KG Krishnamoorthy Rao, MD & CEO, Generali Central Insurance Company
Generali Central Insurance Company is exploring introducing a health insurance product that will link premiums to the location of a policyholder. Further, it is also weighing if covers for cyber-related risks faced by bank depositors and identity theft can be launched.In an interaction with businessline, MD & CEO KG Krishnamoorthy Rao, observed that hospital costs can vary significantly between cities. However, traditional health insurance products charge similar premiums irrespective of where the customer lives or seeks treatment.So, Generali Central Insurance, which is a joint venture between Italy-headquartered Generali Group (75.09 per cent stake) and Central Bank of India (24.91 per cent), is examining a health insurance product that would link premiums to the location where a policyholder receives treatment.Rao said under the proposed product, customers in higher cost cities such as Mumbai could pay a higher premium, while those in relatively lower cost locations such as Nagpur could pay less.However, customers from lower cost locations could face a co-payment or additional contribution if they choose to undergo treatment in a more expensive city.Rao opined that this could help align premiums more closely with actual healthcare costs.Cover for cyber-related risksThe private sector general insurer is also examining products aimed at protecting individuals against growing cyber-related risks, including cover for losses from unauthorised transactions or misappropriation of funds from bank accounts due to cyber incidents.The Generali Central Insurance Chief said the proposed cyber insurance products could be offered at different coverage levels, with premiums varying according to the amount insured.He observed that cyber-risk protection is becoming increasingly relevant as consumers conduct more financial transactions digitally and face a growing risk of online fraud.Identity theft protectionAnother product that the general insurer is weighing is identity theft protection. Rao observed that identity theft is a relatively common risk in some countries and can leave victims facing legal and other expenses to restore their identity or fight fraudulent activity. So, introducing such an insurance cover could potentially help meet some of those costs.Published on August 26, 2026
