A recent study reveals that approximately 43% of health insurance policyholders faced obstacles in claiming their policies over the past three years. With the increased demand for health insurance following the Covid-19 pandemic, insurance companies have reportedly been more inclined to deny payments or reject claims. The study, conducted across 302 districts with over 39,000 participants, highlighted issues such as policy denials, partial payments, and prolonged processing times. According to survey results by LocalCircles, participants indicated a need for regulatory reforms. Proposed changes include a mandate for insurance companies to publish detailed data on policy cancellations and claims on their websites monthly. Despite interventions from the Insurance Regulatory and Development Authority of India (IRDAI), consumers continue to struggle with insurance companies to receive their health insurance claims.
Source and Details: News18