Quick Summary Table Feature Previous State (Pre-2025 Regulations) New State (Post-2025 Regulations) Portability Often challenging or limited Mandated seamless portability for individual covers upon exit Standardization of Terms Varied definitions across insurers Standardized definitions for common medical terms and procedures Claim Settlement Timelines Varied, sometimes protracted Stricter, transparent timelines for claim processing and payout Transparency […]
Group Health Insurance Plans for Bank Account Holders
Bank account holders in India often seek ways to secure their financial well-being and protect themselves and their families from unforeseen medical expenses. In response to this need, group health insurance has emerged as a valuable offering, providing comprehensive coverage and peace of mind. This article aims to shed light on the benefits, eligibility criteria, […]
Video- Why one needs Group Health insurance?
Why one needs Group Health insurance? This short video blog article aims to explain the importance of having a Group Insurance policy for employees’ and employers’ perspectives, shedding light on the benefits and features of such policies. If you require guidance in selecting the right group health coverage, we can assist you with the same. […]
Why are Insurtech platforms changing the Insurance Landscape?
The insurance industry is undergoing a major rethink. With the rise of digitalization and innovation, there has been a steady growth in new technologies, products, and services that are revolutionizing the industry. Consequently, a new industry has come into being: Insurtech. The advancement of tech in the insurance sector has been remarkable. Insurtech is making […]
Are Full-Stack Digital Insurers Truly Disruptive?
Full-Stack Digital Insurers are insurance firms that are fully licensed and controlled by a regulatory authority. At the outset, not every InsureTech firm is eager to collaborate with incumbents. Many platforms highlighted in the ecosystem are actively attempting to outmatch incumbents. But whether such platforms will actually succeed is yet to be seen. This viewpoint […]
Can you cancel your policy and seek refund during the policy period?
You are allowed to cancel your policy anytime during the policy period provided there is no settled or outstanding claim in the policy. All you need to do is to send a written request to the insurer for cancellation along with the reason for cancellation. The insurer accepts the following reasons for policy cancellation – […]
What are the limitations of a Group Health Insurance for an employee?
Though group health insurance policies are extremely flexible by design in terms of enrollment and operability, they come with their own set of limitations. Below we highlight a few limitations of the group health insurance program – The employee has little or no control over their individual coverage. Designed the benefit structure of the group […]
Types of endorsement scales in group medical insurances
As an organization contemplating group medical coverage (GMC), you might have encountered different types of endorsement methods. This post helps to make sense of these endorsement methods. Insurers frequently use two types of endorsements methods in the case of group medical insurance: Pro-rata As the name suggests, pro-rata means proportionate. In this endorsement method, the […]
Why do I need a group health insurance policy?
A group health insurance policy covers a group of individuals under a single plan. The policy features affordable premiums and provides good health coverage to the insured members of the group. Corporations usually opt for a group medical insurance policy as an employee welfare benefit. The policy covers the employees of the organization for their […]
Importance of Group Health insurance – Infographic
These days more and more companies have become employee-centric and group health insurance has become one of the most preferred benefits to attract and retain talented employees. Businesses big and small have recognized the importance of Group Health insurance policy for employees benefit option. Group health insurance policy or Group Medical Insurance can provide a number of […]