The Insurance Regulatory and Development Authority of India (IRDAI) is set to roll out a 100 per cent cashless health insurance claim settlement system nationwide. IRDAI Chairman Debasish Panda emphasised the regulator’s commitment to this effort during the global fintech festival in September 2023. Currently, insurers deduct a certain percentage from the total billing for consumables and other charges, so it is not a 100 per cent cashless system.