Insurance Newsletter – January 23 to 27, 2014

A few insurance companies are working on the concept of cashless OPD (outpatient department), according to a media report.

January 25, 2014 12:08 IST | India Infoline News Service
Top Stories

Insurers working on concept of cashless OPD

A few insurance companies are working on the concept of cashless OPD (outpatient department), according to a media report.

Cashless OPD means that the policyholders don’t have to pay anything when they visit a hospital which is covered by a health insurer.

Health insurers started covering outpatient treatment a few years back but through medical reimbursements. For instance: The policyholder underwent the treatment in a hospital and paid the bills and then claim the expenses through reimbursement... Read more

IRDA forms working panel to explore new distribution channels

The Insurance Regulatory and Development Authority (IRDA) on Thursday has formed a working group to explore the possibility of introducing an intermediary called Insurance Marketing Firm (IMF), in the sector.

The working group will also study the report of the Govardhan Committee on distribution channels, which was constituted in 2007, said IRDA member (distribution) DD Singh in an order issued on Thursday.

It will submit the recommendations by February 28.

The group will study the issue and recommend to the authority on requirement of capital, geographical spread within which the Insurance Marketing Firm can operate and distribution costs among other related aspects of the proposal.

Max Healthcare organises Continued Medical Education in Delhi

Max Healthcare - leading healthcare services provider of Delhi organized a CME (Continued Medical Education) on the theme ‘VTE Prophylaxis’ at Hotel Sheraton, Saket. The CME was conducted by the Department of Clinical Data Analysis (CDA) at Max Healthcare and highlighted the issue of prevention against Deep Vein Thrombosis which is many a time neglected in admitted patients globally and in India.
Commonly known as the ‘Economy Class Disease’, DVT can happen to anyone and everyone- from a patient with a broken leg to one admitted in the ICU to someone who has cancer to as common as someone travelling in a 15 hours flight. Yet, it remains to be one of the most underdiagnosed diseases in the world... Read more

Domestic News

IRDA opens office in New Delhi

The Insurance Regulatory and Development Authority (Irda) on Friday opened a regional office in New Delhi, upgrading its existing establishment.

The new office located at Parliament Street will focus on spreading consumer awareness and handling grievances. It will also provide support for inspection of insurance companies located in the northern region.

IRDA Chairman TS Vijayan inaugurated the office that will be headed by a joint director and have 10 other officers and employees... Read more

Max Life targets over 15% growth in new premium for 2013-14

Max Life Insurance on Wednesday said it is aiming for around 15% growth in new premium for 2013-14, according to a media report.

In the last three quarters, the private insurer had registered about 13% growth in business. In 2012-13 new premium income was close to Rs. 18 billion.

In H1 FY14, the company's profit before tax growth was 3% over the corresponding period of year before. The insurer would launch more products and currently has an active portfolio of 14 with the riders of three ULIPs, the report added.

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