Which Health Insurance Rebranded Itself As Care Health Insurance?

Religare Health Insurance Company is the company that rebranded itself as Care Health Insurance. On 1 September 2020, the company rebranded itself as ‘Care Health Insurance’ to show that the brand cares for your well-being. The brand has changed its name and its tagline as ‘Health ki Guarantee’. Apart from this change, the core values, products and services of the company remain the same.

Table of Contents

• Which Health Insurance rebranded itself as Care Health Insurance?
• Why did Religare Health Insurance undergo rebranding?
• How were Religare’s products and services impacted after rebranding?
• Has rebranding helped Religare Health Insurance?

Which health insurance rebranded itself as Care Health Insurance?

Religare Health Insurance Company rebranded itself as Care Health Insurance. The company said that the name change was intended to convey its belief in facilitating access to quality healthcare. The company also said that “care” has been the guiding principle for all of its customer-centric initiatives. The rebranded entity continued to emphasize product innovation, which could lead to the introduction of new and improved insurance products for customers.

Why did Religare Health Insurance undergo rebranding?

According to Dr.Rashmi Saluja who is the Executive Chairperson of Religare Enterprises Limited:

The company did not disclose any particular reason for the name change, but it is speculated that:

• It was done to better reflect the company’s focus on providing care to its customers.
• The new name, Care Health Insurance, is more customer-centric and conveys the company’s commitment to providing its customers with the best possible care. 
• It also encompasses the company’s wide range of products and services, which go beyond just hospitalization to include preventive health check-ups, wellness services, doctor consultations, diagnostics, home care, and more. 
• The company wanted to create a new identity for itself and signal to its customers that it was committed to providing them with the best possible service.

How were Religare’s Products and Services impacted after rebranding?

Even after rebranding, the company continued to focus on providing quality health insurance policies across the continuum of care. This ensured that policyholders could still access reliable and comprehensive coverage. Care Health Insurance expanded its focus on financial inclusion, ensuring that a broader range of individuals and groups could access health insurance coverage.

Has Rebranding Helped Religare?

Yes, rebranding has helped Religare. In 2018, Religare Health Insurance rebranded as Care Health Insurance. The company has seen increased brand awareness and recognition, improved brand image and reputation, differentiation from competitors, attracted new customers and partners, and boosted employee morale and productivity.

The rebranding has been a success for Religare Health Insurance. The company has seen significant growth in recent years, both financially and in terms of brand image.

• Growth: The rebranding was successful in achieving its objectives. Care Health Insurance has seen significant growth in recent years. In 2021-22, the company’s gross premium income grew by 30% to Rs. 4,300 crore. The company’s market share also increased to 4.5%.
• Increased brand awareness and recognition: Religare rebranded to Care Health Insurance in 2018. This rebranding was aimed at leveraging opportunities to deliver the utmost ‘Care’ to its consumers. The new brand name is more memorable and relevant to the company’s target audience. Religare has also invested in marketing and advertising campaigns to increase brand awareness of the new Care Health Insurance brand.
• Improved brand image and reputation: The rebranding to Care Health Insurance has helped Religare to improve its brand image and reputation. The new brand is seen as more modern, innovative, and customer-centric. This is due to the company’s focus on providing high-quality healthcare services and its commitment to customer satisfaction.
• Differentiation from competitors: The Care Health Insurance brand is differentiated from its competitors by its focus on preventive healthcare and its commitment to providing a personalized healthcare experience. The company also offers a variety of products and services to fulfil the requirements of the customer base.

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Conclusion

Rebranding, when executed thoughtfully and strategically, can have an overall positive impact on a company. It enables the organization to refresh its image, adapt to changing market dynamics, and connect with a broader audience. By repositioning itself in the market, a company can target new customer segments and convey a fresh message, which often leads to increased market share and revenue growth. Rebranding also allows a company to reflect evolved offerings, ensuring that customers are aware of its updated products or services.