Customers Health Insurance: Airtel Payments Bank (APB) has partnered with Care Health Insurance to offer its customers health insurance products via the Airtel Thanks app.
Customers of APB, the payments banking arm of Bharti Airtel, will have access to family health insurance products with a host of sum-insured options, ranging from Rs 50,000 to Rs 5 lakh. The offerings will also include coverage towards pre-existing ailments and day care treatment.
Customers can opt for the health insurance services through the Airtel Thanks app and pay using an APB account, net banking or debit cards of other banks.
“…our tie up with Care Health Insurance will enable us to take benefits of health insurance to millions of under-insured and uninsured Indians through our extensive distribution network and digital reach,” Ganesh Ananthanarayanan, Chief Operating Officer, APB, said in a statement Wednesday.
ET had earlier reported that nearly 30% of India’s population is devoid of any health insurance backup, citing a NITI Aayoog report.
Incidentally, APB had reported a 141% on-year jump in net profit to Rs 21.7 crore in FY23 on the back of strong growth in its transacting user base and gross merchandise value (GMV). It also reported a 37% on-year growth in revenue to Rs 1,291 crore in FY23. Revenue growth was strongest in the fiscal fourth quarter, rising 19% sequentially to Rs 379 crore.
