The move is aimed at creating a retail-focused entity in this space, Ambani added.
He also said RCap is actively exploring new-age technologies like blockchain and artificial intelligence in various business lines, including insurance. The company has already deployed IoT (Internet of Things) solutions across a few cases and is seeing great results.
There are already six standalone health insurers operating in the general insurance industry – Apollo Munich, Max Bupa, Religare, Cigna TTK, Star Health and Aditya Birla Health Insurance.
The standalone health insurers have witnessed a growth of 42.52% in the gross direct premium underwritten in the period between April-August this fiscal year. They have underwritten Rs 2,553.22 crore worth of premia, opposed to RS 1,791.50 crore in the same period last year.
On Reliance Home Finance, which was listed last week, he said the focus going forward will be on affordable housing. Moreover, the public issue of Reliance General Insurance is on course, having received the Irdai approval for the same and the listing will take place in the current financial year itself, he added.