Technological advancements have completely transformed the world, and the health insurance industry is no exception.
Today, health insurance companies are integrating cutting-edge technologies to increase their efficiency and offer a better experience to their customers and policyholders.
There are many excellent examples of technology in health insurance, from automated claims processing to wearable tech for personalised plans.
Let’s take a look at the most trailblazing technological advancements in the health insurance industry.
Role of Technology in Health Insurance
Technology in health insurance is not limited to just online policy purchases.
There are many ways in which health insurance providers incorporate cutting-edge tech into health insurance.
Below are the most popular technologies in the health insurance industry of 2024:
AI and ML for Automatic Processing
As per the IRDAI, insurance companies must settle their claims within 30-45 days of submitting the request. However, resolving a huge number of claims within a tight deadline is challenging for insurance providers.
To manage the surging health insurance claims and to keep their customers satisfied, health insurance providers are turning to the latest technologies like Artificial Intelligence and Machine Learning to automate their insurance claims processing.
This utilisation of technology in health insurance allows insurance companies to speed up their claims settlement process and reduce any scope for manual errors.
Apart from automated claims settlement, AI is also being used to provide virtual assistance to insurance seekers and policyholders.
Mobile Applications for Added Convenience
Another popular use of
technology in healthcare and insurance is user-friendly mobile applications for instant services. For example, Reliance General Insurance has already launched the
Reliance Self-i application to offer our customers a smooth insurance management experience.
Using this application, you can purchase a customised health insurance plan, renew the existing policy, and file claims whenever needed.
Such easy-to-use mobile applications significantly reduce the time and effort required to manage insurance-related issues.
Blockchain to Foster Transparency
Blockchain is another popular technology in health insurance. It offers a centralised platform for streamlining insurance processes and enhancing transparency.
This pioneering tech has transformed the health insurance sector greatly. It is used to ensure a higher level of security, improve productivity and reduce any dependency on a third party.
By keeping customer data secure and immutable, blockchain technology prevents data breaches and offers a secure environment for insurers to connect with their policyholders.
Social Media for Health Insurance Awareness
Social media is an integral part of today’s modern lifestyle. It significantly impacts the thought-processing and decision-making skills of the users.
Similar to other businesses and service providers, health insurance companies have also started maintaining a strong social media presence to target new customers and keep the existing ones aware and up to date.
Telemedicine Support for Remote Healthcare
After the mandate issued by the IRDAI, health insurance companies have started offering telemedicine coverage. This is another great example of the fusion of tech in health insurance.
Telemedicine is a concept that offers remote healthcare services by establishing virtual communications. This facility enables users to connect and consult with their doctors remotely. For doctors and healthcare professionals, telemedicine helps in remote monitoring of their patients.
Conclusion
Technological advancements such as online policy purchase, automatic claims processing, etc., are continuously changing the healthcare system of the country.
These advancements are beneficial for both insurance providers and seekers. For insurance companies, health insurance tech helps increase efficiency and offer a better customer experience. On the other hand, policyholders and insurance seekers can benefit from enhanced convenience and better scope for personalisation in their health insurance plans.
Reliance General Insurance for Customised Health Insurance Plans
Reliance General Insurance is your one-stop destination for efficient health insurance solutions. Our comprehensive health insurance plans combine technology, security and efficiency to protect your finances during health emergencies.
From well-designed individual health insurance policies and family insurance plans to excellent dedicated plans like
International Health Insurance and Critical Illness Insurance, you can purchase from a wide range of options. What’s more?
You can customise your
health insurance policy to fit your unique requirements. We offer all these benefits at a price starting from just ₹243 per day.
In addition, you get benefits such as 100% claims settlement, instant policy purchase, lifetime renewability, no claims bonus, cashless hospitalisation anywhere and more.
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Frequently Asked Questions
What technology is used in healthcare?
Many cutting-edge technologies, including artificial intelligence, machine learning, blockchain, and the Internet of Things, are shaping the country's healthcare industry.
How is technology used in the health insurance industry?
Technology in health insurance is used for streamlining insurance processing, offering faster claims settlement, collecting and storing customer data, enhancing user experience and numerous other aspects.
How does technology in insurance help policyholders?
Health insurance technology, such as artificial intelligence, can be more beneficial for policyholders. For starters, it allows you to get personalised health insurance policies designed to cater to your particular requirements.
Further, you get benefits such as faster claim settlement, easy renewal and paperless purchase, simple policy management, enhanced coverage and so on.