"In insurance
industry, number of grievances received or number of frauds committed is an
indicator of growth trend of particular segment. In entire insurance sector, 90
per cent of frauds and grievances come from health policies," said Niraj Kumar,
General Manager, Oriental Insurance Company.
He was addressing a
seminar at the Amity University on Health Insurance on the24th of February.
As an example he said
that if one had to draw two curves -then the growth curve was ahead of the
learning curve. This, he said showed the industry's focus was on marketing
health policies, which had to change to, first bridge the level of trust
between the insured and the insurer.
The Managing Director
of a consulting firm - Mililman- said, as the health industry in India was
growing greatly, India would have to be very careful. The American health
industry was an example where the growth had now become stagnant.
NeerajBasur, Chief
Financial Officer, Max Bupa Insurance Company said that there is lack of trust
level among hospitals, third party administrators, insurance companies and
customers.
The trust has to be
built up - keeping in mind that the customer's needs are requisite to the
growth of this industry.
References :
Hannah Punitha (IRDA
Licence Number: 2710062)
R R Grover, Noida February 2013
Source: Medindia
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