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Online sales of health insurance to grow 15-20 times by 2020: Study

Smart cards & unique patient identifier for policyholders to drive digitisation of health insurance in India, according to FICCI-QuintilesIMS study

BS B2B Bureau  |  New Delhi 

Health Insurance

and IT are changing the landscape of and ecosystem in the country. PM’s initiative of ‘Digital India’ has given a further boost to that will help in the adoption of Electronic Health Records (EHR) and Health Information Systems in the sector, according to FICCI-study.

This will enable seamless interoperability of data that will facilitate patient safety and lead to better patient outcomes. With the sector poised for major growth in the coming decade, demand for more efficient systems of data storage and transfer is set to increase.

As per the study, titled ‘in digital India’, unique identification of stakeholders within the ecosystem such as providers, diagnostic centers and doctors will play a critical role in the growth of of in India. The study estimated online sales of to grow 15-20 times by 2020.

The FICCI-study was commissioned in order to identify the appropriate roadmap for all stakeholders involved across industry. 

is an important component of the delivery ecosystem wherein becomes mandatory for enhancing the overall patient care and experience. At present only one-fifth of the population is covered with some form of health insurance. This suggests that huge potential for growth is available for the insurance industry. presents many opportunities for health insurers. For instance, it helps in expanding reach, improves market share, and helps in providing additional value to customers,” stated G Srinivasan, chair, Health, Insurance Committee & CMD, The New India Assurance.

“In India, insurers have taken steps to incorporate into their business models, but adoption has been sluggish due to many challenges in the path. Through this study, our effort has been to draw out a realistic phase-wise approach wherein all stakeholders could collaborate to counter the challenges faced and implement innovative technologies to create a strong digital ecosystem for India,” explained Amit Mookim, general manager, South Asia, QuintilesIMS.

He added, “is an important component of the delivery ecosystem wherein becomes mandatory for enhancing the overall patient care and experience. At present only one-fifth of the population is covered with some form of health insurance. This suggests that huge potential for growth is available for the insurance industry. presents many opportunities for health insurers. For instance, it helps in expanding reach, improves market share, and helps in providing additional value to customers.”

According to Malti Jaisawal, COO, TPA of India, most of the digital initiatives across market are being undertaken across sales and marketing and policy administration as it requires low degree of support from stakeholders across the value chain. For example, in online sale of policies, other stakeholders like providers, doctors and TPAs have minimal involvement. However, she added, cross stakeholder collaboration would be critical in most of the other initiatives to drive across health insurance.

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Online sales of health insurance to grow 15-20 times by 2020: Study

Smart cards & unique patient identifier for policyholders to drive digitisation of health insurance in India, according to FICCI-QuintilesIMS study

Smart cards & unique patient identifier for policyholders to drive digitisation of health insurance in India, according to FICCI-QuintilesIMS study
and IT are changing the landscape of and ecosystem in the country. PM’s initiative of ‘Digital India’ has given a further boost to that will help in the adoption of Electronic Health Records (EHR) and Health Information Systems in the sector, according to FICCI-study.

This will enable seamless interoperability of data that will facilitate patient safety and lead to better patient outcomes. With the sector poised for major growth in the coming decade, demand for more efficient systems of data storage and transfer is set to increase.

As per the study, titled ‘in digital India’, unique identification of stakeholders within the ecosystem such as providers, diagnostic centers and doctors will play a critical role in the growth of of in India. The study estimated online sales of to grow 15-20 times by 2020.

The FICCI-study was commissioned in order to identify the appropriate roadmap for all stakeholders involved across industry. 

is an important component of the delivery ecosystem wherein becomes mandatory for enhancing the overall patient care and experience. At present only one-fifth of the population is covered with some form of health insurance. This suggests that huge potential for growth is available for the insurance industry. presents many opportunities for health insurers. For instance, it helps in expanding reach, improves market share, and helps in providing additional value to customers,” stated G Srinivasan, chair, Health, Insurance Committee & CMD, The New India Assurance.

“In India, insurers have taken steps to incorporate into their business models, but adoption has been sluggish due to many challenges in the path. Through this study, our effort has been to draw out a realistic phase-wise approach wherein all stakeholders could collaborate to counter the challenges faced and implement innovative technologies to create a strong digital ecosystem for India,” explained Amit Mookim, general manager, South Asia, QuintilesIMS.

He added, “is an important component of the delivery ecosystem wherein becomes mandatory for enhancing the overall patient care and experience. At present only one-fifth of the population is covered with some form of health insurance. This suggests that huge potential for growth is available for the insurance industry. presents many opportunities for health insurers. For instance, it helps in expanding reach, improves market share, and helps in providing additional value to customers.”

According to Malti Jaisawal, COO, TPA of India, most of the digital initiatives across market are being undertaken across sales and marketing and policy administration as it requires low degree of support from stakeholders across the value chain. For example, in online sale of policies, other stakeholders like providers, doctors and TPAs have minimal involvement. However, she added, cross stakeholder collaboration would be critical in most of the other initiatives to drive across health insurance.
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Business Standard
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Online sales of health insurance to grow 15-20 times by 2020: Study

Smart cards & unique patient identifier for policyholders to drive digitisation of health insurance in India, according to FICCI-QuintilesIMS study

and IT are changing the landscape of and ecosystem in the country. PM’s initiative of ‘Digital India’ has given a further boost to that will help in the adoption of Electronic Health Records (EHR) and Health Information Systems in the sector, according to FICCI-study.

This will enable seamless interoperability of data that will facilitate patient safety and lead to better patient outcomes. With the sector poised for major growth in the coming decade, demand for more efficient systems of data storage and transfer is set to increase.

As per the study, titled ‘in digital India’, unique identification of stakeholders within the ecosystem such as providers, diagnostic centers and doctors will play a critical role in the growth of of in India. The study estimated online sales of to grow 15-20 times by 2020.

The FICCI-study was commissioned in order to identify the appropriate roadmap for all stakeholders involved across industry. 

is an important component of the delivery ecosystem wherein becomes mandatory for enhancing the overall patient care and experience. At present only one-fifth of the population is covered with some form of health insurance. This suggests that huge potential for growth is available for the insurance industry. presents many opportunities for health insurers. For instance, it helps in expanding reach, improves market share, and helps in providing additional value to customers,” stated G Srinivasan, chair, Health, Insurance Committee & CMD, The New India Assurance.

“In India, insurers have taken steps to incorporate into their business models, but adoption has been sluggish due to many challenges in the path. Through this study, our effort has been to draw out a realistic phase-wise approach wherein all stakeholders could collaborate to counter the challenges faced and implement innovative technologies to create a strong digital ecosystem for India,” explained Amit Mookim, general manager, South Asia, QuintilesIMS.

He added, “is an important component of the delivery ecosystem wherein becomes mandatory for enhancing the overall patient care and experience. At present only one-fifth of the population is covered with some form of health insurance. This suggests that huge potential for growth is available for the insurance industry. presents many opportunities for health insurers. For instance, it helps in expanding reach, improves market share, and helps in providing additional value to customers.”

According to Malti Jaisawal, COO, TPA of India, most of the digital initiatives across market are being undertaken across sales and marketing and policy administration as it requires low degree of support from stakeholders across the value chain. For example, in online sale of policies, other stakeholders like providers, doctors and TPAs have minimal involvement. However, she added, cross stakeholder collaboration would be critical in most of the other initiatives to drive across health insurance.

image
Business Standard
177 22