National E- Summit
Health Insurance Under Covid Attack
Friday, 11th September 2020 (11:00 AM – 02:00 PM)
The world is reeling under severe disruption caused by COVID-19 which has affected many businesses and people globally. The concern about health and life with the pandemic looming over us with the threat of expenses shooting up is quite natural. The insurance sector is also facing the impact of a regressing economy due to Corona virus and the need to come up with products to suit the demand with COVID-19 specific policies particularly for health insurance product because in India, the challenge that the health insurance sector faces is the unregulated pricing by hospitals and medical networks. Patients who have health insurance are charged higher for the same service. This bleeds the health insurance sector and does not allow it to bring down the costs thereby passing the benefits to the customers as lower premiums. There should be guidelines that restrict different pricing for treatments undertaken.
Furthermore, in one hand overall cost of corona virus treatment are increasing rapidly due to increase in cost of consumables, patient distancing in hospitals, etc and other hand the requirement of adequate additional capital is increasing due to rising of Medi claim and renewals delayed in the health insurance sectors. This will negatively impact solvency of policyholders and insurance companies. Therefore, Indian insurers need to prepare strategies and action plans for business continuity to ensure enhanced protection to the policyholders by developing the low-cost insurance product. Due to the stress experienced by the economy, sufficiency of capital and liquidity position of the insurers may be adversely impacted, all the insurers need to guard against the same. However, as protection against the raging COVID pandemic, insurance regulator, IRDAI, had directed all general and health insurers, on 26 June 2020, to come up with two standard COVID - special plans—COVID Kavach and COVID Rakshak—by 10 July.
In order to continue to this dialogue, ASSOCHAM National Council for Insurance is organizing a National E-Summit on Health Insurance Under COVID Attack the aim to discuss the opportunity and the various issues being faced by the Health Insurance sector and policyholders during the COVID attack time and also strategize to deal with the after effects of a post lock down and its impact on the Indian economy by COVID-19 and lock down.
Key Areas of Discussion
- Product innovation in health insurance sector
- Guidelines that restrict different pricing for treatments undertaken.
- Claim payout and liquidity.
- Unveiling New Retail COVID products.
- Increase the penetration of insurance.
- Role of digital health insurance.
Eminent Speakers Invited
- Shri Saurabh Mishra, Joint Secretary, Department of Financial Services, Government of India*.
- Mrs T L Alamelu, Member (Non Life), Insurance Regulatory Development Authority of India
- Shri G Srinivasan, Chairman, ASSOCHAM National Council for Insurance and Director, National Insurance Academy
- Shri Anuj Mathur, Co-Chairman, ASSOCHAM National Council for Insurance and MD & CEO, Canara HSBC OBC Life Insurance
- Shri Yashish Dahiya, Co-Chairman, ASSOCHAM National Council for Insurance and Co-founder & CEO, Policy Bazaar
- Shri Mayank Bathwal, MD & CEO, Aditya Birla Health Insurance co Ltd
- Shri R K Nair, Former Member,Insurance Regulatory Development Authority of India & Director, ICICI Bank Limited
- Dr S Prakash, Managing Director, Star Health and Allied services Ltd
- Shri Ashvin Parekh, Managing Partner, Ashvin Parekh Advisory Services LLP
- Ms Bharathi G, Chief Executive Officer, Family Health Plan Insurance TPA Ltd
- Shri Vijay Kumar, CEO & Principal Officer, Go Digit General Insurance
- Shri Sandeep Dadia,CEO & Prinicpal Officer, Aditya Birla Health Insurance Co ltd.
In this connection, on behalf of the ASSOCHAM National Council for Insurance, we cordially invite you to attend this timely and meaningful the , ASSOCHAM National E-Summit on Health Insurance Under COVID Attack scheduled to be held on Friday, 11th September 2020 (11:00 AM To 02:00PM)
Please click on the following link to register:
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