Analyzing The Use of Technology In Health Insurance Sector In India

A new conceptualization of organizational agility can help insurance companies adapt more swiftly to changing customer needs, competitor responses, and regulatory guidelines-without changing it organizational structure. Health insurance plays a major role in minimizing the financial burden of poor due to illness and diseases. Health care insurance industry is a part of general insurance.it is now becoming an emerging tool to govern the needs of people who seek health services . Today, various health insurance schemes are available in the market and providing benefits from an individual to entire family. Public sector has also adapted to this agility by launching new schemes – Ayushman Bharat. The overall percentage of India’s budget for health sector is lowest and expenditure on health care is mostly out of pocket. Now government trying to expand health insurance sector to reach to the every strata of the country and hence to health cost. With our country expecting double-digit growth over the next five years, health will play a major role in providing young and energetic workforce for the country. The twelfth five-year plan has already emphasized the need for more organized health insurance coverage in order provides financial protection to a large chunk of working class segment. This paper examines the present status of health insurance in India, innovation in health insurance sector and challenges faced by it. It also looks into the role of both public and private health insurance players to reach maximum coverage in health insurance.