Date of investment: December 2004

TTK is a licensed third-party healthcare administrator (TPA) based in Bengaluru, administering health insurance policies. TTK was rated amongst the top three TPAs in India. It was performing multiple activities like enrollment, pre-authorization, claims processing and adjudication and finance for health insurance companies. All claims processing worked on a distributed model to maintain high quality standard and quick response time to beneficiaries.

With IVFA, TTK grew substantially and expanded its presence into 7 new locations. It became the number one TPA in India. Processes were centralized for better administration and new IT platform was developed. TTK also invested significantly in building analytics capabilities, which enabled it to predict claim ratios with significantly higher degree of accuracy compared to anyone else in India.

Given TTK’s strong market position, high quality of management team and unique analytical capabilities, it received significant acquisition interest from strategic players. In February 2007, TTK sold its business to Swiss Re, a global leader in re-insurance. IVFA divested its stake in TTK to Swiss Re.

• IVFA investment rationale >
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  Health insurance is highly under-penetrated in India and growing rapidly TTK is a leading TPA in India Profitable and growing aggressively Led by a strong professional team
• IVFA value addition >
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  Ensured renewed focus on processes and migration of back-end processes to a centralised delivery architecture Supported building a new IT platform with significant analytical capability

Detailed information on the Company is available at www.ttkhealthcareservices.com