Religare Health Insurance Company Ltd. announced that they have received the R2 license from the insurance regulator IRDA. The R2 license is one step before the final approval after which the company will roll out operations and distribution network.

Religare Enterprises Limited (REL) which is a leading financial services group announced its foray into the health insurance industry by setting up Religare Health. The company has already established a strong foothold in the life insurance...  Read More »

It will now be easy for customers to choose a health insurance policy because soon insurers will have to offer standard communication, policy tenures, exclusions and few other things. IRDA is coming out with some good recommendations that will be very useful to the customers while choosing a health insurance policy.

Earlier this year, the insurance regulator set up a Health Insurance Forum which will assist IRDA in creating standard rules and processes in the health insurance industry. On...  Read More »

HDFC ERGO General Insurance, one of the leading non-life insurance companies in the Indian market has set up an in-house health claim servicing department. Health Claim Services (HCS) by HDFC Ergo has been introduced with the idea of providing a single window assistance to all their health insurance policyholders for all health care related services.

The claim settlement process in a general insurance company is the moment of truth for the customer. In order to achieve cost efficiencies, many...  Read More »

The budget of 2012-13 has introduced small but useful takeaways for the health insurance sector. Some of the handy features are –
1. Tax-exemption up to Rs.5000/- for health check ups
2. Age eligibility for Senior citizens is lowered down to 60 years (from 65 years)
3. Tax deduction limit increased up to Rs.20,000 for senior citizens



Health Check ups are Tax-free
Any amount spent on health check ups can also be claimed for tax exemption up to Rs.5,000 every year. Earlier only the...  Read More »

Apollo Munich Health Insurance (AMHI), one of India’s standalone health insurance companies has entered into a multi-year partnership with former Indian cricketer and our very own Dada – Sourav Ganguly



Sourav Ganguly will be the brand ambassador for Apollo Munich and be part of the marketing and promotional initiatives of the company. Ganguly who is regarded as one of India’s most successful captains will be seen promoting the brand Apollo Munich in the forthcoming Indian Premier League...  Read More »

The Delhi Consumer Forum has directed ICICI Lombard General Insurance company to pay a compensation of Rs.50,000 as damages for harassment caused to its policyholder during the cashless claim process.

This incident comes as a big blow to India’s leading private non-life insurance company because the company has worked hard over the years to streamline its claim processes, meet customer expectations and retain the No.1 position. Mr. Satya Prakash who holds the ICICI Lombard health insurance...  Read More »

The insurance regulator has release an Exposure Draft which proposes providing health insurance cover to those living with HIV and to individuals like doctors and nurses who work closely with HIV patients. This has been done after various representations have been received by IRDA from stakeholders including the government authorities.

Cigna, a global health service company and TTK Group, an Indian business conglomerate, announced their health insurance joint venture.

With only around 2.2% of the population covered under private health insurance, Indian markets hold tremendous potential for players that can cater to the growing needs of this large population.

The joint venture between the two companies is named Cigna TTK and it will be headquartered in Mumbai. Sandeep Patel, Managing Director of Cigna Health Solutions...  Read More »

Monoline insurer, Apollo Munich has launched a new health insurance policy aptly named “Optima Restore”.

Optima Restore is a truly unique health insurance policy with 2 unbelievable benefits:

1. Restore Benefit - If you exhaust your insurance amount in the middle of the year, your insurance amount is restored without a charge

2. Multiplier Benefit - If you have a claim-free year, then your insurance cover increases by 50% in the first year and doubles in the next year, at no extra...  Read More »