New India starts sale in health insurance by offering 5% to 10% discount

Various Insurance companies increased the premium by following each other.There has been heartburn and criticism in blogs,press & electronic media.Even IRDA had to issue the instructions in this regard.

It is nice to know that New India has announced the following discount structure for those going in for renewal of the policy without making any claim in the current year.

Mumbai 10%
Delhi/Bangalore 7.5%
Rest of India 5%

We feel there is scope in management of the hospital expenses,negotiating for rates for surgeries,going in for special rates for the rooms/icu's. Let GIC(General Insurance Council) play a leading role in bringing down the hospital expenses and pass on the benefit to clients/customers.

Let IIM or ISB be given the assignment to undertake the study /research paper on the profitability of the hospitals/ loss of Insurance co's so that corrective steps can be initiated.