Page 50 - Insurance Times July 2024

treatments hospitals are adopting. "Health outcomes are While the master circular urges insurers to offer a wide
improved by including coverage for procedures such as variety of policies, customers on their part must make
robotic surgeries, oral chemotherapy, and stem cell appropriate choices. "Consider your family conditions and
therapy," says Rakesh Jain, CEO, Reliance General choose insurance features such as OPD (out-patient
Insurance. department) coverage, maternity benefits (if planning for a
family), global coverage for frequent travellers, and modern
While many policies cover high-tech treatment, some have treatment coverage," says Jain.
sub-limits for them. Jain says customers should review their
policy carefully and remain informed about the specifics of Utilise the enhancement in free-look period from 15 to 30
the coverage offered by it. If your policy does not fully cover days. "Read the policy document thoroughly, focusing on
such treatments, consider porting. terms and conditions, exclusion, waiting periods, and
coverage limits to ensure the policy meets your needs," says
Points customers must pay heed to Yadav.

While the master circular sets many laudable goals, like
making policies more inclusive, customers need to watch out Goel suggests not buying policies from insurers who do not
for a new things. For many-senior citizens, those with pre- offer no-claim bonuses as these bonuses are useful in
existing diseases (PEDs), etc. - while policies may be combating medical inflation.
available, they may be expensive. Purchase health insurance "Avoid plans with sub-limits related to modern treatments,
at an early age, before you incur a disease, as this makes
room categories, or diseases," says Singhal. (Business
access to health insurance difficult and raises the premium
Standard)
significantly.
PRESS RELEASE

Royal Sundaram General Insurance integrates with India's largest

ticketing site, IRCTC, through the INSILLION Insurtech platform to

issue 500k polices per day

INSILLION, a leading Insurtech SaaS platform, has announced a significant partnership that will transform the way
travel insurance is delivered. Royal Sundaram General Insurance (RSGI), a prominent Property & Casualty insurer
based in India, has integrated with the Indian Railway Catering and Tourism Corporation (IRCTC) to enable embedded
Group Personal Accident (GPA) policies to be offered alongside e-ticket purchases through INSILLION's API platform.
IRCTC is a public sector enterprise under the Ministry of Railways in India and operates one of the largest travel
websites in the Asia-Pacific region. It has over 12 million unique visitors per month, making it one of India's most
visited websites. In a notable achievement, during a high-traffic day, RSGI has issued 6,40,000 policies covering over
1.4 million passengers, with a peak hourly rate of 30 policies per second during the Tatkal rush period.

To meet the stringent requirements of a highly scalable solution, RSGI partnered with INSILLION to rapidly launch an
embedded insurance offering leveraging their API platform and cloud architecture.
Sai Lakshmidar, Chief Product Officer at INSILLION, highlighted the technical complexity, stating, "To deliver a seam-
less user experience, the underlying technology architecture must be robust. Scaling to meet extreme demand was
the crucial challenge that required rethinking our entire approach. Enabling this integration with RSGI was an invalu-
able learning experience in optimising for high-availability through Amazon Web Services Cloud to embed fixed-ben-
efit products."
Dheepak Rajoo, Chief Information Officer at RSGI, summed it up perfectly. He said, "Our collaboration with INSILLION
allowed us to successfully implement a highly scalable solution with minimal investment, empowering us to capitalise
on the embedded insurance opportunity through the IRCTC portal."

The Insurance Times July 2024 45