Business

Irdai Chairman Said Health Insurance Is Very Expensive Need To Reduce Cost

Health insurance is expensive for many sections of society. There is a need to reduce the cost of health insurance to increase its reach to those sections. Debashish Panda, Chairman, Insurance Regulatory and Development Authority of India (IRDA) said on Tuesday, “We need to leverage technology to reduce costs.”

At the Health Insurance Summit 2022, he said that it is possible that health insurance is expensive due to hospital expenses in the form of indirect costs along with high operating and distribution costs. The fixed price is probably very high, making insurance coverage unavailable to many sections of society.

Costs to be reduced to make it economical

To make insurance affordable, Panda said, ways to reduce expenses have to be considered. Advanced technological solutions can be a way out. He added that we are also actively participating in the industry’s fundamental questions. The regulator is working on relaxing the spending management limit per the industry’s demand.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

We Are Not Son Of Bill Gates