He emphasised on the fact that more than 15 lakh people have already been covered under the recently launched specialised COVID-19 policies. “IRDAI has a cost-prevention committee that can help insurance companies with loss prevention,” he said. He also opined that insurance companies should come up with short-term group insurances as IRDAI has been suggesting. Insurance companies should also have mobile apps to cater to the changing demands of policyholders and cybersecurity was another concern that should be looked into. The health insurance sector saw a six per cent jump by the end of July, Khuntia added.

Source: dna August 27, 2020 18:44 UTC