Health Insurance

IRDAI Proposes Sweeping Changes to Health Insurance Underwriting and Claims Settlement

IRDAI Proposes Sweeping Changes to Health Insurance Underwriting and Claims Settlement

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IRDAI is pushing for simpler policy wording, stricter point-of-sale underwriting, and transparent treatment pricing to boost customer trust and health insurance penetration. The high-level panel emphasised that health insurance products must become easier for policyholders to understand and utilise. To minimise claim rejections due to inadequate medical disclosures, the committee advocated for strengthening underwriting protocols directly at the point of sale. The regulatory body also highlighted the critical need for insurers, intermediaries, agents and Third-Party Administrators (TPAs) to provide tangible, on-ground support to policyholders navigating hospital admissions.

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IRDAI Grants Licence to Prudential HCL – India’s Standalone Health Insurance Market Gets a New Player

Health Insurance /

The IRDAI has granted the final Certificate of Registration (R3) to Prudential HCL Health Insurance Ltd to commence standalone health insurance operations in India. Prudential HCL Health Insurance is expected to begin rolling out its product portfolio after obtaining product-specific approvals from IRDAI. The company is also likely to focus on expanding its distribution network, empanelling hospitals for cashless claims and introducing wellness-focused health insurance solutions for retail and corporate customers.

Industry experts expect the new entrant to strengthen competition through digital-first offerings, customer-centric products and technology-driven underwriting, particularly as healthcare costs continue to rise and health insurance penetration remains relatively low in India.

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How to Cancel Health Insurance Policy and Get a Refund

Health Insurance /

Here is complete information on steps on how to cancel health insurance policy, refund process, deductions and FAQs. Simplify the task for you to be able to cancel your health insurance. To cancel health insurance policy and obtaining a refund may seem like a complex process. However, understanding the process can simplify the task for you to be able to cancel your insurance.

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Will ‘Sabse Pehle Life Insurance’ Campaign get attention?

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The insurance industry has launched a similar initiative called “Sabse Pehle Life Insurance” aiming to boost life insurance penetration in India. The Life Insurance Council announced this campaign to enhance awareness and help people understand the importance of life insurance. The campaign provides an opportunity to distinguish between pure protection products and protection-cum-investment products.

#LifeInsuranceCouncil #Campaign #InsuranceAwareness

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Risk Management in Health Insurance – The Way Forward

Health Insurance /

Risk Management in health care and health insurance plays a seminal role in protecting the interest of policyholder, distribution and of course companies itself. It is imperative that in the health care or health insurance organisation it should have qualified risk managers to identify, assess, develop, implement and monitor the risk management process.

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How Network and Non-Network Hospitals Affect Your Health Claim

Health Insurance /

When you purchase a comprehensive health insurance plan, the insurer provides a list of network hospitals. The pandemic has highlighted the inevitability of uncertainties in our lives, showing that everyone, regardless of age, is vulnerable to serious health issues. This realization underscores the importance of having a health insurance policy and understanding the roles of network and non-network hospitals in settling claims. Know how it affects your health claims experience.

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