Oriental Insurance to launch two new health products: Kaul

NAGPUR: The Oriental Insurance Company has plans to roll out two new health insurance products by the end of current fiscal year, a top company official has said.

The premier insurance company has achieved a premium income to the tune of Rs 4,854.68 crore, against Rs 4,077.90 crore in previous year, with a growth rate of 19 per cent, Chairman cum Managing Director of Oriental Insurance R K Kaul told reporters here on Tuesday.

During the current financial year, the company has set a target of Rs 5,470 crore at 16.38 per cent growth. It was continuing its focus on health insurance, rural insurance and retail sector, Kaul said.

The company has plans to open 148 extension counters in the country during the current fiscal year and also open micro -offices in the rural areas to penetrate deep into rural markets.

It was also working in close collaboration with the micro -finance institutions, NGOs and SHGs to promote rural insurance products in a big way, he said.

Kaul claimed that Oriental was first among the public sector insurers to have completed the online solution in all the offices and fully interactive web-portal to offer online products.

Oriental has 27 regional centre and 1,000 offices and has direct foreign operations in Nepal, Kuwait, Dubai and indirect operations in Kenya and Singapore and may soon launch operations in the Gulf region, Kaul added.