employee benefit solutions. Winning a mandate by one of the largest IT players in the country is a major deal for the company in the competitive enterprise insurance segment.
The reasons for the shift from NIC were not immediately known, however, it appears that private players are gaining due to competitive pricing, faster claim processing, and tech-enabled services.
The Bengaluru-headquartered company’s employee benefit expenses rose by almost 4 percent to 67,466 crore in FY25.
Interestingly, Infosys partnered with Life Insurance Corporation of India (LIC) last year in September to accelerate its digital transformation. The deal focuses on omnichannel experiences and data-driven hyper-personalisation for LIC’s customers, agents, and employees.
A 2024 report by insurtech platform Plum, involving over 4,500 companies, revealed that there has also been a 15 percent increase in companies offering maternity benefits and a 110 percent surge in companies offering comprehensive healthcare.
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