ICICI Pru plans healthcare in UP

ICICI Prudential Life Insurance, in a bid to tap the potential in healthcare sector, has tied up with private hospitals and nursing homes of Uttar Pradesh.

Speaking to Business Standard, Pranav Mishra, senior vice-president, ICICI Prudential life insurance, said, “The Company at present has tied up with about 60 hospitals and nursing homes in the state to offer its hospital care plan. This will cover major cities like Lucknow, Allahabad, Kanpur, Varanasi and Agra.”

Hospital care is structured to ensure that customers receive a pre determined insurance amount for each procedure or hospitalisation, ranging from room charges, doctor and surgery fees and other incidental expenses.

“Our research revealed that many customers believe that existing health insurance policies would not cover all the expenses related to hospitalisation or surgical procedures, leaving them with a considerable financial burden,” Mishra said.

“This is compounded by the concern that these policies are not long term and that once a claim is made, it might not be renewed or will attract a higher premium. Our policy will fill this gap in health insurance and also offer customers control over their health spends,” he said.

The company already has six products in health insurance space and now has introduced hospital care to cover over 1,000 surgical procedures and hospitalisation.

“We have networked with 3,000 hospitals across the country for cashless facilities,” added Mishra. The company at present has 55 branches in 45 locations, in the state.

In the next one year, 5-6 more branches will be opened in the state. These will be centered in B category cities.

Source: Business Standard