Page 4 - Life Insurance Today FEBRUARY 2016

P. 4

Contents&Focus

Editorial 53 Low-income households are
vulnerable to risks and eco-
nomic shocks. One way for the

Health cover & care as the ingredient for poor to protect their health is

successful micro-insurance products in India through insurance. By helping low-

- Anabil Bhattacharya 5 income households to manage their

health risks, micro-insurance can as-

Bancassurance in India and Digitalization sist them to maintain a sense of fi-
- Mrs. P. Srilatha nancial confidence even in the face of
19 significant vulnerability. If govern-

ments, donors, development agen-

Smart Swadhan Plus cies and others working for the wel-
from SBI Life Insurance 25 fare of the poorer community are

serious about combating their health

health related insurance has to be

ICICI Pru iProtect Smart one of the weapons in their arsenal.

from ICICI Prudential Life Insurance 1927
Digitalization is the use of
digital technologies to

IRDAI Circular 28 change a business model

and provide new revenue and

value-producing opportunities; it is

Insurers negotiate with hospitals to the process of moving to a digital

bring down rates 31 business. Through digitalization, a

company's digitized resources

Five steps to the right Health Insurance (such as online channels, machines
32 equipped with digital sensors,

cloud-based software) are trans-

Important Insurance Contacts formed into new sources of rev-
33 enue and operational gains.

Statistics 3134 Even as healthcare costs
LIC News keep rising year after year,
Pvt. Life News health insurers have man-
IRDA News 36 aged to bring down medical infla-
Glossary & Poll
tion rates by half on policies settled
via the cashless route. It has
38 achieved this through negotiating
predefined rates with hospitals on
major surgical procedures. For in-
40 stance, for appendicitis surgery, if
the rack rate is about Rs. 30,000, a
patient with a cashless package
42 could be charged Rs. 25,000.

4 February 2016 Life Insurance Today

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