lth insurance guidelines came into effect. And the industry has changed—become more customer-friendly in many ways. Lifelong renewals, more transparency and standardized policy terms, easy portability, uniform claim forms and procedures are now a norm. However standardization has not blocked innovation.

On the occasion of launch of what is being claimed as one of the most comprehensive health covers available in the market today, Economictimes.com talked to Manasije Mishra, CEO, Max Bupa Health Insurance on how the industry has been getting post-standardization guidelines, why innovation is still needed in this segment of insurance and how the features of their new Heartbeat Plan is a leap in that direction.

How has the industry evolved since new health insurance guidelines were introduced? Do you see more customer-centric product/ features in the market than say the products available till a year ago?

Standardization guidelines are one of the positive developments for the health insurance segment. It has helped the industry to be more streamlined for the greater benefit of the consumers. The guidelines have brought about transparency and simplicity for consumer understanding and ensure removal of any kind of confusion. Earlier insurers would use the same term to mean different things. For instance, maternity benefit for one insurer could mean paying only for a caesarean section, while for the other it could mean covering any complication. Now the definition has been standardized.

Most importantly, it has brought the focus back on the consumers which will eventually help to achieve the cherished goal of deeper penetration and access to quality healthcare for all. It has definitely encouraged innovation in product designing and customer service for the consumers.

Your new comprehensive product promises cashless treatment for nine critical illnesses and emergency medical evacuation in 190 countries worldwide. The policyholder will still need a separate international travel insurance policy. So how will this additional feature help?

Our research indicates that customers are looking for best quality healthcare for their families, in India and abroad. Therefore, the new version of Heartbeat has been enhanced to serve as a one-stop shop for all seekers of a complete health insurance plan including retired senior citizens and frequent international travelers and their extended families. The construct of our product is very different from an international travel policy that covers treatment costs for medical needs arising during international travel. The term of such policy is usually generally maximum up to 180 days. Our worldwide cashless treatment will cover the expenses incurred towards the treatment of the common critical illnesses such cancer, heart diseases, organ transplant among others in a country of their choice, through our parent company Bupa International’s network in 190 countries, for a pre-determined illness diagnosed by a doctor in India. We will also cover our customers for emergency medical evacuation services.

You have given an option to enhance coverage up to 50% sum assured on renewal, irrespective of claim history. Will the increased sum assured have a fresh underwriting or will you increase the premium on the old policy on a pro-rata basis?

The purpose of our offering this option to our customers is to encourage the use of a health insurance during the time of need, instead of penalizing for it. We also want to award our customers for their loyalty, so no underwriting is required for the additional sum insured. It’s been a year now since the new health insurance guidelines came into effect. And the industry has changed—become more customer-friendly in many ways. Lifelong renewals, more transparency and standardized policy terms, easy portability, uniform claim forms and procedures are now a norm. However standardization has not blocked innovation. On the occasion of launch of what is being claimed as one of the most comprehensive health covers available in the market today, Economictimes.com talked to Manasije Mishra, CEO, Max Bupa Health Insurance on how the industry has been getting post-standardization guidelines, why innovation is still needed in this segment of insurance and how the features of their new Heartbeat Plan is a leap in that direction.

How has the industry evolved since new health insurance guidelines were introduced? Do you see more customer-centric product/ features in the market than say the products available till a year ago?

Standardization guidelines are one of the positive developments for the health insurance segment. It has helped the industry to be more streamlined for the greater benefit of the consumers. The guidelines have brought about transparency and simplicity for consumer understanding and ensure removal of any kind of confusion. Earlier insurers would use the same term to mean different things. For instance, maternity benefit for one insurer could mean paying only for a caesarean section, while for the other it could mean covering any complication. Now the definition has been standardized. Most importantly, it has brought the focus back on the consumers which will eventually help to achieve the cherished goal of deeper penetration and access to quality healthcare for all. It has definitely encouraged innovation in product designing and customer service for the consumers. Your new comprehensive product promises cashless treatment for nine critical illnesses and emergency medical evacuation in 190 countries worldwide. The policyholder will still need a separate international travel insurance policy. So how will this additional feature help?

Our research indicates that customers are looking for best quality healthcare for their families, in India and abroad. Therefore, the new version of Heartbeat has been enhance .. enhanced to serve as a one-stop shop for all seekers of a complete health insurance plan including retired senior citizens and frequent international travelers and their extended families. The construct of our product is very different from an international travel policy that covers treatment costs for medical needs arising during international travel. The term of such policy is usually generally maximum up to 180 days. Our worldwide cashless treatment will cover thecover the expenses incurred towards the treatment of the common critical illnesses such cancer, heart diseases, organ transplant among others in a country of their choice, through our parent company Bupa International’s network in 190 countries, for a pre-determined illness diagnosed by a doctor in India. We will also cover our customers for emergency medical evacuation services. You have given an option to enhance coverage up to 50% sum assured on renewal, irrespective of claim history. Will the increased sum assured have a fresh underwriting or will you increase the premium on the old policy on a pro-rata basis? The purpose of our offering this option to our customers is to encourage the use of a health insurance during the time of need, instead of penalizing for it. We also want to award our customers for their loyalty, so no underwriting is required for the additional sum insured.