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NIVABUPA IPO

Niva Bupa Health Insurance Company Limited
Start Date07-11-2024
Application Timing10am-5pm
Price Range₹70 - ₹74
Min Qty200
Min. Investment₹14000
Listing DateNA
Close Date11-11-2024

About Niva Bupa Health Insurance Company Limited

Niva Bupa Health Insurance Company Limited is one of India’s largest and fastest growing Standalone health insurers (SAHI). Its purpose is to “give every Indian the confidence to access the best healthcare”. Company had 14.73 million active lives insured as of March 31, 2024. They are strategically focused on the retail health market and their GWP (Gross Written Premium) from retail health products was 68.47% of their overall GWP for Fiscal 2024.

Company offers customers the ability to access a comprehensive health ecosystem and service capabilities via ‘Niva Bupa Health’ mobile application and website, thereby offering them a holistic proposition. 

Company's promoters, Bupa Singapore Holdings Pte. Ltd. and Bupa Investments Overseas Limited, are members of the Bupa Group, an international healthcare organization serving over 50 million customers worldwide since 1947.

Why To Invest in Niva Bupa Health Insurance Company Limited

Incorporated in 2008, Niva Bupa Health Insurance Company Limited is a joint venture between the Bupa Group and Fettle Tone LLP that provides health insurance. 

The company proposes to utilise the Net Proceeds towards the following: 

Augmentation of its capital base to strengthen solvency levels 

Financial Table
Year30th June 2024202420232022
Revenue (Rs. Cr)1,124.904,118.632,859.241,884.54
PAT (Rs. Cr)-18.8281.85 12.54-196.53
Strengths And Risks
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Granular retail health insurer: Niva Bupa is a retail health insurer with a focus on delivering robust GWP growth, capital efficiency and profitability. Company's focus on higher LTV and the higher margin products in the retail health line of business resulted in a contribution of 70.72% of new retail health indemnity policies with sum insured of over Rs. 1 million for Fiscal 2024.
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Customer centric : Company has built a range of health insurance product offerings that seek to cater to all stages of the customer lifecycle.
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Technology-led automated approach: Niva Bupa has designed automated and digital self-serve capabilities aimed at enabling customers to benefit from a seamless, self-serve experience with minimal manual intervention.
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Bupa parentage and brand : Bupa’s global health insurance and healthcare experience has had a meaningful influence and impact on company in multiple areas such as product innovation, technical support and actuarial insights and customer centricity.
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Domain Knowledge: Company in the past has processed 100% of claims under retail health products through its dedicated in-house claims team. They use machine learning-based algorithms and logistics regression models to identify fraudulent claims, paperless digital claims submission system.
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Underwriting Risk: Company's profitability depends on its ability to manage underwriting risks and appropriately price products. Any failure to accurately estimate medical expenses or the frequency of claims could have a material adverse effect on business.
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Regluations: Company is subject to extensive supervision and regulatory inspections by IRDAI and any regulatory and statutory actions against them or distributors could cause them reputational harm and have a material adverse effect on business.
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Claims Management: Any failure to accurately and timely pay claims could lead to customer dissatisfaction and result in regulatory actions or penalties, which could materially and adversely affect business.
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