Max Bupa Health Insurance rebranded as Niva Bupa
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.
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According to a corporate announcement on Friday, Niva Bupa Health Insurance expects to develop to a 2,500 crore firm by FY21-22 and maintain robust market growth. Customers and partners will be unaffected by the rebranding.
“Following the shareholder change of Max Bupa from Max India to True North in 2019, we are now ready with our new brand identity as Niva Bupa,” stated Krishnan Ramachandran, MD and CEO of Niva Bupa. The new brand will be firmly established at the crossroads of financial services and healthcare to meet the needs and ambitions of millions of Indians.”
The renamed brand Niva Bupa Health Insurance, which is backed by True North and Bupa, will aim to provide financial assurance and healthcare access to its consumers by continuing its tradition of product innovation, customer centricity, and digital capacity.
The insurance firm will play a key role in ensuring that consumers have access to best-in-class healthcare and will provide them with technologically supported tools that will give them more control over their health and well-being.
The corporation decided to take advantage of the situation to rebrand itself. The business decided on ‘Niva Bupa’ as the new name for Max Bupa after extensive consumer testing and feedback. According to the press release, the decision to rename was based on a survey and in-depth discussions with new-age millennials and middle-aged clients who were either existing or first-time users of health insurance products.
Nimish Agrawal, Niva Bupa’s senior vice president and head of marketing, stated, “With effect from July 5, 2021, our name has changed from Max Bupa Health Insurance Company Limited to Niva Bupa Health Insurance Company Limited. Next, we’ll work together with our partners and other stakeholders to complete our brand transformation by the end of the year. From now on, it will be represented in all of our customer and partner-facing assets. Our company principles will stay unaltered, and this transformation will have no effect on our customers or partners.”