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One of India’s foremost personal general insurance gamers, Future Generali India Insurance Company introduced on June 01, 2023, the launch of its new medical insurance product – D.I.Y HEALTH – a novel product designed to supply unmatched flexibility and freedom to decide on the protection as per the shopper’s wants. The product is amongst essentially the most complete merchandise celebrating the ability of alternative – providing a base plan with 17 base options, complemented by a wide selection of 20 modular options.
The important options of the D.I.Y. plan embody:
- Cumulative Bonus Booster- The sum insured can enhance to 600%
- Accident and Critical sickness booster
- Non-medical and consumable bills
- Personal accident Death Cover
- Comprehensive OPD cowl for Sum insured of ₹5 lakh and above
- Screening and vaccination
- Coverage for as much as 15 members of the family
- Optional covers embody maternity, pre-post-natal, ambulance (air/ street), vital sickness booster, convalescence profit, unintentional demise cowl, and so on.
Commenting on the launch, Anup Rau, Managing Director & CEO, Future Generali India Insurance Company stated, “Today, we embark on a transformative journey as we unveil our revolutionary D.I.Y HEALTH product, designed to give the power of choice to our customers. It empowers individuals to design their coverage, putting control, convenience, and customization at their fingertips. Welcome to a future where insurance adapts to your needs.”
“D.I.Y HEALTH is the most comprehensive modular health insurance product that enables customers to not only choose the most relevant features as per their life needs but also enables them to further tweak or modify the policies annually, ensuring their health insurance remains as unique and special as they are,” he added.
The product is in step with the insights of a latest FGII survey performed by Unomer, that almost all medical insurance clients and intenders in India think about customization as a vital function and don’t thoughts paying an extra premium for a similar.
The survey coated 1500+ respondents – health insurance policy house owners and intenders aged 25-45 years, consisting of self-employed and salaried professionals throughout 14 Indian cities (Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore, Pune, Ahmedabad, Lucknow, Coimbatore Jaipur, Vizag, Nagpur & Kota).
Also, the product is an addition to merchandise designed to ring in progressive buyer propositions to the forefront – together with FG Dog Health cowl, FG Health Absolute in addition to opening up the “family” definition of its well being choices to incorporate members of the LGBTQIA+ group, in an trade – first initiative.
| Key Findings of FGII #MYCHOICE Survey | ||
|
Awareness is a Choice |
Choice is sweet |
Choice is a function |
| 94% of the respondents conduct their very own analysis earlier than shopping for or renewing their medical insurance coverage |
94% of respondents would like customizing their medical insurance insurance policies, if doable |
8 in 10 customers on the lookout for customization of medical insurance are prepared to pay an extra premium |
| 2/third of respondents referred to on-line portals for evaluating options, whereas 1 in 2 resorted to recommendation from household, mates, and friends earlier than choosing the supposed supplier and plan. | 8 in 10 looking for customization cited the necessity to embody related options as per their wants/ life stage | Customers don’t thoughts spending an extra quantity and even their time on exercising the ability of alternative |
| Only 1 in 4 had been capable of entry insurance coverage brokers and intermediaries for buy or renewal | 1 in 3 respondents looking for customization cited not utilizing a lot of the options provided of their present coverage | The demand for an uncluttered, custom-made, handy coverage expertise is growing, particularly amongst these looking for renewals |
The insurance coverage firm additionally plans to capitalize upon its on-line distribution channels and distributors to create consciousness and adoption of the product. The firm expects to unveil a multi-platform promoting and advertising and marketing marketing campaign on the product quickly.
These are a few of the methods to scale back medical insurance premium.
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