January 2012

Technology that Secures

With innovations and developments in the technology, we have smooth electronic data flow from insured to insurer


Bishwajit Nayak
Head of Health Claims and Networking, Future Generali


Health Insurance is one of the fastest growing business line in general insurance. This business involves various stake holders and voluminous data capture and transfer takes place between the stake holders. This includes theclient, intermediary, the insurance company, the TPA (if involved), the hospital, doctors, diagnostic centers, etc. All the stake holders require excellent IT infrastructure in terms of hardware as well as software.


The process of reimbursement presently takes around 20 days and we plan to shorten it up to 3-4 days to hold the customers interest. The company focuses on web insurance  of policies, web enrolment of members in corporate, eCards and eEnrolment  of members and dependents. Customers can access their policy coverage information online as well  as seek information online.

Future Generali has 18 percent of share in the health insurance sector. The role of technology in insurance is used for distribution of health insurance, customer service and data flow and capture. For the rural population, they have incorporated web enabled common kiosks which are a single window concept for financial products.  Future Generali is a joint venture between the India-based Future Group and the Italy-based Generali Group. Future Generali is present in India in both the Life and Non-Life  businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.

The capabilities of each of the stake holder in capturing data effectively and transferring the data across are very  important. Health Insurance involves personalised services and the efficiencies required are of a much higher level.  Extensive quality data, analysis and inference are very vital for a viable health insurance portfolio. Health insurance underwriting as well as claims processing system capabilities play a pivotal role.

The extent and quality of data captured by an insurance company helps in more efficient product designing and pricing.  Fraud detection is another important area in health insurance where IT has a major role  to play. New regulatory initiatives such as portability require quick retri and exchange of data within insurers and would require the insurance companies to have excellent IT systems. With innovations and developments in the technology, we  will have smooth electronic data flow from insured to insurer, diagnostic centre to insurer, hospital to TPA/Insurer and insurer toinsured. It will help better fraud detection as well as fraud management.

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