Ola Money and Religare Health Insurance launch Hospital Cash cover, starting at ₹3 per day

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  • The Ola Money-Religare Health Insurance (RHI) Group Health Plan with Hospital Cash Coverallows policyholders to claim ₹5,000 per day of hospitalisation with a total sum insured of ₹500,000 per year
  • The new offering will facilitate access to affordable and quality healthcare for millions of users

National, 25th September 2019: Ola, one of the world’s largest ride-hailing companies, is rolling out a one-of-a-kind health insurance solution in partnership with Religare Health Insurance, helping secure focused healthcare coverage through its financial services arm, Ola Money. The Ola Money-Religare Hospicash enables policyholders to claim ₹5,000 per day of hospitalization, allowing them access to quality and timely healthcare. The policy will be available to all registered Ola users and can be purchased directly through the Ola app.  Through its robust platform, Ola is able to extend an essential financial product like health insurance, to millions of its consumers, helping shield them from unforeseen hospital expenses.

The policy, with a premium as low as ₹3 per day, is available as individual and family plans and can be purchased monthly or for a period of 1 year renewable thereafter. The product offers comprehensive health protection and is also a valuable addition to an existing health cover. Unlike traditional health insurance policies, which are accepted only at preferred network hospitals, the OlaMoneyReligare health cover can be used to reimburse expenses incurred at any hospital across India.  Key features of the product include: 

  • Easy Claims: Reimbursements by simply providing proof of hospitalisation
  • Enrolment:Simple and seamless enrolment for all aged between 91 days to 65 years
  • Lifelong Renewability:Annual Policy Renewal through the Ola app
  • Coverage:Includes hospitalization for Accidents, Treatments & Critical Illnesses

Speaking on the launch, Nitin Gupta, CEO, OlaMoney said, “The financial needs of Indian customers are fast changing with the myriad of uncertainties that surround us.More and more consumers are forced to use their savings to pay for unplanned hospitalization expenses. With our unique Hospicash product, we aim to create seamless access to quality healthcare for millions, forever alleviating the typical hurdles that most policyholders today face.A flexible and affordable proposition, this offering protects customers who are looking for additional medical coverage, with superior benefits.”

He further added,The simplicity of the product and the superiority of its benefits, has the potential to bring millions of first-timers in the country to sign up for an essential cover like health insurance. At Ola, we are committed to building products that make a positive difference in the lives of our customers.”

Speaking about the partnership, Anuj Gulati, Managing Director and CEO, Religare Health Insurance said,It has been our consistent endeavour to make Health Insurance solutions increasingly customized & accessible for consumers, and this product is a testament of our philosophy. It is a thoughtfully designed product that effectively compliments any existing health insurance plan and even competently serves as a standalone health coverage. We believe this is a landmark initiative and we are pleased to partner with Ola as they enter a new paradigm of consumer benefits.”

To enrol for the policy please visit https://hello.ola.app/e/MdMtg9Ptd0 on your mobile or visit the OlaMoney section in the Ola app. 

About OlaMoney:

OlaMoney is one of the fastest growing Fintech companies in India with an active customer base of 27 million+ customers. It is reinventing and simplifying the customer experience for various financial products. OlaMoney started as a wallet service provider as part of the larger Ola group but is now present in 3 additional verticals: Postpaid, Credit Card and Insurance. Currently we are India’s largest postpaid/ pay later services provider with OlaMoney postpaid being 2.5X bigger than OlaMoney wallet. We are also the world’s largest micro-insurer and facilitate sales of over 20M policies to customers every month. Recently we forayed into credit led payments with OlaMoney SBI Credit Card, which is the most rewarding travel credit card and the first of its kind digitally.

About Religare Health Insurance:

Religare Health Insurance (RHI) is a specialized health insurer offering health insurance services to employees of corporates, individual customers and for financial inclusion as well. With its operating philosophy being based on the principal tenet of ‘consumer-centricity’, the company has consistently invested in the effective application of technology to deliver excellence in customer servicing, product innovation and value-for-money services.

RHI currently offers products in the retail segment for Health Insurance, Critical Illness, Personal Accident, Top-up Coverage, International Travel Insurance and Maternity along with Group Health Insurance and Group Personal Accident Insurance for corporates. Religare Health Insurance has been adjudged the ‘Best Health Insurance Company’ once at the ABP News-BFSI Awards 2015 and again at the Emerging Asia Insurance Awards, 2019 & ‘Best Claims Service Provider of the Year’ – Insurance India Summit & Awards 2018. RHI has also received the ‘Editor’s Choice Award for Best Product Innovation’ at Finnoviti in 2013 and was conferred the ‘Best Medical/Health Insurance Product Award’ at the FICCI Healthcare Excellence Awards in 2015, 2018 and 2019. Visit www.religarehealthinsurance.com.

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