As per a report from Avendus Capital, key catalysts for growth in the retail health segment would be low penetration of the healthcare insurance coupled with covid-19 led rise in awareness, product innovation and rising disposable income.
The increasing medical inflation has necessitated the need for an adequate sum insured in your health policy to battle multiple unexpected medical expenses within the same policy term.
In an interaction with Business Today Prasun Sikdar, MD and CEO, ManipalCigna Health Insurance talks about how the health insurance industry is shaping up post pandemic.
The insurer has also taken an important step by expanding the scope of ‘Family’ definition for their health indemnity products, to offer protection to members of the LGBTQIA+ community and members in a live-in relationship.
Hospitals offering cashless services had to also meet the pre-accreditation entry-level standards laid down by National Accreditation Board for Hospitals (NABH).
In our column Expert Speaks, S K Sethi, Director, Ria Insurance Brokers, talks about the difference between a personal health insurance and a corporate health insurance and whether the two can be used simultaneously.
The company said that it aims to leverage the expansive footprint and network of its parent company State Bank of India to further entrench health insurance penetration in Tier 3 and 4 markets across India.
The new health insurance policy, called Reliance Health Gain, claims to be both flexible and also customisable, allowing customers to choose features as per their need and pay only for those.
The report said that patients are quite prompt in informing the insurers about claims with most of them intimating the concerned insurance firms within a week of hospitalisation.
