Aditya Birla Health Insurance Corporation Limited is one of the parts of the Aditya Birla Capital Limited which has a joint venture between Aditya Birla Group and Momentum Metropolitan strategic Investment in which it occupy place in South Africa. Aditya Birla Health Insurance was incorporated in 2015 but Aditya Birla Capital and Momentum Metropolitan Strategic Investments Limited hold share around 51% and 49%. Where Aditya Birla Health Insurance active and start operating in October 2016 and engaged their business of health insurance.
This company present product include portfolio with unique offerings like chronic care and incentivized wellness. At the end of Q4 FY21 Aditya Birla Health Insurance recorded a GWP of rupees 1,301 crore and covered more than 13.4 million lives. Aditya Birla Health Insurance has national wide distribution more than 2800 in cities by their branches and with partnership offices. This company also has 9 bancassurance partners and more than 42,800 selling employees and their network of hospitals spread more than 8,670. This company has scaled and diversified digitally enabled distribution with 50% agency growth with more than 140 branch locations and availability of bancassurance more than 14,000 branches and more than 38 digital partners covering 4 million lives more than 50 contextual byte sized products.
Heritage:
It is originally setup in October 2007 under the companies Act 1956 and they received the certificate of registration from the Reserve Bank of India in May 2009 to commence the business as non- deposit taking NBFC. December 2014 was the day for company converted from a private limited company to a public limited company, and was renamed as ‘Aditya Birla Financial Services Limited’. Past one decade, it was incorporated the company has come a long way to become one of the largest financial services players in India. In 2017, Company becomes a list holding company of all the financial services businesses of the Aditya Birla Group. If it is mark with new phase in its journey and in the with its new unified brand identity, the company was rechristened as ‘Aditya Birla Capital Limited’ in June 2017. The overall work collection of their journey over the past 12 years from 2007-2019 like:
- 5 business line with 13 portfolio business line
- AUM1 has grown to rupees 3,000 billon
- Lending book has grown Rupees 601 billion
- Aggregate 2 revenues have grown to Rupees 115 billion
- Investment phase to aggregate2 earnings before tax of Rupees 12.9 billion
Parentage:
Aditya Birla Capital belongs to the Aditya Birla Group, it USD 44.3 billion Indian multinational in the league of fortune 500. It is anchored by an extraordinary force of more than 1, 20,000 employees belonging to 42 nationalities. Aditya Birla Group operates in 35 countries across the globe. About 50 percent of its revenues flow from its overseas operations.
- It has AUM of life & Health Insurance, private equity & quarterly average AUM of Asset Management business
- It represent summations of 100% of the Ind AS financials of subsidiaries before inter- company eliminations or minority interest
Vision and Values:
- Being Leader: Aditya Birla Health Insurance occupy majority and leadership all facets of businesses rather than being another participant in this race
- Role Model: Aditya Birla Health Insurance hardly believes in compromises. What they believe in best strive to be the best in class so that their customer get no reason for go somewhere else for same service. For that Aditya Birla Health assured your for their leadership
- Broad- based player: Aditya Birla understand their customer all needs so their services are also set according of them.
- Priority to be integrated player: Aditya Birla Health Insurance always approach for this competitive edge through sharing of best practices with deriving cross like business synergies & providing talent pool with across the world growth.