Fuzzy public disclosures still come in the way of health insurance ratings

When Mint began rating health insurance plans, we just looked for the cheapest policies. We listed the cheapest plans in the market until one day a plan that was the cheapest—and modelled after Bata pricing—revised its premiums to be among the most expensive. The revision—that resulted in a hike of up to 200%—was a hard knock because we realized that listing health insurance plans by premiums alone was no value-add to our readers. So we began to include benefits that a policy carries—for example, a no-claim bonus, no caps on room rent. But claims is really where the moment of truth sits in an insurance policy, so we began including claims data as well.

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