Showing posts with label health insurance. Show all posts
Showing posts with label health insurance. Show all posts

Thursday, April 7, 2022

Employee wellness platform Nova Benefits aims to cover 10 mn lives by 2025

 

Nova Benefits, which represents considerable authority in corporate health care coverage, has said it plans to cover 10 million lives in India by 2025. Zeroed in on assisting organizations with representatives' wellbeing, Nova means to further develop medical coverage by encouraging prosperity in the working environment. It works with north of 250 organizations and covers bosses with groups as conservative as 10 representatives.

Nova Benefits started tasks in 2020, addressing the need of managers to track down the perfect medical coverage seller at the ideal cost. The organization offers a tech-based stage to assist organizations with observing the best representative wellbeing bundles including health care coverage, prosperity meetings, specialist conferences, emotional well-being advising and wellness memberships. The firm is supported by financial backers like Bessemer Venture Partners, SIG and AngelList Early-Stage Quant Fund.

The organization has uncovered the objective when the pandemic has framed different medical services necessities including those at the working environment and featured the requirement for prosperity conditions.

"The expect to cover 10 million lives by 2025 is equivalent to our central goal of building better and more joyful working environments," said Saransh Garg, CEO and fellow benefactor of Nova Benefits. "A complete wellbeing cover combined with sympathetic arrangements benefits workers as well as organizations excessively over the long haul."

Thursday, April 23, 2020

Quick approval, grace period: Medical insurance process eased amid Covid-19


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The COVID-19 pandemic has brought home the significance of health and life insurance like nothing else earlier. Even those who were blasé about these covers in the past are now looking to buy a new policy or want to enhance the sum insured on their existing ones. Meanwhile, the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing a slew of guidelines to health/general and life insurance companies aimed at easing matters for customers.
MEDICAL INSURANCE:
Pay health insurance premiums in instalments: Through a circular dated April 20, 2020, the regulator has permitted companies offering health insurance to allow customers to pay their premiums in instalments. With many customers expected to face financial hardships amid the lockdown, this step will ease customers’ burden. “It is an attempt to provide an affordable option to customers, and encourage more people to buy health insurance," says Prasun Sikdar, managing director and chief executive officer (CEO), ManipalCigna Health Insurance.
Some insurers will charge the same premium under all options. “The premium amount will remain the same irrespective of the mode of payment," says S. Prakash, managing director, Star Health and Allied Insurance. Brokers, however, inform that some companies may charge you an extra amount if you go for any option other than annual.
The burden of paying the premium does get eased in a frequent-payment option. “In some COVID-19 cases, treatment costs have gone as high as Rs 14-15 lakh due to accompanying complications. If the sum insured on your family floater is not adequate, use the monthly payment option to enhance your cover,” suggests Amit Chhabra, business head, health insurance, Policybazaar.com.