TATA AIG General Insurance has unveiled a new health insurance product, MediCare Select, as part of its ongoing expansion strategy in India's retail health segment.
The launch comes amid broader efforts by the insurer to strengthen its presence in non-metropolitan regions and diversify its health portfolio.
The company aims to increase its hospital network from the current 11,500 to over 14,000 by the end of fiscal year 2027.
During the same period, TATA AIG expects Tier 2 and Tier 3 cities to account for 35% of its health business, up from 26% today.
The initiative reflects a shift in focus toward untapped markets and population segments with lower insurance penetration.
Mr Neel Chheda, Chief Underwriting and Data Science Officer at TATA AIG, noted the product was designed to respond to evolving consumer demands.
“MediCare Select brings together value, versatility, and access – offering meaningful protection that aligns with the changing healthcare needs of today’s consumers. As medical costs rise and health conditions evolve, this product enables individuals and families to stay covered without compromise,” he said.
MediCare Select offers several optional features, including:
- Unlimited reinstatement of the insured sum within the policy term;
- Coverage for one high-cost claim without a sum insured cap; and
- Outpatient treatment coverage.
Additional options include maternity-related benefits, daily hospital cash support, and premium discounts for salaried individuals and families with younger members.
“Over the past three years, we’ve seen growing adoption of our retail health offerings, and this launch will help us extend that reach to more geographies and segments, ensuring broader access to quality healthcare,” Mr Chheda said, reported Insurance Business.