- Total premium under management grew 22.4% year-on-year to Rs 5,969 crores
- Group premiums grew 19.6% to Rs 5,422 crores
- Retail premiums grew 60.1% to Rs 547 crores
- Total income grew 18.3% year-on-year to Rs 172.9 crores
- Operating revenue grew 19.1% to Rs 167.7 crores
- Operating EBITDA grew 57% to Rs 35.2 crores with 21% margin
- Profit after tax grew 7.1% to Rs 19.1 crores
- Overall market share in health insurance premiums administered increased to 21.3%, up 40 bps year-on-year
- Group segment market share at 30.2%
- Retail segment market share improved to 5.5% from 4.1% last year
- Aim to get back to steady-state margins of 23-24% after completing integrations of acquisitions
- Completed integration with NHCX platform for processing live claims
- Integrated with 17 insurance companies on NHCX platform
- Facilitated over 19,000 expedited discharges through Raksha Prime program using AI/ML
- Delivered 2x growth in fraud prevention and savings to insurers using AI/ML models
- Focus on improving policyholder experience and delivering more value to insurance partners
- Increased focus on retail business – now working with 14 insurers on retail portfolio
- Using technology and data analytics to improve operational efficiency and prevent fraud
- Emphasis on cashless claims processing and digitization of workflows
- Increasing health insurance penetration and awareness post-COVID
- Regulatory push towards improving policyholder experience
- Some softening in corporate hiring impacting group insurance growth
- Medical inflation pressures
- Strong growth in premium under management and revenues, especially in retail segment
- Focus on technology and AI/ML to improve efficiency and prevent fraud
- Working towards restoring steady-state margins after recent acquisitions
- Well-positioned to benefit from increasing health insurance penetration in India
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