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Health insurance, the top segment in the sector, has seen a premium mobilisation of over Rs 37,000 crore in the April-July period of 2023-24.
As part of its Mission 2047 'Insurance for All', IRDAI is planning to launch Bima Trinity - Bima Sugam, Bima Vistar, Bima Vaahaks – in collaboration with general and life insurance firms.
Also, most hospitals don't allow cashless admissions even though the insurance product offers such a facility, citing one or other excuses.
Insurance Regulator in India (IRDAI) is leading the insurance growth and penetration
IRDAI is working on the product along with the General Insurance Council and Life Insurance Council, Panda said.