Brand Updates

 
IRDAI imposes Rs 1.11 crore penalty on Policybazaar

Thursday, August 29, 2019, 3:22 PM

IRDAI imposes Rs 1.11 crore penalty on Policybazaar

The insurance regulator has imposed a Rs 1.11 crore penalty on web aggregator Policybazaar for violation of regulations. Insurance Regulatory and Development Authority of India (IRDAI) said Policybazaar entered into a partnership with a non-insurance entity called 'Indian Health Organization by Aetna' (IHO) and offered incentives to its customers in violation of regulations. IRDAI said incentives included complimentary wellness benefits for all new eligible customers and covered five OPD consultations, unlimited telemedicine consultations, unlimited second opinion services, as well as pharmacy discounts. Further, the web aggregator also displayed the services offered by IHO on its website. This is a violation of regulations as these entities are not allowed to advertise products and services of other entities.

Blog

 
Health insurance you buy online might be fake?

Wednesday, August 21, 2019, 5:20 PM

Health insurance you buy online might be fake?

Health insurance you buy online might be fake? As medical expenses are increasing each day; it is very important to avail a health insurance plan. ...

Blog

 
Health Credit Card For Medical Emergency

Monday, August 12, 2019, 4:04 PM

Health Credit Card For Medical Emergency

Health Credit Card For Medical Emergency Life is uncertain and you never know what happens tomorrow. People who are healthy today might fall ill to ...

Brand Updates

 
ICICI Lombard using AI for fraud detection

Wednesday, August 7, 2019, 11:47 AM

ICICI Lombard using AI for fraud detection

Private sector insurer ICICI Lombard is using artificial intelligence (AI) and machine learning to not only improve claims processing and settlement but also to detect frauds in segments such as motor and health insurance. “We use machine learning to figure out when the surveyor is assessing motor claims to see which parts are outliers. Auto parts are priced differently across the country, but in case some garage charges very high, the algorithm can throw it up. It shows anything which is 5% too high or too low as an outlier,” Girish Nayak, Chief of Customer Service, Operations and Technology said. Similarly, in the case of medical claims, the insurer is using machine learning AI to check if a hospital may be sending claims for a particular illness at a particular price. “In such cases, you know there is something wrong and you send someone to check it. This can increase efficiency and help detect frauds better,” Nayak said.

Blog

 
What is Co-Pay in a Health Insurance Policy?

Wednesday, July 10, 2019, 5:43 PM

What is Co-Pay in a Health Insurance Policy?

What is Co-Pay in a Health Insurance Policy? Hospitalization costs in India are rising each year. When compared to the last 10 years, you can see a ...

Blog

 
Cashless vs Reimbursement Claims in Health Insurance

Saturday, July 6, 2019, 6:31 PM

Cashless vs Reimbursement Claims in Health Insurance

Cashless vs Reimbursement Claims in Health Insurance Availing health insurance plan is a very imp ...

Blog

 
Don't Ignore These While Availing Health Insurance

Saturday, July 6, 2019, 11:34 AM

Don't Ignore These While Availing Health Insurance

Don't Ignore these While Availing Health Insurance Life is uncertain and you never know what ...

Blog

 
How not to get cheated while claiming health insurance?

Thursday, July 4, 2019, 7:04 PM

How not to get cheated while claiming health insurance?

How not to get cheated while claiming health insurance? As medical expenses rise each day, it is ...

Blog

 
Why the Waiting Period in Health Insurance plan was Introduced?

Wednesday, July 3, 2019, 6:59 PM

Why the Waiting Period in Health Insurance plan was Introduced?

Why the waiting period in Health Insurance plan was Introduced? As hospitalized expenses rise eac ...

Blog

 
Will hospitals hike the bill if you have Health Insurance?

Wednesday, July 3, 2019, 5:54 PM

Will hospitals hike the bill if you have Health Insurance?

Will hospitals hike the bill if you have Health Insurance? Whenever you visit a hospital for trea ...

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