Page 11 - The Insurance Times February 2025

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Launch of 'Ultimate Care'
India on Track to Meet SDG Health Targets
India is making remarkable progress toward meeting its Sustainable Devel- by Care Health Insurance
opment Goals (SDG) for health, well ahead of the 2030 deadline. According Care Health Insurance recently
launched a flagship product called Ul-
to the government, initiatives like Ayushman Bharat and other health in-
timate Care, offering comprehensive
surance programs have played a crucial role in improving healthcare acces-
health coverage with unique rewards
sibility for millions. Ayushman Bharat, in particular, has extended financial
and features. The plan includes high-
protection to economically weaker sections, covering over 50 crore people sum insured options, wellness benefits,
under its ambit.
and cashless hospitalization across an
Health insurance has been pivotal in reducing out-of-pocket healthcare ex- extensive network of hospitals.
penses, which have historically burdened Indian families. The focus on uni- The emphasis on wellness rewards and
versal health coverage underscores the importance of public and private lifestyle benefits marks a shift toward
partnerships in creating an inclusive healthcare ecosystem. preventive healthcare. Policyholders
are incentivized to adopt healthier
1000 Insurance Companies Tech-Driven Transforma- lifestyles through regular health check-
ups and wellness programs, reflecting
in the Next Decade? tion of Health Insurance a growing focus on proactive health
At the World Economic Forum 2025 in The integration of technology into management in the insurance sector.
Davos, the CEO of Bajaj Allianz pre- health insurance is driving a shift to- Jharkhand's Health Insur-
dicted that India could see the emer- ward integrated ecosystems, combin-
gence of 1000 insurance companies ing insurance coverage with ance Scheme for State
within the next decade. This projection healthcare services, wellness pro- Employees
reflects the rapid growth of insurtech, grams, and digital tools. The Jharkhand government recently
microinsurance, and niche health insur- AI-powered platforms are enabling in- approved a comprehensive health insur-
ance providers. surers to offer personalized policies ance scheme for state employees and
based on individual health data, while pensioners. This initiative reflects the
Technology and regulatory support are
IoT devices and wearables are helping growing trend of state governments
driving this growth, enabling smaller
track fitness metrics, encouraging stepping in to ensure better healthcare
players to address underserved mar-
healthier behaviors. Blockchain is en- coverage for public servants. The
kets and offer customized solutions. hancing transparency and security in scheme provides financial protection
The health insurance sector is also see-
claims processing, ensuring faster and for medical treatments, covering both
ing increased adoption of artificial in- more reliable payouts. These advance- employees and their dependents. It is
telligence (AI), data analytics, and ments not only improve the efficiency a testament to how regional govern-
blockchain to enhance efficiency, re- of insurance providers but also em- ments are prioritizing health security
duce fraud, and improve customer ex- power policyholders to take greater for their workforce, serving as a model
periences. control of their health journeys. for other states to follow.

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