The Business Bytes
TBB BUREAU
BHUBANESWAR, DEC 9, 2021
Customers in Odisha have responded enthusiastically to Navi’s 100% digital, paperless app-based health insurance launched last December. With wide coverage of 125 network hospitals spread across Odisha, ranging from Shanti Memorial Hospital in Cuttack to Gupta Nursing Home in Barla, the state has emerged among the important markets for Navi Insurance, contributing close to 5% of the total policies sold since May.
Bhubaneswar, Cuttack and Raurkela are the fastest-growing markets in Odisha for Navi Insurance. Nationally, Navi Insurance’s business has grown by 110% every month since May 2021.
Customers can buy Navi Health Insurance through a quick and completely paperless process, with the policy issued to them instantly on the app. Navi’s EMI feature allows customers to pay their insurance premiums monthly, making it more affordable for many more customers. With monthly premiums starting from as low as Rs 241/month, 95% of Navi’s customers choose to pay premiums monthly.
Navi offers health insurance cover ranging from Rs 2 lakh to Rs 1 crore for individuals and families. It offers cashless claims along with a dedicated Claims Relationship Manager to help the customers during the claim process. Most cashless claims are approved within 20 minutes. Navi Insurance also has an industry-leading Claim Settlement Ratio of 97%.
Some unique features of Navi’s health insurance plans include – free and unlimited online doctor consultations, no room rent cap for single occupancy rooms and automatic restoration of the sum insured which allows customers to register claims an unlimited number of times, each time up to their cover amount during their policy tenure. Navi also offers to double the sum insured in case of an accident, for customers under 40 years of age.
“The response from Odisha for Navi Health Insurance has been extremely heartening. Our objective is to radically simplify health insurance for individuals and families. We do this by actively leveraging technology and data as well as customer feedback to constantly implement new features and improve our offering to customers,” a Navi Health Insurance statement said.
