Max Bupa today announced a strategic partnership with MobiKwik to promote affordable and convenient bite-sized group health insurance products for MobiKwik’s 107 Million customers across the country.
Bite-sized insurance offerings, which are essentially easy to buy, over the counter health insurance products, primarily targeted towards working professionals and millennials, are fast picking up pace in India and gaining huge interest from customers who are always on the go and are looking for convenient, low price and accessible health plans for their specific health needs. These young customers are looking for quick, simple and affordable health insurance propositions to take care of their specific health needs. They are interested in a fully digital buying journey along with simple claims procedure.
In keeping with this emerging trend, Max Bupa in association with Mobikwik will offer a slew of innovative offerings, including a Cancer cover at a nominal premium and a HospiCash product, in order to make health insurance purchase simple, instant and affordable for MobiKwik’s vast customer base.
Max Bupa’s HospiCash product offers a perfect solution for their evolving health needs. It provides for a pre-defined daily allowance basis the number of days of hospitalization irrespective of the actual expense incurred by the customer. This ensures that the out of pocket expenses are taken care of. Priced at an annual premium as low as Rs 135, HospiCash will offer Rs 500 per day hospital allowance for up to 30 days in a year to a customer. If admitted to an ICU, the amount receivable by the policyholder is twice the daily hospitalization cash benefit. In addition to this, customers would also get additional security against accidents wherein the family would receive Rs 1 Lakh in case of accidental death of the customer.
The HospiCash buying journey on the MobiKwik app is fully digital - just 2-clicks and even the claim process is simple, thus making the customer experience completely seamless.
Max Bupa will also offer a new proposition for Vector Borne Diseases like Dengue, Chikungunya, Malaria, Japanese Encephalitis, Lymphatic Filariasis, for those who are interested in further safeguarding themselves against the increasing incidences of such diseases. A lumpsum payout of Rs 10,000 against these conditions will help the customer to not only take care of hospitalization expenses but also loss of pay for the time they have been away from work. Such a proposition would soon be available on the MobiKwik platform at a nominal premium of Rs 49. Further, customers would also get an accidental death cover for Rs 1 Lakh as additional security.
Being a specialized Health Insurance player, Max Bupa understands the challenges that lifestyle diseases are posing to Indians. Cancer is one of the most dreaded diseases with over 1 million patients getting registered every year. The battle against Cancer has a severe financial drain which leads to families of patients to borrow from friends or family or even sell their assets. To provide a solution to these challenges, Max Bupa will offer a fixed benefit Cancer plan for Mobikwik’s customers which would provide the required protection to the customers and support them in such tough times, with a lumpsum payout to not just take care of their medical expenses but also support the financial needs of their family.