01-10-2019
OlaMoney and Religare Health launch hospital cash cover, starting at ₹3 per day
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Insurance Alertss|
01-10-2019
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OlaMoney and Religare Health launch hospital cash cover, starting at ₹3 per day
Ola is rolling out a health insurance solution in partnership with Religare Health Insurance, helping secure focussed healthcare coverage through its financial services arm, OlaMoney.
The OlaMoney-Religare Hospicash enables policyholders to claim ₹5,000 per day of hospitalisation with a total sum insured of ₹500,000 per year, allowing them access to quality and timely healthcare. Available to all registered Ola users, the policy can be purchased directly through the Ola app.
The policy, which offers a premium as low as ₹3 per day, is available as individual and family plans and can be purchased monthly or for a period of one year, renewable thereafter. The product offers comprehensive health protection and is also a valuable addition to an existing health cover. Unlike traditional health insurance policies which are accepted only at preferred network hospitals, the OlaMoney Religare health cover can be used to reimburse expenses incurred at any hospital across India.
Key featuers
Some of the key features of the product include: Easy claims reimbursements by simply providing proof of hospitalisation, seamless enrolment for all aged between 91 days to 65 years, lifelong annual policy renewal through the Ola app, coverage including hospitalisation for accidents, treatments and critical illnesses. To enrol for the policy, users can visit the OlaMoney section in the Ola app.
Speaking on the launch, Nitin Gupta, CEO, OlaMoney said, “The financial needs of customers are fast changing with the myriad uncertainties that surround us. More and more consumers are forced to use their savings to pay for unplanned hospitalisation expenses. With our unique Hospicash product, we aim to create seamless access to quality healthcare for millions, forever alleviating the typical hurdles that most policyholders today face. A flexible and affordable proposition, this offering protects customers who are looking for additional medical coverage, with superior benefits.”
“It is a thoughtfully designed product that effectively complements any existing health insurance plan and even competently serves as standalone health coverage. We believe this is a landmark initiative, and we are pleased to partner with Ola as they enter a new paradigm of consumer benefits” said Anuj Gulati, Managing Director and CEO, Religare Health Insurance.
OlaMoney has an active customer base of 27 million+ customers. OlaMoney started as a wallet service provider as part of the larger Ola group but is now present in three additional verticals: Postpaid, Credit Card and Insurance.
Source: Business Line