One of India’s foremost private general insurance players, Future Generali India Insurance Company announced on June 01, 2023, the launch of its new health insurance product – D.I.Y HEALTH – a unique product designed to offer unmatched flexibility and freedom to choose the coverage as per the customer's needs. The product is amongst the most comprehensive products celebrating the power of choice - offering a base plan with 17 base features, complemented by a wide array of 20 modular features.
The essential features of the D.I.Y. plan include:
- Cumulative Bonus Booster- The sum insured can increase to 600%
- Accident and Critical illness booster
- Non-medical and consumable expenses
- Personal accident Death Cover
- Comprehensive OPD cover for Sum insured of ₹5 lakh and above
- Screening and vaccination
- Coverage for up to 15 family members
- Optional covers include maternity, pre-post-natal, ambulance (air/ road), critical illness booster, convalescence benefit, accidental death cover, etc.
Commenting on the launch, Anup Rau, Managing Director & CEO, Future Generali India Insurance Company said, “Today, we embark on a transformative journey as we unveil our revolutionary D.I.Y HEALTH product, designed to give the power of choice to our customers. It empowers individuals to design their coverage, putting control, convenience, and customization at their fingertips. Welcome to a future where insurance adapts to your needs.”
“D.I.Y HEALTH is the most comprehensive modular health insurance product that enables customers to not only choose the most relevant features as per their life needs but also enables them to further tweak or modify the policies annually, ensuring their health insurance remains as unique and special as they are,” he added.
The product is in line with the insights of a recent FGII survey conducted by Unomer, that most health insurance customers and intenders in India consider customization as a critical feature and don’t mind paying an additional premium for the same.
The survey covered 1500+ respondents – health insurance policy owners and intenders aged 25-45 years, consisting of self-employed and salaried professionals across 14 Indian cities (Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore, Pune, Ahmedabad, Lucknow, Coimbatore Jaipur, Vizag, Nagpur & Kota).
Also, the product is an addition to products designed to ring in innovative customer propositions to the forefront - including FG Dog Health cover, FG Health Absolute as well as opening up the “family” definition of its health offerings to include members of the LGBTQIA+ community, in an industry – first initiative.
The insurance company also plans to capitalize upon its online distribution channels and distributors to create awareness and adoption of the product. The company expects to unveil a multi-platform advertising and marketing campaign on the product soon.