SKS Microfinance Launches Health Insurance in Karnataka|
- February 2007:
SKS Microfinance, in partnership with ICICI Lombard, launched its
health insurance pilot program in Gulbarga, Karnataka. The pilot
program, one of the first of its kind in India, will run for one
year from February 2007 to September 2007. The program provides
health insurance to 25,000 existing microfinance members and their
families, or 100,000 individuals.
“With many of the country’s poor being pushed below the poverty line
due to the high cost of health care, it is important that SKS
provide a mechanism for better health coverage for the poor.” said
Ruchi Singh, Project Manager, Health Insurance.
Health insurance is widely recognized to play an important role in
poverty alleviation. Vulnerability to illness plays a significant
role in abject poverty, as studies have demonstrated that many poor
sell assets or take loans to pay for treatment. Many poor also delay
treatment, which increases the cost borne by individuals or, in
worst-case scenarios, leads to death.
SKS is partnering with ICICI Lombard, one of the largest insurance
companies in India, to provide members with cost-effective and
quality health care. Members receive up to Rs. 20,000 of medical
care for inpatient services, maternity care and personal accident
SKS aims to roll out health insurance throughout India.
About ICICI Lombard
ICICI Lombard General Insurance Company Limited is a 74:26 joint
venture between ICICI Bank Limited and the Canada based $ 26 billion
Fairfax Financial Holdings Limited. ICICI Bank is India's second
largest bank, while Fairfax Financial Holdings is a diversified
financial corporate engaged in general insurance, reinsurance,
insurance claims management and investment management.
Lombard Canada Ltd, a group company of Fairfax Financial Holdings
Limited, is one of Canada's oldest property and casualty insurers.
ICICI Lombard General Insurance Company received regulatory
approvals to commence general insurance business in August 2001.
For more information, please go to