BENGALURU: Insurers are upselling health insurance to customers by skewing their pricing in favour of high-value policies. A Rs 1 crore health insurance cover is available for as low as Rs 18,000 for a 30-year-old. As a result, a third of all health insurance premiums is now coming from the sale of high-value policies.
“There has been high claims experience from the Rs 1-25
lakh segment
. So premium rates shot up 50-100% there. And since the Rs 25 lakh -1
crore segment
is fairly new, premium rates are low — an indirect benefit of cross-subsidy,” said Biresh Giri, appointed actuary and CRO, Acko Insurance.
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Rachel Chitra writes for the business section of The Times of Ind...
Read MoreRachel Chitra writes for the business section of The Times of India. She has been tracking the banking and insurance sector for nearly five years.
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