According to him, life insurance companies have been mostly focusing on mortality business till recently while other verticals such as morbidity (health), pension and wealth creation are gaining traction.
"Life insurance companies have the requisite data required for designing a health product, however, the data has to be properly interpreted and understood. We are working on it," he said.
Ulip currently contributes over 62 per cent of its total business, he said.
According to him, the life insurer, which was earlier focusing on the mass segment particularly in non-metro cities, is now looking to expand its base in metros.
"The focus would be on mass affluent and affluent customers," he said.