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Keep it simple, compete on settling claims: IRDAI to insurers

Chennai: Citing the 4.5 lakh lives covered under the stardardised insurance policy like Corona Kavach within 20 days of its launch, simple and standardised health insurance products will grow the health insurance segment, said Subhash Chandra Khuntia, Chairman, Insurance Regulatory and Development Authority of India (IRDAI).

Khuntia also urged insurers to come out with disease specific insurance products that will enable creation of an eco-system for improving the health of policy holders.

He was speaking at the virtual seminar ‘India Health Insurance – Fast Forward’ organised by Confederation Indian Industry-Southern Region.

(SOURCE- The Economic Times, BSFI; August 15, 2020)

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