Mumbai, Apr 30 (UNI) ICICI Securities Limited has tied up with Religare Health Insurance to sell the latter’s products, a statement here said on Tuesday.
"This would be the third health insurance principal to get added on I-Sec’s platform and the first pure play health insurance company," the statement added.
“We are sure our 4.4 million customers would find this very useful when they are looking at purchasing a health insurance policy. The company would sell insurance on www.icicidirect.com and through its 200+ retail outlets across the country," said ICICI Securities Sr. VP – Products Advisory Group Hariharan M in a statement.
Religare Health Insurance MD & CEO Anuj Gulati in a statement said, “We foresee immense potential from this association with ICICI securities and look forward to being the preferred health insurer for their customers.”
Health insurance penetration in India is in low single digits even as the industry size is pegged at about Rs 50,000 crore per annum. However, owing to various factors like rising awareness and entry of specialized health insurers, the sector has been growing at a CAGR of Rs20% over the past 10 years.
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