Yes, I feel the health insurance is growing in Indian market. Even our own company's health insurance growth has been 50% in the current year which was not there earlier. This is one product where lot of awareness is created and hence "is bought instead of being sold". I feel this sector has a tremendous potential to grow. There is some initial reservation to grow in this sector because of the high loss ratio in the last 3 years but it only indicates the need for having a good control on claims management and also proper revision in the premium structure and policy conditions. As the growth is tremendous, the product should also be dynamic to consider the rapid changes happening in the health management in India.

Do you think IRDA's proposal for the stand-alone insurance company is a viable one?

The existing insurance companies have a share of around 8 to 10% of the total premium as health insurance and hence may not be able to focus their attention fully on the various aspects of the health insurance and related statistical analysis of such insurance. I feel the stand-alone health insurance company with an exclusive tie-up with selected hospitals coupled, with efficient claims management module, will be able to grow this market in a profitable way.

What kind of capital and FDI do you think will make the Company most effective one (IRDA report has suggested Rs 25 crore of capital; and 51% of FDI)?

I support the idea of having lesser capital for stand-alone health insurance companies as compared to other general insurance companies. Perhaps, IRDA is right in reducing to Rs 25 crore and suggesting 51% of FDI). 51% of FDI is suggested for more technical input from foreign partners with manager control.

Will your company be interested to set up a stand-alone health insurance company?

At present, we do not have any intention of having stand-alone health insurance company.