TATA AIG to deepen affordable health insurance segment

Mumbai, Apr 16: TATA AIG General Insurance Company today announced the launch of MediCare Select, a next-generation health insurance solution aimed at strengthening its retail health portfolio and expanding healthcare access across India.

As part of its broader growth strategy, TATA AIG is targeting a significant expansion of its healthcare footprint by increasing its hospital network from 11,500 to over 14,000 facilities by FY27. The company expects Tier 2 and Tier 3 markets to contribute 35% to its health insurance portfolio in the same duration, up from the current 26%, reflecting its growing focus on underserved regions and deeper retail penetration. As of March 2025, TATA AIG reported a Gross Written Premium (GWP) of ₹17,700 crore, reflecting a robust 17% growth over the previous fiscal year.

The launch aligns with TATA AIG’s focus on strengthening its retail health portfolio and delivering future-ready health solutions. MediCare Select is part of the company’s broader ambition to expand in both urban and semi-urban markets by offering flexible and inclusive coverage options.

The Indian health insurance sector is undergoing rapid transformation, growing at an estimated 18% CAGR, driven by rising medical costs, increasing health awareness, and the rise in lifestyle-related conditions. India’s general insurance market is expected to touch ₹5.6 lakh crore by FY31, with health insurance becoming a key enabler of accessible and inclusive healthcare.

Neel Chheda, Chief Underwriting and Data Science Officer, TATA AIG General Insurance Company Limited, said, “MediCare Select brings together value, versatility, and access — offering meaningful protection that aligns with the changing healthcare needs of today’s consumers. As medical costs rise and health conditions evolve, this product enables individuals and families to stay covered without compromise. Over the past three years, we’ve seen growing adoption of our retail health offerings, and this launch will help us extend that reach to more geographies and segments, ensuring broader access to quality healthcare.”