Sify.com reports that Ministry of Social Justice and Empowerment in partnership with ICICI Lombard General Insurance has launched a health insurance scheme for differently-abled individuals living below the poverty line:
The Ministry of Social Justice and Empowerment has awarded the mandate to ICICI Lombard General Insurance to provide health insurance to a maximum of 1,00,000 specially-abled persons below poverty line in
ten districts. Central Delhi in Delhi, Chandigarh in Haryana, Jabalpur in Madhya Pradesh, Kaimur in Bihar, Agarthala in the North Eastern Region, Raebareily in UP, Erode in Tamil Nadu, Ernakulam in Kerala,
Ahmedabad in Gujarat and Bhageshwar in Uttarakhand.
It’s interesting that the Ministry decided to partner with a private player, instead of a state-run player. However, the partnership does bring out the potential in BOP markets for micro-insurance and as urban markets become competitive, players (private or not) will start heading to rural areas and more niche markets – the above example being the case in point.