Page 42 - Insurance Times December 2022

providers, said Anil Kumar Aggarwal, MD and CEO of Shriram unique offerings and services to create a distinct value
General Insurance. proposition for their customers, according to industry
participants.
Most industry players expect atleast a short-term hit on the
Even, aggregators go beyond pure online intermediation and
business of private aggregators, especially in straightline
are involved in physical intervention with prospective
products at the lower end of the spectrum such as term
customers, which may not be true under Bima Sugam at
products, motor and health covers, which could in turn see
this stage, said Ramandeep Singh Sahni, CFO of Bajaj Allianz
more direct sales.
General Insurance.
Others though believe that private aggregators have the
"Customers from rural India may still like to go for the
'first mover advantage' and have built customer-friendly and
traditional approach and thus the insurance aggregators
seamless on-boarding models--something which regular
may aggressively start exploring these markets," said
users might not want to give up.
Sudhish Ramteke, head - Property and Engineering at Anand
Rathi Insurance Brokers, adding that increased competition
More flexibility may lead to improved services from aggregators, agents
Further, with IRDAI proposing more flexibility and insurtech and brokers resulting in increased customer satisfaction.
solutions, aggregators may be nudged to look at more (Source : Business Line)

Collect data of health professionals from repository: IRDAI to insurers

The Insurance Regulatory and Development Authority of This HPID serves as a unique ID to the medical practitioners
India (IRDAI) has advised insurance companies to capture to enable connection with all stakeholders of the healthcare
the identity (ID) of medical practitioners from a repository ecosystem. “The potential of the mandate is immense. I see
for verification while issuing or renewing health policies. The three major benefits from this. First, the availability of a
new system is expected to enable seamless, cashless country-wide vetted repository of healthcare practitioners
functioning of outpatient treatment (OPD) across the for insurers and TPAs to leverage and build on their network
country. strength. Second, the enormous reach of Ayushman Bharat
Digital Mission,” said Dr Vijay Sankaran, SVP and Chief
According to IRDAI, insurers can validate their ID from the
Medical Officer at MediAssist.
Healthcare Professional Registry (HPR), a comprehensive
repository of registered and verified practitioners of As Ayushman Bharat Digital Mission manages to reach every
healthcare professionals delivering modern as well as nook and corner of the country, insurers and TPAs would now
traditional healthcare services across India. “This will enable be able to empanel verified doctors from far reaching places,
digitization and ease the process of buying and selling the he said. “This brings me to the third and foremost benefit.
Professional Indemnity policies and push for HPR registration We will now be able to have our cashless OPD network
among the healthcare professionals,” the regulator said. seamlessly spread across both metropolitans and small
towns. This is a welcome move and will result in better
This will also help in avoiding medical malpractices under
access to healthcare in the country,” Sankaran said. Health
professional indemnity cover.
insurance is now the largest segment in the non-life
General and health insurers offering health insurance
insurance sector with gross premium collection touching Rs
policies can also consider leveraging on the Health
51,361 crore during the seven-month period ended October
Professional Registry for building up the network of doctors,
2022, a growth of 21 per cent when compared to the
physicians or other healthcare professionals for providing
previous year.
OPD or other healthcare services, IRDAI said.
The Healthcare Professionals Registry will not replace
As part of Ayushman Bharat Digital Mission, the National
existing registration issued by respective councils. It will,
Health Authority (NHA) has incorporated a Healthcare
however, bring together data of those professionals from
Professional Registry (HPR). Under HPR, a healthcare
all States participating in ABDM on a digital platform. It will
professional ID (HPID) will be created via Aadhaar or other
provide additional digital services to the enrolled
KYC, along with the medical qualifications of the medical
professionals and will be their primary identifier under the
professional which is verified by their respective State
Ayushman Bharat Digital Mission. If professionals wish to
Medical Councils.
avail of these services, they may do so by enrolling in HPR.
38 December 2022 The Insurance Times