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A Health Insurance Forum to be set up by the Insurance Regulator

Last Updated: Feb 03, 2012 | 1679 Views
The insurance regulator in India, IRDA has passed an order to set up a Health InsuranceIRDA Logo Forum for effective dialogues between hospitals, insurers, TPAs and end consumers. This forum would be a consultative body which would help the Insurance Regulator evolve regulatory changes which would be beneficial to all stakeholders in the health insurance segment.
Health insurance segment has been witnessing good growth and we have seen the emergence of stand-alone health insurance companies in the last few years, namely Star Health Insurance, Max Bupa and Apollo Munich.
The Health Insurance Forum would be expected to perform the following functions:
  • To aid, advise and assist IRDA in evolving regulations relating to health insurance in India
  • To facilitate the creation and adoption of standard processes in the health insurance industry
  • To help IRDA in collecting, maintaining and disseminating data required for efficient conduct of health insurance business
  • To act as a consultative forum between insurance companies and other stakeholders

The new Health Insurance Forum would have representatives from all stakeholders in the health insurance segment - insurance companies, end consumer, hospitals, TPAs, IRDA, hospitals and many more. The forum is expected to meet at least twice in a year. 

Given the importance and the growth being seen in this segment, this is indeed a very postive move by the Regulator.

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