Insurance regulator Insurance Regulatory and Development Authority of India (IRDAI), on Monday, asked health insurers and health providers to raise the bar on “claim settlements”, stating that a disproportionately large number of complaints to the regulator are related to health policies.
Quick settlement
Insurance companies and health providers must practice the highest standards of ethics and ensure that claims are settled quickly and grievances minimised, said Subhash Chandra Kuntia, Chairman, IRDAI, at a FICCI conference on health insurance. Kuntia also urged health insurance companies to keep insurance policy wordings simple and understandable to the general public.