Oriental Insurance plans to expand its health insurance business, develop cost-effective MSME products and grow its surety bond portfolio as it seeks stronger business growth and financial performance.
Oriental Insurance Company is turning to health insurance, MSME-focused products and surety bonds to drive its next phase of growth, Chairman and Managing Director Sanjay Joshi said.
The public sector general insurer plans to make health insurance more accessible while developing cost-effective products for small and medium-sized businesses. It also wants to expand its surety bond portfolio and use technology to improve customer service and claims management.
Oriental Insurance targets health insurance growth
The company plans to strengthen its health insurance business by expanding hospital networks, introducing standardised and preferential package rates and improving cashless services.
Oriental Insurance also wants to tighten controls over fraud and claims leakage. Joshi said the insurer aims to create a sustainable healthcare ecosystem in which hospitals receive fair compensation, insurers manage claims costs effectively and policyholders receive timely treatment with greater cost predictability.
The focus comes as health insurance becomes an increasingly important part of Oriental Insurance’s business. The insurer crossed ₹20,000 crore in gross premium in FY2025-26, with health, fire, motor and group personal accident insurance contributing significantly to growth, according to the Ministry of Finance.
MSME products and surety bonds add to strategy
Oriental Insurance also sees scope to expand insurance among MSMEs through more affordable and targeted products. Joshi said cost-effective offerings can help increase insurance penetration among businesses.
The insurer has also entered the surety bond market. Its offerings include bid bonds, performance bonds, advance mobilisation bonds, retention bonds, customs bonds and court bonds.
Alongside product expansion, Oriental Insurance is increasing its technology investments. The company plans to spend around ₹500 crore over three years on digital capabilities, including a data lake, stronger data security and additional digital products.
The insurer has already launched an end-to-end digital process for motor own-damage claims and wants to extend similar capabilities to other insurance claims segments. It has also introduced Oriental DigiBiz, allowing customers to purchase certain policies directly online.
Oriental Insurance expects its expanded product portfolio, stronger digital infrastructure and focus on health and MSMEs to support growth. The company also plans to use the value unlocked from its stake in the National Stock Exchange to strengthen liquidity and solvency.
Why Insurance Matters for Your Family: Understand why adequate insurance protection matters when preparing for unexpected financial risks. – Learn Why Insurance Matters
Also Read: GST Cut Lifts Insurance Demand and Coverage
Disclaimer: This MyRupia article provides information based on publicly available government, regulatory and industry sources. It does not constitute investment, financial, tax, insurance or legal advice. Information, examples, market data and expert views may change over time and do not represent a recommendation to buy, sell, invest in or surrender any financial product. Readers should consider their individual circumstances and consult a qualified financial professional before making financial decisions.