TATA AIG General Insurance Company has introduced MediCare Select, a new health insurance product designed to enhance its position in India’s rapidly growing health insurance sector. The company plans to expand its hospital network from 11,500 to over 14,000 facilities by FY27, in line with its goal to offer broader access to affordable healthcare across urban and rural areas.
The introduction of MediCare Select aligns with the broader trends in India’s health insurance market, projected to grow at an 18% CAGR. Key features of the product, such as unlimited restorations of the sum insured, OPD coverage, maternity benefits, and customizable riders, cater to the changing needs of today’s health-conscious consumers. TATA AIG’s focus on expanding its retail health portfolio will drive penetration in Tier 2 and Tier 3 markets, where demand for affordable and comprehensive health plans is on the rise.
Local agents report heightened interest in plans that provide extensive coverage options at accessible premiums, making this product a strong fit for the market’s evolving needs. TATA AIG’s strategic initiatives place it in a strong position to benefit from the expanding ₹5.6 lakh crore health insurance market in India.
