New India Assurance CMD Girija Subramanian praises Kerala’s initiative, highlights potential for nationwide adoption
Kerala’s newly launched NRI insurance scheme is a first-of-its-kind initiative that could become a model for other states, said Girija Subramanian, CMD of New India Assurance, the official insurance provider for the project introduced by NORKA, reported newindianexpress.com.
The scheme offers NRIs medical coverage in India and worldwide accident cover, with plans to expand to overseas health coverage in the future
Speaking to TNIE, Subramanian said the company, India’s largest nationalised general insurer, is well-prepared to cater to the health insurance needs of Kerala’s Gulf diaspora as well as expatriates worldwide. “We have the largest health insurance portfolio in terms of volume and tie-ups with most hospitals in India. Insurance coverage like this for the NRI diaspora is not an impossible task,” she noted.
Currently, NRIs must return to India to avail treatment, though their families residing in Kerala can also benefit from the plan. Importantly, the scheme’s personal accident cover has a worldwide reach. “In the case of unfortunate events like death, it is covered globally. Looking ahead, we may also consider extending medical insurance cover abroad,” Subramanian added.
She emphasised that Kerala’s pioneering move could pave the way for similar models across the country. On the broader industry front, she pointed to the removal of GST on life and health insurance as a major growth driver. “For individual health policies, this reform means an 18% cut in premiums, which is a big relief for middle and lower-income groups. We expect at least 20% growth in policy uptake this financial year,” she said.
