Top 10 Insurtech Companies in India Revolutionizing the Insurance Industry
Explore our curated list of the top 10 insurtech companies in India.
May 28, 2023
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₹ 5,000 per life
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The banking sector of India is inclusive of banks and institutions which store money for the people. There are different types of accounts available for the general public’s use like savings accounts, current accounts, PPF accounts, etc.
Managing and keeping financial records is tiresome and can only be done easily by professionals. The banking industry helps the public in doing the same for a nominal amount. You can keep track of your savings and expenditure through the issuance of a passbook, which is a journal for all your transactions.
The banking industry also provides loans to its customers for various purposes like buying a car, buying a house, student loans, etc. It is one of the most used sectors under the finance umbrella. It also provides employment to a number of professionals. There are about 6.7K banking institutions that are making people’s life easier by managing their finances themselves.
If we segregated the working individuals according to their company size, the results would be -
Managing finances all day could be taxing on many levels. Since the work of your employees can be done while sitting in one place, it is imperative that they may suffer from one illness or other. Some might develop chronic illnesses over time. It could be financially taxing for the employees as well. To help your employees fight these battles on a daily basis, you should provide group health insurance benefits to your employees.
One of the major issues that an employee can encounter in their daily life is facing a lack of finances. Through a group health insurance policy, along with the employee, their family members will also get financial assistance if and when required.
You can get tailor-made benefits for your employees according to the nature of the job.
An employee would want to give 100% if they know that their institution is doing the same for them.
Your employees would be mentally at peace knowing that in any hospitalization or medical emergency, they have a security blanket to fall back on.
Just like managing finances, buying group health insurance can be tricky. But there are some common parameters that you should keep in mind before making a purchase.
A claim settlement ratio is simply the number of claims settled to the number of claims received in a financial year. This will give clarity to the insurance taker.
For editing the details of an employee, especially in a large-scale company, there should be no external party. Make sure that your insurer has either an in-house TPA or no TPA.
Always check the number of add-on benefits available to include in your group health insurance policy.
Having a wider cashless hospital chain will help your employees to locate one near them in medical emergencies.
For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
Yes, even if your employees have an individual insurance policy, they can still be eligible for group health insurance provided by their employer.
No, the premium paid towards the group health insurance policy is exempted from tax.
Yes, you can check with your insurance provider for the same. Pazcare has a Super top-up feature through which you can add family members and increase the sum insured for up to 20 Lacs.
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