NewsVoir
Hyderabad (Telangana) [India], August 22: SBI General Insurance, one of India's leading and fastest growing private general insurance companies, has announced the launch of 'First-of-its-kind' Health Insurance Branches across Andhra Pradesh and Telangana, with plans to extend nationwide. This strategic expansion is part of the Company's broader mission to strengthen its footprint in underserved markets, ensuring greater accessibility to health insurance solutions for millions of individuals and households.
A large section of our population is uninsured and this problem is more severe in smaller towns and remote areas. SBI General Insurance has taken this initiative to launch 30 specialized Health Insurance Branches which will offer health protection via a comprehensive bouquet of products, completely digital journey and backed by the widest network of more than 2100 hospitals in the states and rapid cashless response of average half an hour to the people of Andhra Pradesh and Telangana.
The Health Insurance branches are strategically located across key areas in Telangana, including Bhuvanagiri, Jagityal, Kamareddy, Karimnagar, Khammam, Kothagudam, Mahabubnagar, Mancherial, Miryalaguda, Nirmal, Sangareddy, Siddipet, Suryapet, Wanaparthy and Zaheerabad. In Andhra Pradesh, they are present in Anakapalli, Anantapur, Bheemavaram, Eluru, Jangareddigudem, Kadapa, Kakinada, Nellore, Ongole, Pallakollu, Rajam, Srikakulam, Tadepalligudem, Tenali and Vizianagarm.
These branches will offer a range of specially curated health insurance products such as Arogya Supreme Policy, Super Health Insurance, SBIG Health Super Top-Up, Arogya Sanjeevani and Personal Accident Insurance. With these tailored products, SBI General Insurance seeks to address the unique healthcare needs of local communities, delivering affordable coverage and enhancing financial protection for a broader and more diverse population.
The launch event was held in SBI General Insurance Hyderabad branch office in the presence of Shri. Challa Sreenivasulu Setty, Chairman of SBI Group, Shri. Naveen Chandra Jha, MD & CEO of SBI General Insurance, Shri Rajiv Kumar, DMD, Internal Audit Department (SBI) , Shri S Radhakrishnan CGM Hyderabad Circle (SBI), Shri Rajesh Kumar Patel CGM Amravati Circle (SBI) and Shri. Mohd Arif Khan, Deputy CEO, SBI General Insurance along with senior leadership and other key dignitaries.
Speaking on the occasion, Shri. CS Setty, Chairman, SBI Group said "Leveraging SBI's expansive network, we are committed to empowering citizens with greater access and security through financial services. We believe that our efforts will strengthen our connections with customers and contribute towards IRDAI's vision of 'Insurance for all by 2047'. This milestone marks a significant step forward in our mission to provide comprehensive, reliable & accessible health insurance to every Indian."
Shri. Naveen Chandra Jha, MD and CEO at SBI General Insurance added, "At SBI General Insurance, our goal is to make insurance accessible across India, and this expansion is a key step in that direction. With the addition of these 30 branches, now SBI General has one of the largest branch network in the states of Andhra Pradesh & Telangana covering 40 districts. Every such branch reflects our commitment to bring our services closer to our customers, understanding their needs and delivering innovative solutions"
This initiative is part of SBI General Insurance's overarching strategy to enhance insurance penetration in semi-urban and rural geographies, where access to insurance coverage has been limited. By focusing on health insurance, these offices will offer localized service delivery, ensuring that the offerings are not only accessible but also relevant and responsive to the unique challenges of each region.
As part of its commitment to building a more inclusive and customer-centric ecosystem, SBI General Insurance aims to significantly enhance the awareness and adoption of health insurance in these underserved regions, ensuring that families, businesses, and individuals are financially protected in times of need.
SBI General Insurance, one of the fastest-growing private general insurance firms, backed by the robust support of SBI upholds a legacy of trust and security. We position ourselves as India's most trusted general insurer amidst a dynamic landscape. Since our establishment in 2009, our expansion has been substantial, growing from 17 branches in 2011 to a nationwide presence of over 145 branches. In FY 2024-25, SBI General Insurance reported a Gross Written Premium (GWP) of INR 14,140 crores, recording a YOY growth of 11.1%.
The company received numerous prestigious accolades, showcasing its excellence across various domains. Key honors include being named the winner in the Large General Insurance category at the Mint BFSI Summit & Awards, the 3rd InsureNext Awards 2024 for Best Claims Settlement, and India's Best General Insurer of the Year at the 7th Insurance Conclave Awards. At the India Insurance Summit & Awards 2024, the company secured titles for General Insurance Company of the Year and Leading Implementer of Analytics Technology in Insurance. Additionally, it was honored as the Best BFSI Brand at the ET NOW Best BFSI Brands Conclave 2024 and included in BW BusinessWorld's India's Most Respected Companies. Certified as a Great Place to Work in 2024, the company also excelled at the ETBFSI Exceller Awards 2024 with recognition for Best Claims Management in Insurance and Best CSR Campaign of the Year, further highlighting its commitment to social responsibility and innovation.
With a team of over 9,000+ employees and our multi-distribution model covering Bancassurance, Agency, Broking, Retail Direct Channels, and Digital collaborations, we are committed to providing both Suraksha and Bharosa to all our consumers. Leveraging a vast network that includes over 22000+ SBI branches, plus agents, financial alliances, OEMs, and digital partners, we extend our services to even the most remote areas of India. Our offerings cater to Retail, Corporate, SME and Rural segments, and our diverse product portfolio ensures accessibility through both digital and physical channels.
For more details: www.sbigeneral.in.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)