Irda panel to judge TPAs' performance

Insurance Regulatory Development Authority (Irda) has constitued a committee to evaluate the performance of the third-party administrators (TPAs) in health services.

The committee will be headed by S B Mathur, secretary general of the Life Insurance Council, an industry body, and will consist of 12 other members including General Insurance Council Secretary General S L Mohan, representatives from pubilc and private insurance companies, health insurers, TPAs and consumer representatives.

The panel will monitor the role of TPAs and evaluate their performance in current health insurance market and make suitable recommendations clarifying their utility to the future growth of the health insurance industry, Irda said in a communique issued yesterday evening.

The body is put in place to evaluate the performane of the TPA system with particular reference to the objectives behind their introduction and particularly in view the provision of cashless facilities, data management, timely settlement of claims and reducing claim ratio.

A third party administrator in an entity that processes insurance claims for the general insurers that issuing health and medical insurance covers.