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Our Money: Overcoming the challenges in the health insurance sector

Developing new standards also means that current underwriting and risk assessment methods need to change. Products need to be restructured to ensure more comprehensive coverage and minimal deductions.By Krishnan RamachandranWith the world grappling with the coronavirus pandemic, there is renewed focus on health and health insurance. However, even today, very few Indians have health insurance. India has one of the world’s highest rates of out-of-pocket spending in healthcare. Even among the growing number of the middle class, for whom health insurance would be a worthwhile investment, very few comprehend the value of an insurance plan. But that could be changing—…

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