What is Corporate Insurance ?

Corporate Insurance or Group Insurance is a type of insurance known for offering comprehensive insurance coverage to employees of an organization against health, travel and accidental emergencies. It financially secures them against expenses incurred due to unexpected medical exigencies. It also covers medical expenses arising due to accidents or travel related exigencies. Leadership team of an organisation selects an appropriate group health insurance, group personal accident insurance or group travel insurance for securing their workforce, basis their respective needs. Similar to individual insurance, employers can customize their corporate or group insurance as per their needs, with preferred sum insured, type of coverage, and other features.

Types of Corporate Insurance with Care Health Insurance

At Care Health Insurance, we offer three major corporate insurance policies: Group Health Insurance, Group Travel Insurance, and Group Personal Accident Insurance. You can read more about the coverage, benefits, and cost of these corporate policies below:

Why Choose Care Health’s Corporate Insurance?

Care Health Insurance is a specialised health insurer offering Group Health Insurance, Group Personal Accident and Group Travel cover to its customers, with over 11,000 policies providing corporate coverage so far. With its operating philosophy being based on the principal tenet of ‘consumer-centricity’, the company has consistently invested in effective application of technology to deliver excellence in customer servicing, product innovation and value-for-money services to Small and Medium Enterprises (SMEs).

Features of Corporate Insurance

We have designed our Group Insurance products keeping in mind the health, travel and accidental emergencies and related financial risks people working in organizations face every day. We offer corporates seamless on-boarding, comprehensive coverage and quick claim settlement services with our feature-laden products and user friendly digital portals & channels. Assisted by an in-house claims settlement team, our Corporate Insurance stands out with the following features:

• Paperless Documentation
• Quick Enrollment Software
• Real-time Transaction facility on Portal/App
• Easy Changes through dedicated servicing teams
• Extensive App Support including Claim Management, Employee Wellness, and other features.

Who can Buy Corporate Insurance ?

Our Corporate/Group Insurance policies secure organisations irrespective of their type or size. Whether it’s private, public, NBFCs, HFCs, cooperative, MNC, or SME, we serve companies with innovative insurance products that can be customized as per the organization’s headcount, desired healthcare benefits, sum insured preferences etc. Mentioned below are some eligibility criteria for companies to be insured under our group covers:

• Number of lives to be insured in an organization should be at least 7.
• The company should fall under any of these categories: MNC, SMEs, Public companies, PSUs, Private and MNC Banks, NBFCs, HFCs, Joint ventures or Partnerships.
• We offer comprehensive, standard coverage for all the employees in an organisation, with customizable options for Sum Insured according to the policy terms.

Please refer to the policy terms and conditions for complete details on eligibility criteria.

Benefits of Group Insurance

How to Claim Corporate Insurance?

Filing a claim under corporate insurance is as simple as requesting a claim under your personal health cover. All you need to do is follow the steps below-

Documents Required for Claim Processing

• Original hospital reports, doctor’s consultation, prescription, medical tests, etc.
• Original documents of hospitalization, doctor’s consultancy report, pharmacy bills, diagnostic test reports, medical bills, etc.
• Original receipts of amounts paid (if any) by the insured
• Copies of the insured’s ID card
• The primary insured’s bank details

Please note, employees should be active on the email address shared during claim filing. They need to respond to queries raised by the claims team.

Things to Consider While Buying Corporate Insurance

In an effort to provide access to quality healthcare, we support employers in making an informed decision while choosing a corporate insurance that best suits the needs of their employees-

• Categorising the needs: An organization includes people from all walks of life. Principal/head of a company should categorize insurance needs of all employees based on their age, present health condition and history.
• Prioritising the needs: It is imperative to identify healthcare needs of all employees. Management needs to choose a corporate cover that meets healthcare needs of majority of its employees.
• Ensuring Insurer’s Credibility: A high claim settlement ratio, number of claims settled and vast network of healthcare providers are essential factors to evaluate an insurer’s credibility.

FAQs about Corporate Insurance

• Q.How Can I onboard employees to the group insurance policy ?

  Enrolling and on boarding employees to Care Health Insurance’s corporate policy is a hassle-free processes and executed transparently through dedicated software on mobile app/digital portal. Our relationship managers guide partners at every step of the way.

• Q.How many employees/ lives do I need to get Corporate Insurance?

  With Care Health Insurance, you need a minimum headcount of 7 lives to enrol under a corporate cover.

• Q.Does Group Insurance also cover families of employees?

  Yes, the policy offers provisions to cover immediate family members of employees under the beneficiary scheme. However, provisions can be different depending on policy type.