Bharti AXA General Insurance Co. Ltd. is a joint
venture between Bharti, one of India’s leading business
groups with interests in Telecom, Agri Business and Retail; and AXA, world leader in Financial
Protection and Wealth Management. Bharti Group holds 74% of equity
and AXA holds 26% of the equity.
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| Founded | 2008 |
|---|---|
| Headquarters |  Bangalore, India |
| Key people | Dr.Amarnath Ananthanarayanan (CEO) |
| Industry | General Insurance |
| Products | Car Insurance Two Wheeler Insurance Health Insurance Home Insurance Shop Insurance Commercial Insurance Rural Insurance |
| Website | Bharti AXA General Insurance |
Contents |
The Property & Casualty market in India has been liberalized in 2000 and is 5th largest market in Asia with premiums of €4.2bn. It has been growing at an average growth rate of 14% over last five years and Swiss Re has projected that it will continue to grow at 13% pa until 2015.
Key drivers for growth are:
• Strong GDP growth expected to continue coupled with compelling
demographics - second most populous nation in the world with a
young population (median age of 24.9 years).
• Low non-life insurance penetration of 0.6%, below Asian average
of 1.6%.
• Growing middle class population (~250m) with increasing
affluence.
• Lack of social security provided by government will drive needs
for financial protection.
Keeping these in mind and having a long term commitment in India, both Bharti and AXA formed a joint venture with an intent to serve the Indian population. The joint venture was started in the year 2007 and they finally got approval from IRDA in the month of July, 2008.
Bharti AXA General Insurance has made available an array of health insurance policies that can be relied on for protection in various kinds of circumstances. Following are the different health insurance products offered by Bharti AXA General Insurance:
| Product | Product Description |
|---|---|
| Smart Health Insurance Policy | It's a well established fact that stress-related ailments have an earlier onset these days than in any era before. In today’s age, modern medicine helps in combating critical illnesses, to a very large extent. The way to be prepared for contingencies is to be equipped to deal with hospitalization costs, should the need arise. This is possible with Bharti AXA Smart Health Insurance Policy. Bharti AXA’s Smart Health Insurance Policy covers hospitalization expenses, domiciliary hospitalization, day care treatment, pre and post-hospitalisation expenses, pre-existing diseases critical illness like cancer, coronary heart/artery disease, bypass surgery, etc including symptoms or conditions existing when the policy cover comes into force for the first time, after four continuous renewals with Bharti AXA. |
| Smart Health Essential Insurance Policy | The road to recovery is always shorter when the mind is at ease. Often, the worry of daily expenses in a hospital is the bitterest medicine to take. When medical emergencies and extended stays at hospitals are unavoidable, allow us to help lighten the worries of the wallet? think-smart! |
| Smart Health Critical Illness Insurance Policy | The most cherished moments in life are the ones spent with your family and those dear to you. An uncertain future should not stand in the way of you living life to the fullest. To certify a secure future for yourself and your loved ones, think smart! Bharti AXA's SmartHealth Critical Illness Insurance Policy is simple and yet comprehensive. This policy covers all expenses incurred towards critical illnesses such as cancer, coronary heart/ artery disease, coronary artery bypass surgery, heart valve surgery, surgery to aorta, strokes, kidney failure, aplastic anaemia, end-stage lung disease, end-stage liver failure, coma, major burns, organ / bone marrow transplantation, multiple sclerosis, fulminant hepatitis, motor neurone disease, primary pulmonary hypertension , terminal illness and bacterial meningitis. One can either opt for a reimbursement/payment of hospitalisation expenses for treatment of critical illnesses, once diagnosed, or a payment of compensation on diagnosis of critical illnesses and on survival for more than 30 days. |
| Smart Health High Deductibles Policy | Your physical health and those of your family must be paid honest heed to. With medical costs on a daily rise, providing quality health care to your loved ones can prove to be an expensive task. Equipping yourself with adequate financial protection for contingencies is the need of the hour. But now you can relax with the Smart Health High Deductibles Insurance Policy. It offers extended coverage for hospitalisation expenses incurred for treatment of disease, illness and injury after applying the deductible that you have opted for. You can enjoy benefits like hospitalisation expenses including doctor fees, room charges, expenses towards surgery and medicine costs, incurred for treatment of disease, illness or injury. Pre and post hospitalisation expenses that reimburse medical expenses related to disease or injury, requiring hospitalization for a period of 30 days prior to hospitalisation and for a period of 60 days post hospitalisation. Pre-existing diseases covers expenses incurred for treatment relating to pre-existing diseases, illness or injury, after 4 continuous renewals with Bharti AXA. It also includes transplantation of organs, ambulance charges, in-patient physiotherapy charges and accompanying person’s expenses. |
Bharti Enterprises is one of India’s leading business groups with interests in telecom, agri business, financial services and retail. Bharti Airtel Limited, a group company, is one of India’s leading private sector providers of telecommunications services with an aggregate of over 100 million customers as of end of June 2009, spanning Mobile services, Telemedia services and Enterprise services. Bharti has recently forayed into retail business under a company called Bharti Retail Pvt. Ltd. It also has a joint venture - Bharti Wal-Mart Private Ltd. - with Wal-Mart for wholesale cash-and-carry and back-end supply chain management operations in India.
AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Europe, North America and the Asia/Pacific area. For full year 2008, IFRS revenues amounted to Euro 91.2 billion and IFRS adjusted earnings to Euro 3.7 billion. AXA had Euro 981 billion in assets under management as of December 31, 2008.
The AXA ordinary share is listed on compartment A of Euronext Paris under the
ticker symbol CS (ISIN FR0000120608-Bloomberg: CS FP- Reuters:
AXAF.PA). The American Depository Share is also listed on NYSE under the
ticker symbol AXA.
Bharti AXA General Insurance Co. Ltd. has presence across India with 37 branches at various locations.
Bharti AXA General Insurance Co. Ltd plans on investing around Rs 645 crore as share capital in expansion plans over the next five years.
  | Forbes mentions Bharti AXA venture into General Insurance - India's Bharti AXA gets regulatory clearance for insurance venture in India - Forbes.com |
| | Reuters news on Bharti AXA getting nod for General Insurance Business - India's Bharti AXA gets nod for general insurance | Reuters |
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