Common Health Insurance TPA for Public Sector General Insurers
This year in August, the general insurers in the public sector formed a common in-house health insurance Third Party Administrator (TPA). It is expected to come in full fledged action by April, 2014. The five general insurance companies owning stakes in health insurance TPA are National Insurance, New India Assurance, Oriental Insurance, United India Insurance and General Insurance. Of the above, the first four insurers capture almost 70% market share in the health insurance sector. Initially, these health insurers used to take the services of external TPAs.
Get ₹5 Lac Health Insurance starts @ ₹200/month*
Tax Benefitup to Rs.75,000
Save up to 12.5%* on 2 Year Payment Plans
7 Lakh+ Happy Customers
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
Get insured from the comfort of your home No medicals required
I am a
My name is
My number is
By clicking on ‘View Plans’ you, agreed to our Privacy Policy and Terms of use
Close
Back
Get insured from the comfort of your home No medicals required
I am a
My name is
My number is
Select Age
City Living in
Popular Cities
Do you have an existing illness or medical history?
This helps us find plans that cover your condition and avoid claim rejection
Get updates on WhatsApp
What is your existing illness?
Select all that apply
When did you recover from Covid-19?
Some plans are available only after a certain time
- Home
- Health Insurance
- Individual Health Insurance
- News - IHI
- Common Health Insurance TPA for Public Sector General Insurers
The formation of a common TPA will help them gain more transparency and control over the claim processing. It will also make it easier for the insurers to catch fraudulent claims. For the policyholders too, this initiative is beneficial as it will make the claim settlement process faster and easier.
In the beginning, formation of TPA is going to be a financial load for these insurers, but over a long term, the administrative cost will come down leading to big savings. At present, these insurers pay a substantial fraction of the premiums collected to external TPAs for their services.
The common health insurance TPA is intended to handle the claims filed with any of these five insurers. For its initial set up, TPA is funded with paid up capital of Rs 10 crore and authorized capital of Rs 300 crore from government owned general insurers.
Search
Health Insurance Companies
Aditya Birla Health Insurance
Bajaj Allianz Health Insurance
Bharti AXA Health Insurance
Care Health Insurance
Cholamandalam Health Insurance
Digit Health Insurance
Edelweiss Health Insurance
Future Generali Health Insurance
IFFCO Tokio Health Insurance
Kotak Mahindra Health Insurance
Show More Insurers
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Health insurance articles
Recent Articles
Popular Articles
17 May 2022
The brain is one of the most important organs in your body. It is...
12 May 2022
India experiences a hot and dry summer season that lasts for up to...
12 May 2022
The number of people who require hearing aids continues to grow...
12 May 2022
Accidents are unpredictable. Getting injured in an accident not...
12 May 2022
A change in weather can bring respite from the scorching summer...
