

Aditya Birla Health bets on wellness incentives to improve claims ratios
Subscribe to enjoy similar stories.Aditya Birla Health Insurance Co. Ltd wants to position itself as an influencer, using wellness incentives to boost customer engagement, cost efficiencies and claims ratios.“Our thesis is very clear that we are building a long-term relationship with our consumers.
If we can do anything to influence our consumers' health positively, it's good for them, it's good for us,” managing director and chief executive Mayank Bathwal told Mint.While the insurer can’t play a medical role, which is the domain of the health fraternity, regulations do allow insurers to reward policyholders for “good health behaviour”.“We will only play the role of an influencer and maybe an additional layer of support to the customer,” he said, adding that the insurer has been on this journey for the last 8-10 years.The strategy is to reward healthier customers and let them stay on their health journey, nudge those on the edge to be more consistent, and, lastly, intervene with high-risk customers to help them manage their health.As this cohort of policyholders grows, the insurer's claims ratios will improve, helping boost profitability. “Our requirement for price increase has been much less than the others because my overall claim ratio will be lower,” he said.To be sure, premium increases have also remained limited due to the removal of goods and services tax (GST) on retail term and health insurance policies.
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