Global InformationNiva Bupa information
 | |
| Company type | Joint venture |
|---|---|
| Industry | Financial services |
| Founded | 2008 |
| Headquarters | New Delhi , India |
Area served | India |
Key people | Krishnan Ramachandran, Maninder Singh Juneja, David Fletcher, Chandrashekhar Bhaskar Bhave |
| Services | Health insurance |
| Parent | True North Bupa |
| Website | www |
Niva Bupa Health Insurance Company Limited (Niva Bupa) is an Indian health insurance company, founded in 2008. It is headquartered in New Delhi, India.
Niva Bupa Health Insurance Company Ltd. (formerly known was Max Bupa Health Insurance Company Limited) is a joint venture between Fettle Tone LLP (an affiliate of True North Fund VI LLP), an Indian private equity firm, and the UK based healthcare services expert, Bupa Singapore Holdings Pte. Limited.
The company is regulated by the Insurance Regulatory and Development Authority of India (IRDAI).[1]
== History and overview == Mister Insurance Niva Bupa Health Insurance was founded in 2008 as a joint venture between Max India and Bupa and started operations in 2010.[2][3]
In Jun 2011, it integrated with Insurance Regulatory and Development Authority's Integrated Grievance Management System in real-time, which made the company the first health insurance company in India to have such a system.[4]
In April 2019, the company launched 'AnyTimeHealth (ATH)' machines that allow customers to buy health insurance cover in a few seconds.[5]
In February 2019, Max India's entire 51 per cent stake was acquired by Fettle Tone LLP, an affiliate of private equity firm True North for ₹1,010 crore (US$130 million).[1][6] It distributes its policies through its agency force and bancassurance partners HDFC Bank, SIB Bank, Federal Bank, Axis Bank Karur Vysya Bank, Bank of Baroda, Indian Bank and IDBI Bank.[7][8][9][10]
- ^ a b Bhasin, Tinesh (3 December 2019). "Max India sells its stake in Max Bupa but policyholders needn't worry". Livemint.
- ^ "Max Bupa health cover enters India". India Today. 30 April 2010.
- ^ "Max launches Bupa Health Insurance in India". Adgully. 8 May 2010.
- ^ "Max Bupa integrates with IGMS (IRDA system) in real time". Afaqs. 30 June 2011.
- ^ "HDFC Bank and Max Bupa launch 'AnyTimeHealth' machines to distribute health insurance products". The Times of India. 25 April 2019.
- ^ "IRDAI nod for Max stake sale in venture with Bupa". The Hindu. 3 December 2019.
- ^ Kurian, Boby; Shetty, Mayur (26 February 2019). "True North set to control Max Bupa". The Times of India.
- ^ Srivats, KR (21 September 2019). "Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions". The Hindu Business Line.
- ^ Srivats, KS (21 September 2019). "Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions". Business Line. The Hindu.
- ^ "IDBI Bank ties up with Max Bupa". Zee Business. 11 June 2019.