BS RAWAT
With the spread of Covid-19 continuing, the Insurance Regulatory and Development Authority of India (IRDAI) has asked the Health Insurance and General Insurance companies to focus on launching disease specific policies to increase the customer base.

Speaking at a FICCI Health Insurance Conference, Ms TL Alamelu, Member, IRDAI, said, “Health insurance companies should focus on developing disease specific policies to cover a larger population rather than focusing only on healthy individuals.”

“During this time, the number of grievances related to Covid policies are very less and resolutions are also positive by the companies. Health insurance companies should extend this mechanism to all other types of health insurance policies as well. This is the only way trust can be built among the public,” she added.

Emphasizing the need for more awareness in the health insurance sector, she said, “It is better to have minimal health insurance with all the exclusions, than a situation of no health insurance.”

Prasun Sikdar, Co-Chair, FICCI Health Insurance Committee, discussed the shifting paradigms of business, including changes in customer behaviour and mindset in the midst of Covid- 19 outbreak.

He mentioned that today health insurance is no longer a 'priority' but a 'necessity' for people. He talked about making health insurance affordable, predictable and simple in order to bridge the gap between customer expectations and experience.