14 March, 2012
• RSBY scheme to be implemented in the entire state of Tripura
• Over 6 lakh BPL (Below Poverty Line) families to get benefited
• Enrolment process to begin in early April 2012
Tripura, March 14, 2012: Royal Sundaram Alliance Insurance Company Limited (www.royalsundaram.in), the first private sector general insurance company to be licensed in India, has signed MoU with the State Government of Tripura. Royal Sundaram will provide health insurance cover, under the government sponsored Rashtriya Swasthya Bima Yojna (RSBY), to the BPL families in the all the districts of Tripura. . More than 6 lakh BPL families are expected to get benefited by the scheme in the state after the addition of families covered by the NREGA. This is the first year that the Company will offer the RSBY scheme in the state following renewal of the ongoing policy. Royal Sundaram has been selected by the Tripura State Government following a competitive public bidding process which involved both public and private insurance companies. The enrolment of beneficiaries, issuance of smart card will begin in the first week of April 2012.
RSBY is a unique scheme which empowers the card holder to get cashless treatment from all RSBY network hospitals across India- public and private both. The beneficiaries under the scheme will have to pay the nominal registration fee of Rs. 30/- to get them enrolled under the scheme. The scheme covers hospitalization expenses of a BPL family of five members for up to Rs. 30,000/- . Beneficiaries can get avail benefits in any of the network hospitals for hospitalization of surgical and non surgical treatments, listed day care treatment, including maternity benefit and also covering new born for remaining policy period. The scheme also provides transportation cost of Rs. 100/- per visit with an overall limit of Rs. 1,000/- per year.
Speaking on the occasion, Managing Director, Ajay Bimbhet said, “Royal Sundaram aims to support the government in addressing the glaring inequalities in rural health at the micro level and bridging the prevailing gaps in healthcare. We are committed to provide good and quality healthcare to most unaffordable class of people for whom accessing it is a farfetched dream.”
Quality network hospitals for better servicing
The success of RSBY scheme lies on the critical factor of its network of hospitals. Having a quality network is a boon to the patients, who can chose to go to any network hospitals in any district of India. Benefits can be availed by producing the smartcard at the hospital. In order to deliver better services to the beneficiaries, the Company has already empanelled 37 hospitals including all Government hospitals in Tripura.
Need for creating awareness
The number of enrolment is one of the parameters to judge the success of RSBY scheme. But more important is the understanding of scheme’s benefits by the beneficiaries. One of the biggest challenges in the success of implementing RSBY scheme for any insurance company is the lack of awareness amongst the beneficiaries. Understanding the same, Royal Sundaram plans to exhibit high degree of commitment in spreading awareness and bring more number of people under the RSBY umbrella.
A few activities that the Company plans to implement are:
•To put up a District Kiosk Centre in every district for efficient coordination and modifications or rectifications in the smartcards.
•The information on the latest empanelled / depanelled hospitals or on other issues to be circulated through leaflets
•Sharing information across channels like radio, print advertisements, banners, loudspeakers announcement, house to house leaflets distribution and many more
•To organize health camps in association with various hospitals in different locations to spread awareness amongst beneficiaries
•To conduct formal and informal sessions for the network hospitals to make them understand how to have a seamless process for RSBY implementation
Presently, Royal Sundaram is servicing the RSBY scheme in the states of Bihar, Arunachal Pradesh, Orissa and Tripura.
About Royal Sundaram
Royal Sundaram Alliance Insurance Company Limited is a joint venture between Sundaram Finance and Royal & Sun Alliance Insurance plc, UK, where the former holds 74% and the latter holds 26% of the equity. Royal Sundaram is the first private non-life Insurance Company licensed to operate in India.
Royal Sundaram offers a range of innovative general Insurance products which includes Motor, Health, Personal Accident, Home and Travel Insurance for individual customers. The Company’s Accident & Health claims process received ISO 9001-2008 certification for effective customer service delivery. For Commercial clients, Royal Sundaram offers a wide range of specialised insurance covers in Fire, Marine, Engineering, Liability and Business Interruption risks. Royal Sundaram also offers specially designed products to the Small and Medium enterprises and Rural customers. Royal Sundaram currently has over 5 million customers, 1700 employees and its products are distributed in over 180 cities across India, through Agents, Distribution Partners, Affinity Partners and Brokers.
About Sundaram Finance
Sundaram Finance, a Non-Banking Finance Company, is one of the most respected financial services companies in India. It finances the entire range of commercial vehicles, passenger cars, construction equipment & tractors. The Group's operations also extend to Insurance, Asset Management, Home loans, Business Process outsourcing, Infotech Solutions and Logistics services. Sundaram Finance has a Nationwide presence with over 500 branches and over half a million customers and depositors who are serviced by over 2500 employees.
With a 300 year heritage, RSA is one of the world’s leading multinational quoted insurance groups. It has the capability to write business in over 140 countries and major operations in the UK, Ireland, Scandinavia, Central and Eastern Europe, Canada, Asia, the Middle East and Latin America. Focusing on general insurance, it has around 23,000 employees and, in 2011, its net written premiums were £8.1 billion.
For further information:
Royal Sundaram Alliance Insurance Company Ltd.