PUNE: With changing lifestyles, healthcare needs of Indians are changing at a rapid pace. Hence, it has become imperative for the health insurance sector to redefine itself to cater to the evolving needs of customers, said Ankur Kharbanda, CEO, West Zone, Apollo Munich Health Insurance.
He was speaking during the launch of ‘Winsure’, a new first-of-its-kind health wallet, by Apollo Munich Health Insurance (AMHI).
He said with respect to healthcare financing, there are three major insights at hand and perhaps also the reason for low health insurance penetration in India.
“One is India ranks 183 out of 189 countries on account of out of pocket expenses, which means almost 70 per cent of healthcare expenses incurred is out of pocket. Second is Indian customers are probably most judicious as they always look for great value for money and it has been imbibed in their minds to save money and plan for their future. The third is post-retirement people are worried about funding health insurance premiums. These pertinent concern areas of customers lead us to re-invent the industry,” said Kharbanda.
Health wallet plan comes with a ‘Reserve’ benefit. This feature creates a reserve kitty for the customers that can be used for a variety of out-of-pocket expenses such as speech therapy, purchase of medicines, vaccinations, dental expenses, diagnostic tests, spectacles, contact lenses, medical devices like blood pressure and sugar monitors, oxymeters, prosthetics, consultations with medical practitioners, physiotherapists, dieticians, etc.