Health Insurance Sector likely to get a third party administrator from the year FY2017. The Health Insurance TPA of India will provide the services of call centres, customer service and grievance management, pre-authorisation, and claim processing. It would be involved in providing network empanelment, verification and investigation and pre-policy health check-up. The firm would also provide services to support all types of health insurance policies – individual, family floater, group covers, mass schemes, indemnity, fixed benefit, among others.
The TPA is set up as a venture of National Insurance Company, New India Assurance Company, United Insurance Company, Oriental Insurance Company, and General Insurance Corporation of India which will have 23.75% stake in the venture. TPA will reduce and prohibit large-scale leakages while settling insurance claims in the health segment. As of January 2016, it is running trials and has received approval from IRDA.
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