India’s RSBY program taking advantage of consumers

India life insurance

RSBY program subject to World Health Organization study India may be home to a robust health insurance market, but its consumers may be falling victim to exploitation, according to a new study sponsored by the World Health Organization. The study focuses on the Rashtriya Swasthya Bima Yojana (RSBY) program, which is a health insurance initiative sponsored by the Indian government. The RSBY program is designed to provide poor citizens with access to health insurance policies that are affordable, yet comprehensive. Consumers may actually be paying much more for this insurance…

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Indian consumers will soon have access to Cigna health insurance

Health insurance company, Cigna, has announced that it has completed a joint venture deal that will allow it to sell health insurance products in the fastest growing market, in India. In India, 85 percent of all people do not have health insurance. The joint venture which will bring Cigna into this marketplace will be with a company called TTK Group, which is better known for appliances such as its Prestige brand pressure cookers, but which also manufactures medical devices and drugs, and administers insurance policies. This announcement comes at a…

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India’s Finance Ministry requests public sector general insurance companies to reduce expense ratio

The Finance Ministry in India has requested that the public sector insurance companies drop their expense ratio and reduce their management expenses in order to achieve better profits. The ministry has examined the performance of the four PSU insurers and, according to official sources, the motor and health insurance areas are those that continue to present a concern. The goal is to make the expense ratio more competitive. Moreover, these companies have already been told that it will be important to reduce their management expenses. The four PSU insurance companies…

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