Insurance Information Bureau to maintain health insurance grid

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Insurance Information Bureau to maintain health insurance grid
HYDERABAD: Insurance Information Bureau (IIB), an independent body created by the Insurance Regulatory and Development Authority (IRDA), would be maintaining a health insurance grid connecting TPAs, insurers and hospitals.

TS Vijayan, Chairman, IRDA, said that IIB has already launched a pilot hospital unique ID master programme by enlisting the hospitals in 'the preferred provider network' serving the health insurance sector.

IIB functions as a single window analytics organisation for the entire data requirements of the insurance sector. The aim of the initiative is to help the health insurance sector to come out with a system of insurance claims management with transparency in treatment costs and efficient pricing of health insurance products, Vijayan said after inaugurating IIB's new premises here.

On the roadmap for the insurance sector, Vijayan said the growth in premium is estimated at Rs 4lakh crore constituting both life and non-life during current fiscal.

While the rate of growth in non-life is expected to be about 16 to 17 per cent, it could be less than 10 per cent in life segment, The IRDA chief said.

PTI

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