The health insurance consultative committee will counsel methods to enhance the penetration of health insurance within the nation together with figuring out points and challenges within the worth chain and the way to overcome them. They will even establish challenges in finishing up the health insurance business easily and make suggestions to facilitate ease of doing business.
IRDAI has requested the committee to make suggestions concerning product designs together with a common customary product that’s fundamental and easy. The committee will even make suggestions concerning standardisation of procedures amongst suppliers together with for seize, collation, and evaluation of information.
“The panel will make recommendations to put in place systems for servicing health insurance that can plug into the e-platform envisaged by IRDAI,” the regulator mentioned.
It will even establish issues relating to policyholder servicing in addition to consciousness and make suggestions to deal with them.
The committee will even advocate some other matter which might assist in the expansion of insurance penetration and deepen health insurance inclusion, the regulator mentioned.
The committee has been constituted for a interval of two years, the regulator talked about. The committee shall be led by Rakesh Joshi, a member of IRDAI. It will even have representatives from the healthcare and insurance industries together with third-party directors (TPA). From the healthcare trade, Devi Prasad Shetty, chairman of Narayana Health; Naresh Trehan, chairman and managing director (MD) of Medanta Heart Institute; Alexander Thomas, nationwide president of Association of Healthcare Providers India; Arati Verma, senior vp of Max Healthcare, and Ajay Nair shall be a part of this consultative committee.
From the insurance trade, Neerja Kapur, chairman, and MD of New India Assurance; Bhargav Dasgupta, MD, and CEO of ICICI Lombard General Insurance, Mayank Bathwal, CEO of Aditya Birla Health Insurance, and Vibha Padalkar, MD and CEO of HDFC Life, shall be a part of the committee. The committee will even have representatives from the third-party directors (TPA) — Nayan Shah, CEO, of Paramount Health Services & Insurance TPA, and Vikram Chhatwal, CEO, Medi-Assist Insurance as members.
“It is necessary for every family in the country to have a health insurance cover. The various elements in the health insurance value chain are required to be visited periodically in order to provide an enabling environment to achieve the goal of universalisation of health insurance in the country,” the regulator mentioned.
