The insurance sector of the nation has been failing as people are not buying insurance as the insurers have been unable to make policies that will attract the people and call them towards a benefit that they will have if they buy insurance. The major reason for the failing insurance sector is that the insurers are unable to provide better services to the insured, and this has become the prime reason for the defamation of the industry apart from the failing finances of the nation of India.
He health insurance companies which have been known to change up the insurance plans as they feel, may load up the premium by over 5 per cent nationally if the claims data in Delhi-NCR shows an abnormally high level of hospitalization and respiratory disorders because this will cause a lot of claims to the companies providing the cover for these issues and to cover this they will require to change the premiums that are being paid. The insurance companies are also thinking of tightening the extensive health checkups before giving out the insurance policy to a certain person that will be changing the insurance game by a huge margin as this will not be well received by the insured person or the person who wants to be insured.
A health policy penalizing customers of a particular city because of health risk is not very common in India, and this trend is new even to the insurance industry. Not all the products have pricing based on zones or geography, but geographical pricing does exist in the general insurance industry.
Tags : Delhi-NCR, nation ,