Aditya Birla Health Insurance eyes retail growth
New Delhi: Aditya Birla Health Insurance (ABHI), a part of Aditya Birla Capital, is focussing on the retail sector to drive growth.
During 2016-17 the group sales constituted 80 percent premium income and retail the balance 20 percent.
"We are eyeing the retail sector for growth. In the next five to six years, the target to garner 75 percent of the business from the retail avenue", CEO of ABHI Mayank Bathwal said.
In the last financial year, the company earned a premium income of Rs 150 crore, out of which group or corporate sales contributed 80 percent and retail the rest 20 percent.
In the first half of the current fiscal, the company earned a premium income of Rs 96 crore, wherein retail contributed eight percent in the first quarter and increased 32 percent in the second quarter.
Bathwal said that the company commanded a sizable customer base in the MSME sector which was a part of corporate or group sales.
The company is also increasing its distribution channels, he said.