Newly Launched COVID-19 Insurance to Help Sail through Pricey Treatment Burden Globally
Leading players in health insurance space are fast including big data capabilities to leverage adequate changes in customer behavior.
Developments in health insurance such as New York insurance companies re-evaluating and launching novel health insurance plans complying with ACA protocol is a significant leap ahead in health insurance realm.
As the number of claims keep rising consistently, leading to enormous data generation and documentation, a parallel digital model for channelizing the information remains highly integral, thereby augmenting addition of advanced technological features such as e-application, e-portal and a website specifically for health insurance realm.
Developments such as Oklahoma supporting the expansion of Medicaid on the back of supporting plans such as Affordable Care Act further support advances in AI and Big Data in insurance policies refurbishments, aligning with alarming pandemic crisis.
With the ongoing challenge of global pandemic looming large, businesses such as health insurance is undergoing steep alterations to match up to the need of the hour.
The scenario is more vivid across emerging economies such as India wherein growth opportunities remain prominent with surged instances of the virus outbreak, along with rising mindfulness about the benefits of health insurance in a highly populous country.
Insurance companies based in New York further have placed requests to Dept of Financial Services to hike existing premium value to over 11.7% by 2021.
On the back of relentless surge in healthcare delivery, insurance has evolved from a tax saving means to more holistic aid to offer optimum aid to consumers pertaining to their healthcare expenses, thus encouraging a more pervasive healthcare delivery. Several insurance providers are contemplating on similar lines.
Leading industry veterans such as Edelwise General Insurance has recently launched its thoughtfully crafted new insurance coverage policy which specifically covers corona virus cover. It doesn’t mandate hospital stay and also covers for self- quarantine an isolation in government approved quarantine centers.