Newly-formed Aditya Birla Health Insurance Company is eyeing a market share of around 10 per cent over the next five years, an official said.
"As a new entrant in a cluttered market, we will be happy if we are able to garner eight to 10 per cent market share over the next four to five years," CEO of Aditya Birla Health Insurance Mayank Bathwal said.
The company, a JV with MMI Holdings of South Africa, started operations four months back. It has come up with a policy targeting customers with pre-existing diseases like diabetes, asthma, high cholesterol and hypertension.
He said the policy did not have any waiting period and all domiciliary expenses would also be reimbursed by taking a rider, including consultation fees.
The total health insurance market size in the country was Rs 27,000 crore, he said, adding that the retail sector was growing faster.
The company also launched a regular policy on health insurance which has waiting period and other normal features, Bathwal added.
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