NIC to focus on health insurance: CMD

Bangalore, July 31: National Insurance Company Ltd, country's leading general insurance company, will give a renewed focus on Health Insurance as health care had been receiving prominence and focus, Company Chairman and Managing Director V Ramaswamy said today.

Speaking after inaugurating two Divisional offices in the City, he said NIC, a pioneer in introducing innovative health products, had collected Rs 480 crore as Health Insurance premium and expected a growth of 25 per cent in the current fiscal.

He said NIC settled 82 per cent among 4.20 lakh claims last year and had set a target of 90 per cent settlement during the current financial year.

Mr Ramaswamy said NIC was confident of achieving the targetted premium collection of Rs 4300 crore this fiscal and during the first quarter it had achieved a collection of Rs 1050 crore. The profit was expected to be in the range of Rs 430 crore, he added.

NIC was embarking on Business Process Re-engineering with an aim to bring about a radical performance improvement within the Company with a focus on customer service, he added.

UNI