India’s leading InsureTech Digit Insurance has recently launched a health insurance product ‘Arogya Sanjeevani, Go Digit’, a standard product that provides basic health insurance cover of between INR 100,000 and INR 500,000. This standard health insurance product called Arogya Sanjeevani set by the IRDAI from 1 April 2020 is an initiative to simplify health insurance by providing a basic plan for the people of India, the company said it in a statement.
Some of the features include, cover on hospitalization expenses, AYUSH, ambulance services, room rent, ICU/ICCU charges, low co-payment option of 5%, cumulative bonus i.e. 5% for each claim-free year, up to 50%. It also covers plastic surgery, dental treatments, cataract surgery, and new-age treatments like balloon sinuplasty, immunotherapy and stem cell therapy, amongst other treatments. It can be availed of by anyone between the age of 18 years and 65 years with lifetime renewability. Besides, the policy is available for both individuals and on a family floater basis.
Policyholders of Digit’s Aarogya Sanjeevani product can also enjoy extra benefits like an additional discount for people below the age of 40 and paperless, zero-touch claims. The zero-touch processed are especially significant during the current times of the COVID-19 pandemic. Digit Insurance has is enabled an online buying experience, and online claims process with zero-hardcopies required, making it convenient for millennials and families alike.
Jasleen Kohli, Chief Distribution Officer, Digit Insurance, said, “The introduction of Arogya Sanjeevani is a great initiative by IRDAI. It will increase the awareness, affordability, and penetration of health insurance in India, which is more than relevant in today’s times. This policy also aligns with our mission of offering ‘simple and relevant products to customers’. In addition to the standard benefits, we are encouraging people to insure themselves young, offering an additional discount to them. This, along with our service benefits to our customers with our online, instant, and zero-touch buying and claims process, should be effective for people.”
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The Bengaluru-headquartered company had launched its health insurance last year, which also covers pandemics like COVID-19. Customers of different age groups and insurance needs can find a relevant offering from Digit Insurance.
Digit has raised three rounds of funding amounting to $140 million from Canadian billionaire Prem Watsa’s Fairfax Financial Holdings and $84 million from three growth equity investors – A91 Partners, Faering Capital, and TVS Capital. This combined investment has brought Digit’s total funding to $224 million, one of the largest funding rounds in the Indian General Insurance space.
Source: IBS Intelligence
