365Telugu.com online news, Mumbai, October 24, 2024: TATA AIG General Insurance Company Limited, a prominent general insurance provider in India, has officially launched five new riders that offer over 60 benefits, aimed at enhancing the flexibility and comprehensiveness of its retail health insurance products. As medical expenses continue to escalate and healthcare needs evolve, these riders are crafted to provide customized protection, addressing emerging health issues and lifestyle changes. This initiative underscores TATA AIG’s commitment to fostering growth in the health insurance sector through innovative and relevant solutions for its customers.
The new riders—Mental Wellbeing, EmpowerHer, OPD Care, CanCare, and Flexi Shield—are specifically designed to address crucial healthcare needs, including mental wellness, women’s health, and cancer coverage. The EmpowerHer rider focuses on comprehensive healthcare issues affecting women, such as infertility, PCOS, and other gynecological concerns. The Mental Wellbeing rider introduces industry-first preventive screenings and rehabilitation coverage for mental health. CanCare enhances cancer protection, while OPD Care and Flexi Shield safeguard customers against rising medical costs and everyday health expenses.
Enhancements in Claims Process
TATA AIG has made significant improvements to its claims settlement process, a key factor in maintaining customer trust. The utilization of cashless claims has increased from 67.7% in FY 2022-23 to 76.95% in FY 2024-25, with 96% of cashless claims processed within four hours and 85% of reimbursement claims settled within five days. The company aims to achieve 100% cashless claims processing in the coming years. These enhancements reflect TATA AIG’s commitment to delivering fast, seamless service, setting new standards in the industry for efficiency and customer satisfaction.
Network Expansion
TATA AIG has aggressively expanded its network to ensure access to quality healthcare services across the country. The company now boasts over 11,700 network hospitals in India, marking a 64% increase over the past 18 months. TATA AIG is dedicated to expanding its presence, particularly in underserved regions. The OPD network, which includes more than 5,000 listed doctors and 3,000+ diagnostics providers, ensures comprehensive healthcare coverage, complemented by robust teleconsultation services available in over 10 languages, further enhancing customer convenience.
Pratik Gupta, Senior Executive Vice President & Head–Agency at TATA AIG General Insurance Company Limited, stated, “The launch of these new riders is a crucial step in our strategy to accelerate growth in the health insurance segment. We are focused on expanding our reach across India, particularly in tier 2 and 3 cities, where access to healthcare and awareness are rapidly improving. By scaling up our network of branches, agents, and hospital partners, we aim to make quality healthcare more accessible to millions, supporting our projected growth in health insurance.”
Key Rider Highlights:
- EmpowerHer: A dedicated rider addressing comprehensive female health concerns, including PCOS, infertility, gynecological issues, female-specific cancers, and more. It also covers preventive care such as cervical cancer vaccinations.
- Mental Wellbeing: An industry-first offering that includes preventive mental health screenings, psychological therapy, rehabilitation services, with an emphasis on early and timely intervention.
- CanCare: Expanded cancer coverage that provides a lump sum payment of the sum insured upon the diagnosis of cancer of specific severity.
- OPD Care: Covers outpatient expenses such as doctor consultations, diagnostics, pharmacy bills, and vision care, ensuring everyday health needs are met.
- Flexi Shield: Designed to protect policyholders against medical inflation, offering unlimited restoration of the sum insured with Restore Infinity+, and an Inflation Shield to protect against rising medical costs, along with premium benefits like international second opinions, day 31 cover for pre-existing diseases, worldwide hospital cash, and more.
With a presence in over 220 locations and a network of more than 11,700 hospitals, TATA AIG is well-positioned to drive innovation in health insurance while enhancing its nationwide footprint.