Stockrabit · Analysts
Questions across 2 calls

Swarnab Mukherjee

B&K Securities

Niva Bupa Health Insurance Company Limited

Niva Bupa Health Insurance Company Limited CC-Sep24.pdf · 2024-11-25
Hi, sir. Good evening and thank you for the opportunity. I have a broad industry -level query. I just wanted to take the data that we have from IRDA in terms of the number of unique lives that are insured in the retail space. I think that number is somewhere around INR5.2, INR5.3 odd crores as of FY'23. I don't have any newer data. So, I just wanted to understand that in FY '24 and FY'25, have we seen that number to increase or if you have a sense on how that is happening, how that is playing out and in case the number is stagnant and given the fact that the sense that we get from you and also other listed players is that a round of price hikes are again coming. So, in that way, would it become this the higher ticket size of a policy? Would it become an impediment for adding newer lives in the retail part? So, I wanted to know your thoughts on that where this challenge has been in adding these newer lives from the industry as a whole and what are we doing to navigate through that. And also, sir, as an addition to that, we have been hearing that this porting as a process has also picked up in the industry. So, I wanted to understand from your side your thoughts on this and if you could share what proportion of your fresh coming from porting and in porting also what could be the impact on the future claims of the customer because we'll be on-boarding customers who are slightly ahead in the cycle as opposed to somebody building a fresh - taking a fresh policy. So, I wanted to know your thoughts on this and psot that, maybe I can squeeze in some data keeping question.
Just to clarify, so when you say the proportion of the book, it is the overall book or on the fresh side?

Star Health and Allied Insurance Company Limited

Star Health and Allied Insurance Company Limited CC-Sep23.pdf · 2023-10-31
My question revolves around the renewals and the fresh business. So, if you could share I can see that in terms of the premium, for the second quarter you have almost got back the whole renewal book of last year second quarter was 99% odd is the renewal number which I can triangulate. What that would be in terms of number of policies, how much, what proportion of policies would you have been able to retain given that you have taken a price hike. So, that is one, and also if I try to understand the new business growth specifically in the retail health space excluding the group business that you h ave started to scale up also, that number compared to last year is lower right now, and I just wanted to understand that two elements of it, one is that you have mentioned that the new business is growing from the banca and the digital channel. So, how are the ticket sizes in this newer channels vis-à-vis, how we were used to write it earlier when it was primarily agency driven indemnity product. So, is there a hit coming from a lower ticket size say in the digital or the banca side and also given the fact that we have consistently been adding new agents, what is the activation levels of these newer agents and why is it not translating into relatively large ticket size retail health indemnity products. So, if you could give some colour on that, what is going on and in conjunction to this, if you could help us understand how we would plan to as your growth target of around say higher than industry growth? So, I would assume that maybe upwards of 18% for next financial year.
So, still I have not, if you could provide some more clarity, if the ticket size is not a concern and you are confident of growing also why is like in the last two quarters we're seeing around say maybe Rs. 500 to Rs. 550 odd crore of fresh business coming in which was a bit higher last year, and how we can kind of drive that ahead, what would be the factors that will kind of take this to a higher scale?