SBI Health Insurance

Launched in the year 2009, SBI General Insurance is one of the fastest-growing general insurance companies in India. The company has expanded its branches to 141 centers across India and has served 55.55 crore customers. [1] Commenced as a joint venture between State Bank of India (SBI) and Insurance Australia Group (IAG), since 2020 based on the stake sale by IAG, SBI now owns 70%, Napean Opportunities LLP (Premji Invest affiliate) owns 16.01%, Honey Wheat Investment Ltd. (an entity forming Warburg Pincus Group) owns 9.99%, PI Opportunities Fund-1 owns 2.35% and Axis New Opportunities AIF-I owns 1.65% stake in SBI General Insurance. [2] In the retail segment, the company offers products from motor insurance to home, travel, personal accident, cyber, health, and life insurance.

About SBI Health Insurance

SBI General Insurance offers various health insurance products keeping Indian customers’ specific requirements in mind. SBI health insurance plans offer comprehensive medical coverage that includes hospitalisation costs, in-patient hospitalisation expenses, daycare treatment, and many more. [3] The company also covers Ayush Treatment, Bariatric Surgery, Congenital Anomaly, and Mental Healthcare in select plans. SBI General Insurance’s health insurance plans are preferred by customers due to its plan-specific features of Claim Shield Protection, Health Multiplier for Serious Illness, OPD Cover, Global Treatment, and Assisted Reproductive Treatment. SBI General Insurance has a claim settlement ratio (CSR) of 66.08% as of FY22. [4]

Here are some key metrics to keep in mind for SBI Health (SBI General Insurance):

*The percentage of claims settled by an insurance company relative to the total number of claims received is known as the Claim Settlement Ratio (CSR). Any company with a CSR of 85% or above is considered good to buy insurance from.

*The solvency ratio [6] is a financial indicator that measures a company's ability to meet its long-term debt obligations and signifies its financial stability. Any company having a solvency ratio >1.5 is considered to be good to buy insurance from.

*Life covered refers to the number of people insured, the data source is SBI General Insurance’s official website [1]

Here are the two ways through which you can purchase your SBI Health Insurance Policy:

Purchase SBI Health Insurance Policy From Insurer Website

Here’s how you can purchase SBI Health Insurance through their website [9]:

Step 1: Visit the Health Insurance Page on SBI General Website

Open your web browser and then go to the official website of SBI General Insurance and select health insurance from our products section.

Step 2: Fill in the Required Details

Once you click on the health insurance tab, you will be redirected to the main page of SBI health insurance. Fill in your details (name, phone number, and email address) and click on get quote.

Step 3: Choose a Plan

Once you click on the get quote button you will reach a page with all the plans offered by SBI under health insurance. You can choose a plan of your choice.

Step 4: Select Add-ons

After selecting your plan of choice, you will have the option to select the add-ons as per your requirements. You can then move forward.

Step 5: Make Premium Payment Online

Proceed to the buy now section and complete the premium payment for your choice of SBI health insurance plan.

Note that whether you purchase an SBI health insurance policy from InsuranceDekho or SBI General Insurance’s company website, you will get an update on your registered mobile number and email address.

With the announcement of “Cashless Everywhere” [10] by the General Insurance Council of India, you can avail of coverage from SBI health insurance by informing their customer support team about your hospitalisation in the following manner:

• In case of planned hospitalisation: 2 days before hospitalisation
• In case of an emergency: within 24 hours of hospitalisation [11]

Please note, that a claim must be made within 15 days post hospitalisation. [12]

However, the General Insurance Council has emphasised that the claim must adhere to the terms and conditions listed by the insurer in your policy document.

It is also important to make sure that the hospital of your choice is not in the excluded or blacklisted hospital list of SBI General Insurance. To check out the list of blacklisted hospitals, visit SBI’s hospital list section on their website and click on the blacklisted hospitals button. By doing so, a PDF will be downloaded on your device which contains the entire list of blacklisted hospitals. [13]

Awards and Achievements of SBI General Insurance

1. General Insurance Company of the Year - 4th Annual BFSI Excellence Award 2023
2. Best General Insurance Company India Runner Up - Emerging Asia Insurance Awards 2023
3. Corporate Excellence Award - Rural Marketing Association of India 2023
4. One of the Best Brands in 2023 - ET Edge Best Brands Award 2023
5. Sales Champion in the non-Life Insurance Category - ET Edge Best Brands Awards 2023
6. Highest Growth General Insurance Runner Up - ASSOCHAM 15th Global Insurance Summit & Awards 2023

Connect with SBI Health Insurance in the following ways with any queries you may have:

• Call 1800-102-1111 to get your queries answered
• Contact their toll-free number 1800 22 1111 or SMS "CLAIM" to 561612 and then to get your claim number/reference number
• You can also visit the Contact Us page of the company on their website and select from the options:

• • Quick Assist: This will redirect you to the customer portal. You can write to them there or download your policy document, edit or modify your policy, check policy status, cancel your policy, etc
  • Request a Call Back: When you click on this button, you will be redirected to a form page where you can enter your details like name, phone number, and email address and then choose health insurance in the product option, enter the captcha, and then click the submit button. You will get a call back from their team.
  • Queries & Suggestions: In case you have any queries or suggestions, click on the queries and suggestions button to get to the form page where you can add your details and inputs in the remarks section, enter captcha, and then submit.
  • View Location Map: You can also choose to visit the nearest branch office by clicking on the view location map button.

To make your life hassle-free, connect with an InsuranceDekho relationship manager by calling +91-7551196989

Complaints & Grievance Redressal

To get your health insurance-related grievance, do the following:

• Call SBI General Insurance’s 24*7 toll-free number for claim-related queries 1800 210 3366 / 1800 210 6366 or email at sbig.health@sbigeneral.in or write to them at SBI General Insurance Company Limited, 9th Floor, Westport, Pan Card Club Road, Baner, Pune, Maharashtra - 411 045
• For grievance redressal write to head.customercare@sbigeneral.in
• For grievance redressal of Senior Citizens, write to them at seniorcitizengrievances@sbigeneral.in or call on the Toll Free number 1800 22 1111 / 1800 102 1111 Monday to Saturday (8 am - 8 pm)
• In case you are not satisfied with the response, reach out to the Grievance Redressal Office at gro@sbigeneral.in or contact Mr. Virag Mishra at 022-45138021.

You can also contact InsuranceDekho at grievance@insurancedekho.com or visit here for more details: https://www.insurancedekho.com/grievance-redressal to get your grievance and redressal done through us.

1. https://www.sbigeneral.in/about-us
2. https://www.sbigeneral.in/
3. https://www.sbigeneral.in/health-insurance/
4. https://www.insurancedekho.com/health-insurance/companies
5. https://content.sbigeneral.in/uploads/5bb68ca28dd645d886e5eb19152007a7.pdf
6. https://irdai.gov.in/web/guest/document-detail?documentId=4273788
7. https://www.sbigeneral.in/health-insurance/individual-medical-insurance
8. https://content.sbigeneral.in/uploads/282171a1c5be48c79563312886aba812.pdf
9. https://www.sbigeneral.in/health-insurance/
10. https://www.insurancedekho.com/health-insurance/news/general-insurance-council-india-launches-cashless-everywhere-initiative-10251
11. https://www.sbigeneral.in/blog-details/how-to-file-a-health-insurance-claim
12. https://content.sbigeneral.in/uploads/33f1bfa6830e4ef69f8318d749c6f4cc.pdf
13. https://www.sbigeneral.in/contact-us/hospital
14. https://www.sbigeneral.in/contact-us