New Delhi: General Insurance Council's (GIC) move for common empanelment of hospitals is going to be beneficial for all stakeholders, including policyholders, removing friction points between insurers and hospitals, IFFCO-TOKIO General Insurance MD and CEO Subrata Mondal said.
More than 10,000 hospitals have applied to be onboarded to the GIC Common Empanelment Platform so far.
The common empanelment allows hospitals to empanel with all 32 insurance companies through a single digital process and one common agreement, replacing the need for separate empanelment procedures with individual insurers.
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"Today, each insurance company has its own registration process, but is now moving towards a common empanelment process. This will help with a few key areas, like standardisation and enhanced negotiating power. Each company has been assigned one or two states to focus on exclusively, and that empanelment will then be adopted by all participating companies," he told in an interaction.
So, the industry put together is trying to have that in place and this is also eventually good for all the stakeholders and a win-win for everyone, he added.
This initiative is driven by the industry body GIC at the behest of the government and regulator, he added.
Talking about his company's plan to further provide relief to its customers, Mondal said, IFFCO-TOKIO General Insurance is in the process of revamping the core IT system.
The new IT system would help in faster claim processing, an efficient underwriting process, and easier direct selling, he added.
