Data Revolution in Healthcare and Lifesciences Industry

.....Even though the Indian health insurance market grew by 38% in 2006-07, only ... were no third party administrators operating in India, and there was no direct settlement of claims between health Insurer and hospital. There were therefore issues concerning... Even though the Indian health insurance market grew by 38% in 2006-07, only 1.08% of India’s billion plus population has medical insurance. The general perception is that the prospects for growth in this sector of the insurance market are good. Background Health insurance policies were first introduced in 1986 at a time when the Indian insurance industry was nationalised. The policies on offer were complicated to read and offered limited cover. There were no third party administrators operating in India, and there was no direct settlement of claims between health Insurer and hospital. There were therefore issues concerning claims servicing, which involved an Insured following cumbersome procedures to get claims authenticated a...