General Insurers are aiming to end Reimbursement claims in Health and Motor insurance in the near future. With both Bajaj Allianz and ICICI LOMBARD GIC LTD launching their Anywhere Cashless provisions for Health claims, the race to end Reimbursement claims has begun.
Tapan Singhel, General Insurance council chairman, while speaking in a summit in Hyderabad said "The idea is that there will be no reimbursement claims to be looked at, everything has to be cashless from customers perspective".
Reimbursement claims in Health and Motor remain challenging for insurers on account of lack of control in terms of cost, TAT of job completion/invoicing and overall customer experience. To end reimbursement health claims, standardization of cost of healthcare will be a challenging task for insurers.
Said project is part of the "Health Insurance Vision, 2030". Adoption of Anywhere Cashless mechanisms will positively impact the overall claims settlement TAT of insurers.
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