Pliancy To Boost Health Insurance

While the importance of having a health insurance policy cannot be undermined, the fact that it comes with its fair share of drawbacks is a reality one has to face. Even after having a health insurance policy, a customer simply may not be happy with the services of the insurance company. Yes, it might come as a surprise, but a policyholder often faces challenges such as slow claim settlement process, low-quality services, increased premium and late reimbursements. In order to address such issues in a more effective manner, the Insurance Regulatory and Development Authority of India (IRDAI) introduced the concept of health insurance portability. The system allows a policyholder the option of porting his or her health insurance policy from one company to another without compromising on major benefits. Further explaining the concept, Anand Roy, Joint MD, Star Health and Allied Insurance...