Max Bupa Health Insurance will be rebranded as Niva Bupa Health Insurance owing to a change in shareholding pattern.
With the exit of Max India and the entry of private equity firm True North, Max Bupa needed to create a new brand identity. All changes around the brand transition will likely reflect by year-end.
Niva Bupa Health Insurance plans to become a ₹2,500 crore entity by FY21-22 and maintain strong growth in the market, a company release said Friday. The rebranding will not impact customers and its partners.
Krishnan Ramachandran, MD and CEO, Niva Bupa said, “Following the shareholder transition of Max Bupa from Max India to True North in 2019, we are now ready with our new brand identity as Niva Bupa. The new brand will firmly stand at the intersection of financial services and healthcare to fulfil the needs and aspirations of millions of people in India.”
Backed by True North and Bupa, the rechristened brand Niva Bupa Health Insurance will aim to provide financial assurance and healthcare access to its customers by taking forward its legacy of product innovation, customer centricity and digital capability.
The insurance company will be instrumental in providing access to best-in-class healthcare and would empower its customers with digitally backed meaningful tools to enable greater control over their health and well-being.
The company decided to utilize this as an opportunity to redefine itself. After rigorous consumer testing and insights, the company agreed on ‘Niva Bupa’ as the new name for Max Bupa. The rechristening decision was based on a survey and in-depth interviews across new-age millennials and middle-aged customers who were either existing or first-time buyers of health insurance products, it said in the press release.
Nimish Agrawal, senior vice president & head, marketing, Niva Bupa said, “Our name has changed from Max Bupa Health Insurance Company Limited to Niva Bupa Health Insurance Company Limited effective 5 July 2021. As next steps, we will closely work with our partners and various stakeholders to complete our brand transition by year-end. It will be reflected in all our customer and partner-facing assets henceforth. Our business fundamentals remain unchanged, and there will be no impact of this transition on our customers and partners.”
Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.
Never miss a story! Stay connected and informed with Mint.
our App Now!!